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Montecito Bank & Trust
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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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Banking on downtown SLO: Heritage Oaks buys former Union Bank building

By   /  Friday, October 18th, 2013  /  Banking & Finance, Banking Industry, Central Coast, Real Estate, Tri-County Economy  /  Comments Off on Banking on downtown SLO: Heritage Oaks buys former Union Bank building

The multimillion-dollar sale of a prime property in the heart of the Central Coast’s busiest downtown comes amid a flurry of building activity that had some developers bidding on the lot in hopes of developing the bank building’s adjacent parking lot, which faces the corner of Marsh and Osos streets. But the timing was too good for Heritage Oaks to pass the location up, said Simone Lagomarsino, the bank’s CEO.

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Rival bankers place their bets on Ventura County rebound

By   /  Friday, October 4th, 2013  /  Banking & Finance, Banking Industry, East Ventura County, Top Stories, Tri-County Economy, West Ventura County  /  Comments Off on Rival bankers place their bets on Ventura County rebound

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MB&T chief highlights role of community banks

By   /  Friday, September 6th, 2013  /  Banking & Finance, Banking Industry, Latest news  /  Comments Off on MB&T chief highlights role of community banks

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Small-business groups can match banks, borrowers

By   /  Friday, September 6th, 2013  /  Banking & Finance, Banking Industry, Small Business, Top Stories  /  Comments Off on Small-business groups can match banks, borrowers

Business is as much about who you know as what you know.

Long-time art gallery owner Sylvia White came to realize that as she struggled to get financing to purchase a building in downtown Ventura. She had purchased the gallery space with owner financing several years earlier. But now the five-year period on that high-interest loan was coming up, and White needed a bank to take over. She was turned down by lenders again and again.

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