Pacific Western Bank reports earnings recovery in first quarter
PacWest Bancorp saw its net income soar a year after a devastating low. The parent company of Pacific Western Bank, which is based in Los Angeles and has 15 branches in the Tri-Counties, reported net income of $150 million, or $1.27 per diluted share, for the first quarter of 2021. In the first quarter of Read More →
Community Bank of Santa Maria reports income decline, asset growth
Community Bancorp of Santa Maria saw its net income decline from the first quarter of 2020 to the first quarter of 2021, even though other financial measures soared year-over-year. The bank’s net income declined 7.2%, going from $609,521 to $565,683 in a year’s time, but during the same time total assets grew almost 37%, the Read More →
Sierra Bancorp reports income spike
Sierra Bancorp, a Porterville-based bank with 11 branches in the tri-county region, saw its net income spike more than 40% during the first quarter of 2021 when compared with the same quarter of 2020. The bank reported a net income of $11.1 million, or 72 cents per diluted share, for the quarter ended March 31. Read More →
New CIO at Montecito Bank & Trust: ‘Value has long been ignored’
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Opinion: Pandemic’s effect on the workforce hasn’t been equal
By Midge Campbell-Thomas According to the U.S. Bureau of Labor Statistics, in December 2019 there were 109,000 more women working than men, occupying 50.04% of positions. However, once the pandemic evolved, thousands of women left the workforce to accommodate responsibilities brought on by stay-at-home orders, which left them as full-time caregivers According to the January Read More →
Bank of America buys Santa Barbara health care payment company
Axia Technologies, a Santa Barbara-based health care payment and technology company, has been acquired by Bank of America. The terms of the acquisition were not immediately announced, but in an April 2 news release announcing the deal, Bank of America said the move is part of a lager strategy to bring additional merchant services onto Read More →
Montecito Bank & Trust reports growth in assets, deposits and income
Montecito Bank & Trust saw its total assets grow more than 20% during 2020, on the back of strong loan production, deposit growth and higher net income, the bank said Feb. 5. The bank’s total assets grew $344.1 million, a boost of about 21.4% from the previous year, bringing Montecito Bank & Trust’s total assets Read More →
