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By Staff Report / Tuesday, February 18th, 2014 / Banking & Finance, Banking Industry, Central Coast / Comments Off on Mission Community shareholders approve $56M acquisition
Shareholders of San Luis Obispo-based Mission Community Bancorp have voted overwhelmingly in favor of a proposed merger with Heritage Oaks Bancorp out of Paso Robles. The $56 million deal was announced in October 2013 and would leave Heritage Oaks as the survivor and the largest bank based in the Tri-Counties.
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By Stephen Nellis / Friday, January 31st, 2014 / Banking & Finance, Banking Industry, Central Coast, East Ventura County, Law & Goverment, Personal Finance, South Coast, Technology, Top Stories, Tri-County Economy, Tri-County Public Companies, West Ventura County / Comments Off on Inogen IPO is subject to looser SEC rules
If Goleta-based Inogen goes public this year, it will be the first firm in the region to do so under new securities rules that make it easier for small companies to become listed on the major exchanges but also allow them to reveal less information to investors than their larger counterparts.
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By Staff Report / Tuesday, January 14th, 2014 / Banking & Finance, Banking Industry, Central Coast, Top Stories / Comments Off on Heritage Oaks CFO resigns
Mark Olson has resigned from his position as chief financial officer and executive vice president at Paso Robles-based Heritage Oaks Bancorp, tied as the largest bank based in the region with about $1.2 billion in assets.
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By Staff Report / Thursday, January 9th, 2014 / Banking & Finance, Banking Industry, Technology, Top Stories / Comments Off on Wiser Capital to raise $100M for solar projects
Santa Barbara-based solar finance firm Wiser Capital said Jan. 9 that is has entered into a $100 million deal with Sandler O’Neill and Partners, a major Wall Street investment bank.
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By Staff Report / 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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By Marlize van Romburgh / 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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By Marlize van Romburgh / 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.
