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Montecito Bank & Trust
Latest

OCB Bancorp income grows during third quarter

By   /  Monday, November 14th, 2016  /  Banking & Finance, Banking Industry, Earnings, Latest news, Tri-County Public Companies  /  Comments Off on OCB Bancorp income grows during third quarter

In its third quarter earnings report, OCB Bancorp — parent company of Ojai Community Bank, Santa Barbara Community Bank, Ventura Community Bank and Santa Paula Community Bank — reported net income year-to-date of $851,000, or 37 cents per share, up from $622,000 last year. Total loans increased by $42 million, or 26 percent, to hit Read More →

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Latest

Heritage Oaks Bank income up slightly in third quarter

By   /  Friday, November 4th, 2016  /  Banking & Finance, Banking Industry, Earnings, Latest news, Tri-County Public Companies  /  Comments Off on Heritage Oaks Bank income up slightly in third quarter

Paso Robles-based Heritage Oaks Bank reported a net income of $4.2 million in the third quarter, or 12 cents per diluted common share, up from $4 million, or 12 cents per share, for the same period last year. Gross loans increased by $136 million, or 11.3 percent, to $1.3 billion, compared to $1.2 billion in Read More →

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Latest

Central Coast bank merger wave rolls on

By   /  Friday, November 4th, 2016  /  Banking & Finance, Banking Industry, Latest news  /  Comments Off on Central Coast bank merger wave rolls on

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Latest

Founders Community Bank in SLO being acquired

By   /  Monday, October 31st, 2016  /  Banking & Finance, Banking Industry, Central Coast, Latest news, Tri-County Economy  /  Comments Off on Founders Community Bank in SLO being acquired

Fresno-based Premier Valley Bank will acquire San Luis Obispo-based Founders Community Bank in a stock-and-cash transaction valued at approximately $29.1 million, or $21.87 per share, the companies announced on Oct. 31. The parent company of Premier, Heartland Financial USA, aims to acquire Founders, a wholly-owned subsidiary of Founders Bancorp, in a 70 percent stock and Read More →

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Latest

Net income up at Community West Bancshares

By   /  Friday, October 28th, 2016  /  Banking & Finance, Banking Industry, Earnings, Latest news  /  Comments Off on Net income up at Community West Bancshares

Community West Bancshares said third quarter net income was $1.5 million, up from $1.1 million in the second quarter and on pace with year-earlier earnings. For the nine months ended Sept. 30, the bank reported net income of $3.9 million versus $1 million for the prior year; loans grew 12.9 percent to $601.9 million on Read More →

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Latest

Merger pays off for American Riviera Bank

By   /  Thursday, October 27th, 2016  /  Banking & Finance, Banking Industry, Earnings, Latest news  /  Comments Off on Merger pays off for American Riviera Bank

American Riviera Bank reported sharply higher profits and deposits for the third quarter as the benefits of its merger with the Bank of Santa Barbara late last year are becoming evident. American Riviera said Oct. 25 that net income was $1.4 million for the quarter ended Sept. 30 or 32 cents per share versus 5 Read More →

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Latest

Montecito Bank & Trust net income down but loan, deposit growth strong

By   /  Tuesday, October 18th, 2016  /  Banking Industry, Earnings, Latest news, Tri-County Public Companies  /  Comments Off on Montecito Bank & Trust net income down but loan, deposit growth strong

Santa Barbara-based Montecito Bank & Trust reported $10.9 million of net income in the third quarter, down from $12.2 million over the same period last year, but had strong loan and deposit growth. In 2016, MB&T discontinued reversals of excess loan loss reserves to support loan growth, which is reflected in the reduced year-to-date net Read More →

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