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Montecito Bank & Trust
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Heritage Oaks Bank president retiring

By   /  Monday, March 28th, 2016  /  Banking Industry, Latest news  /  Comments Off on Heritage Oaks Bank president retiring

Paso Robles-based Heritage Oaks Bank announced the retirement of President and Chief Banking Officer Rick Arredondo on March 28. Arredondo, who joined the bank in early 2015, said he is retiring to pursue other interests but did not specify further. Simone Lagomarsino, president and CEO of the bank’s parent company, Heritage Oaks Bancorp, will reassume Read More →

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Change bankers’ incentives to get big

By   /  Friday, March 25th, 2016  /  Banking Industry, Latest news, Op/Eds, Opinion  /  Comments Off on Change bankers’ incentives to get big

  By Bill Watkins In popular culture, there are “good” industries and “evil” industries. Oil has held the most hated position of the evil list for generations and is likely to hold it until there is no more oil. Farming, once solidly on the good list, is moving to the evil list because its critics Read More →

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Montecito Bank & Trust gives $20,000 to region’s nonprofits

By   /  Friday, March 18th, 2016  /  Banking & Finance, Banking Industry, Latest news, Nonprofits  /  Comments Off on Montecito Bank & Trust gives $20,000 to region’s nonprofits

Santa Barbara-based Montecito Bank & Trust handed out $20,000 in grants to 10 of the region’s nonprofits to celebrate the bank’s 41st anniversary. For the past 24 years, the largest financial institution headquartered in Santa Barbara County has offered financial aid to nonprofits handpicked by its staff. MB&T held its annual celebration on March 17 Read More →

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Farm Credit West net income grows

By   /  Monday, March 14th, 2016  /  Banking & Finance, Banking Industry, Latest news  /  Comments Off on Farm Credit West net income grows

Roseville-based Farm Credit West increased its net income from $163 million in 2014 to $169 million in 2015, the credit union announced on March 14. Farm Credit West has offices in Carpinteria, Santa Maria, Templeton and Ventura, where it provides loans, leases and financial services to farmers, ranchers, rural homeowners, agribusinesses and agricultural and rural Read More →

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Citizens Business Bank finalizes acquisition of County Commerce Bank

By   /  Tuesday, March 1st, 2016  /  Banking & Finance, Banking Industry, Latest news  /  Comments Off on Citizens Business Bank finalizes acquisition of County Commerce Bank

Citizens Business Bank finalized its acquisition of County Commerce Bank, the company announced on Feb. 29. In exchange for all of County Commerce’s common stock and options, Citizens paid $41.25 million — half in stock and half in cash. That equates to $16.79 per County Commerce share. County Commerce earned 40 consecutive “Five Star” quarterly Read More →

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Central banks losing ability to steer global economies

By   /  Friday, February 12th, 2016  /  Banking & Finance, Banking Industry, Columns, Latest news  /  Comments Off on Central banks losing ability to steer global economies

Upheaval in the global markets in recent months may be signaling that the era of the all-powerful central bank may be coming to an end. Evidence is mounting that central bank moves are having less and less of the desired impact on regional economies. For Exhibit A we turn to the People’s Bank of China, Read More →

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OCB Bancorp income up 142 percent in 2015

By   /  Thursday, February 11th, 2016  /  Banking & Finance, Banking Industry, Earnings, Latest news  /  Comments Off on OCB Bancorp income up 142 percent in 2015

OCB Bancorp, the parent company of Ojai Community Bank, increased its year-over-year net income by 142 percent in 2015. OCB Bancorp’s net income grew from $380,000 in 2014 to $921,000 in 2015, or 40 cents in earnings per share. Total loans increased $48.2 million or 37.5 percent to $176.5 million in 2015. Total assets rose Read More →

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