Community Bank of Santa Maria notes key increases in second quarter
The Community Bank of Santa Maria announced its earnings for the second quarter on July 10, finding that it had recorded increases in net income and net loans. In the second quarter, the bank saw net income increase 50.7% year-over-year to $1.3 million. Similarly, net loans increased 8.9% from the second quarter of last year Read More →
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Montecito Bank remains “well-capitalized” after the first quarter
Montecito Bank & Trust reported a 30% increase in net income for the first quarter of 2023 on June 6, even despite a drop in total deposits. Montecito Bank & Trust generated $4.8 million in the first quarter while assets closed at $2.1 billion. According to the bank, it remains well-capitalized as its total risk-based Read More →
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Bravery in early Santa Barbara banking
David Spainhour, who played a lead role in the rise of Santa Barbara Bank & Trust to become the region’s dominant banking institution in the 1990s and early 2000s, died in Santa Barbara on May 28. He was 91. Spainhour, a native of Los Angeles, took the biggest risk of his career in the 1960s Read More →
