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Montecito Bank & Trust
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Tri-county community banks ready to be heard on financial policy

By   /  Friday, October 7th, 2016  /  Banking & Finance, Banking Industry, left  /  Comments Off on Tri-county community banks ready to be heard on financial policy

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CoastHills Credit Union opens branch in Thousand Oaks

By   /  Friday, September 30th, 2016  /  Banking & Finance, Banking Industry, East Ventura County, Latest news  /  Comments Off on CoastHills Credit Union opens branch in Thousand Oaks

Lompoc-based CoastHills Credit Union recently opened its first Ventura County branch at 125 N. Moorpark Road in Thousand Oaks. The 5,000-square-foot “branch of the future” features a virtual banking experience as well as a tech bar that offers tutorials for CoastHill’s digital products. CoastHills completed a renovation of the space that was formerly home to Read More →

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Fiscal reform needed as pension time bomb ticks away

By   /  Friday, September 2nd, 2016  /  Banking & Finance, Banking Industry, Columns, Latest news, Top Stories, Tri-County Economy  /  Comments Off on Fiscal reform needed as pension time bomb ticks away

America’s summer of fiscal discontent is coming to a close on a downbeat note. The California legislature is preparing to wind up its session having stirred up a lot of controversy but done almost nothing to address the state’s ongoing pension crisis. The burgeoning shortfall now adds up to $139 billion in the CalPERS fund Read More →

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Net income down but Montecitio Bank & Trust’s loans and deposits grow

By   /  Thursday, August 25th, 2016  /  Banking & Finance, Banking Industry, Earnings, Latest news  /  Comments Off on Net income down but Montecitio Bank & Trust’s loans and deposits grow

Santa Barbara-based Montecito Bank & Trust reported net income of $7.2 million in the second quarter, down $800,000 from the same period last year. The bank reported 13.6 percent year-over-year loan growth, ending the quarter at $752 million. Total deposit growth was up 3.3 percent from the second quarter of 2015 while total assets grew Read More →

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Parent of Ojai Community Bank raises funds

By   /  Tuesday, August 23rd, 2016  /  Banking & Finance, Banking Industry  /  Comments Off on Parent of Ojai Community Bank raises funds

OCB Bancorp, parent company of Ojai Community Bank, raised additional funds by issuing $3 million of subordinated notes to facilitate future growth. “During this extended period of low rates, many corporations have found it advantageous to issue corporate bonds instead of common stock to assist capital growth,” President and CEO Dave Brubaker said in a Read More →

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OCB Bancorp’s second quarter net income up over last year

By   /  Monday, August 8th, 2016  /  Banking & Finance, Banking Industry, Earnings, Latest news, Tri-County Public Companies  /  Comments Off on OCB Bancorp’s second quarter net income up over last year

In its second 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 $516,000, or 25 cents per share, up from $372,000 last year. “Loans also continue to grow, increasing approximately $49 million since June Read More →

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Heritage Oaks Bank beats second quarter projections

By   /  Monday, August 1st, 2016  /  Banking & Finance, Banking Industry, Earnings, Latest news, Tri-County Public Companies  /  Comments Off on Heritage Oaks Bank beats second quarter projections

Paso Robles-based Heritage Oaks Bank surpassed analyst estimates on both earnings per share and revenue in its second quarter earnings. The bank reported net income of $4.2 million, or 12 cents per diluted share, for the second quarter of 2016 compared to $3.7 million, or 11 cents per share, in the second quarter of 2015. Read More →

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