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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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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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