Mark Olson has resigned from his position as chief financial officer and executive vice president at Paso Robles-based Heritage Oaks Bancorp, tied as the largest bank based in the region with about $1.2 billion in assets.Read More →
Santa Barbara-based solar finance firm Wiser Capital said Jan. 9 that is has entered into a $100 million deal with Sandler O’Neill and Partners, a major Wall Street investment bank.Read More →
Longtime Santa Barbara banker Joanne Funari has stepped down from Business First Bank to join the Bank of Santa Barbara as chief operating officer.
Funari previously served as regional director and president of Business First, a division of Heritage Oaks Bancorp based in downtown Santa Barbara.Read More →
As the last bank in the region exits the Troubled Asset Relief Program on the five-year anniversary of the federal aid program, the U.S. Treasury has recouped most of its investment in the Tri-Counties, taking a loss of $3.2 million on the $259.6 million it disbursed to area lenders.
By paying off $2.1 million in federal aid it received at the height of the financial crisis, Ojai Community Bank becomes the last of the region’s banks to exit TARP. All told, the U.S. Treasury received $256.4 million on the $259.6 million in aid it disbursed to nine banks in the Tri-Counties.Read More →
With its $56.4 million purchase of another Central Coast bank, Heritage Oaks Bancorp lays the foundation to build the region’s next big community banking franchise and emerges as the dominant player in the market.
Paso Robles-based Heritage Oaks said Oct. 21 that it is buying Mission Community Bank, based in San Luis Obispo, in a cash-and-stock deal expected to close in the first quarter of 2014. The combined bank would have $1.5 billion in assets, making it the largest bank based in the Tri-Counties.Read More →