Montecito Bank & Trust reports growth in assets, loans, deposits and income
Montecito Bank & Trust’s total assets grew by $68.1 million to $1.3 billion in the prior 12-month period, according to a quarterly report released April 20. The bank also reported loan growth of $155 million and increased deposits by 7.34 percent. The bank also reported that its net income for the period grew 28 percent Read More →
Banker, developer Towbes prioritized philanthropy
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American Riviera Bank reports strong growth
Santa Barbara-based American Riviera Bank showed strong growth for the first quarter of 2017, posting an unaudited net income of $956,000 or 22 cents per share. The rise represents a 426 percent increase from the $182,000 or 4 cents per share reported for the first quarter ended March 31, 2016. The growth is the latest Read More →
Philanthropist, banker and developer Michael Towbes dies at 87
Updated at 10 a.m. April 14: Michael Towbes, the tri-county region’s most prominent philanthropist, banker and real estate developer, whose influence spanned nearly six decades, died April 13. He was 87. “He passed away early this morning, surrounded by family, in peace,” said Towbes Group President Craig Zimmerman, in an email to the Business Read More →
Simone Lagomarsino named president of California Bankers Association
Simone Lagomarsino, former president and CEO of Heritage Oaks Bancorp, has been named president of the California Bankers Association. The association made the announcement April 11. She will replace Rod Brown, who plans to retire after a decade at the helm of the organization. Lagomarsino joined Heritage Oaks in September 2011, with more than 20 Read More →
PacWest Bancorp acquires CU Bancorp in $705 million deal
PacWest Bancorp has acquired CU Bancorp in a transaction valued at approximately $705 million. CU Bancorp, headquartered in Los Angeles, is the parent of California United Bank, which has branches in Thousand Oaks and Simi Valley. The bank has about $3 billion in assets and nine branches in Los Angeles, Orange, Ventura and San Bernardino Read More →
Towbes giving up reins at Montecito Bank & Trust
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