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Montecito Bank & Trust
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Heritage Oaks CFO resigns

By   /  Tuesday, January 14th, 2014  /  Banking & Finance, Banking Industry, Central Coast, Top Stories  /  Comments Off on Heritage Oaks CFO resigns

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.

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Wiser Capital to raise $100M for solar projects

By   /  Thursday, January 9th, 2014  /  Banking & Finance, Banking Industry, Technology, Top Stories  /  Comments Off on Wiser Capital to raise $100M for solar projects

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.

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Funari leaves Business First for Bank of Santa Barbara

By   /  Friday, November 1st, 2013  /  Banking & Finance, Banking Industry, Latest news, South Coast  /  Comments Off on Funari leaves Business First for Bank of Santa Barbara

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.

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Treasury nets $3.2M loss on TARP in region

By   /  Friday, November 1st, 2013  /  Banking & Finance, Banking Industry, Top Stories, Tri-County Economy  /  Comments Off on Treasury nets $3.2M loss on TARP in region

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.

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Heritage buy sets stage to compete in big leagues

By   /  Friday, October 25th, 2013  /  Banking & Finance, Banking Industry, Central Coast, East Ventura County, South Coast, Top Stories, Tri-County Economy, West Ventura County  /  Comments Off on Heritage buy sets stage to compete in big leagues

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.

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Heritage shares rise despite profit dip

By   /  Thursday, October 24th, 2013  /  Banking & Finance, Banking Industry, Earnings, Latest news, Tri-County Public Companies  /  Comments Off on Heritage shares rise despite profit dip

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Heritage Oaks to buy Mission Community for $56M

By   /  Monday, October 21st, 2013  /  Banking & Finance, Banking Industry, Latest news  /  Comments Off on Heritage Oaks to buy Mission Community for $56M

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