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Montecito Bank & Trust
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Pacific Capital reports $28M loss, but Sept. profit

By   /  Tuesday, November 9th, 2010  /  Banking & Finance, Banking Industry, Earnings, Latest news, Tri-County Public Companies  /  Comments Off on Pacific Capital reports $28M loss, but Sept. profit

Editor’s Note: This story was updated at 4:50 p.m. Pacific Capital Bancorp lost nearly $28 million in July and August but said the first month under its new Texas owners was profitable. Texas-based private equity firm Ford Financial Fund acquired 86 percent of Pacific Capital for $500 million at the end of August. Pacific Capital Read More →

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Banks in no rush to repay TARP money

By   /  Monday, November 8th, 2010  /  Banking & Finance, Banking Industry, Top Stories  /  Comments Off on Banks in no rush to repay TARP money

Two years after the U.S. Treasury Department rolled out its Troubled Asset Relief Program, the federal rescue plan for banks, eight of the nine banks based in the Tri-Counties that took those funds have not yet repaid them. The one bank in the region that has repaid its TARP funds — Santa Barbara-based Pacific Capital Read More →

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Inphi predicts $10-$12 IPO price

By   /  Friday, November 5th, 2010  /  Banking & Finance, Technology, Tri-County Public Companies  /  Comments Off on Inphi predicts $10-$12 IPO price

Inphi Corp., the chip design firm with a big presence in Ventura County, expects the shares of its initial public offering to sell for between $10 and $12. With shares scheduled to hit the market as early as Nov. 10, Inphi would raise $74.8 million if investors buy in the middle of its range. It Read More →

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U.S. should set inflation target, Fed economist says at UCSB

By   /  Wednesday, October 27th, 2010  /  Banking & Finance, Tri-County Economy  /  Comments Off on U.S. should set inflation target, Fed economist says at UCSB

Setting the federal funds interest rate target at zero is a trap, and one the Federal Reserve would be better off avoiding, St. Louis Federal Reserve Economist Bill Gavin said at an Oct. 27 appearance at UC Santa Barbara. Warning of the dangers of the so-called “zero lower bound,” when the federal funds rate is Read More →

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Amgen reports earnings drop

By   /  Monday, October 25th, 2010  /  Earnings, Technology, Tri-County Public Companies  /  Comments Off on Amgen reports earnings drop

Thousand Oaks-based Amgen said Oct. 25 that third-quarter earnings fell 14 percent to $1.3 billion as revenue flatlined. Amgen is the world’s biggest biotech company and the largest private employer in the Tri-Counties. It reported adjusted earnings per share of $1.36, a decrease of 9 percent compared to the same quarter last year. Total revenue Read More →

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Pacific Capital gets delisting warning

By   /  Wednesday, October 13th, 2010  /  Banking & Finance, Banking Industry, Latest news, Tri-County Public Companies  /  Comments Off on Pacific Capital gets delisting warning

Pacific Capital Bancorp said in an Oct. 13 filing with the U.S. Securities and Exchange Commission that the Nasdaq stock market has told it to get its stock price back above $1 before April 6, 2011, or potentially be delisted. The Santa Barbara-based banking firm — the holding company for Santa Barbara Bank & Trust Read More →

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Major shareholders file suit against Occam

By   /  Thursday, October 7th, 2010  /  Banking & Finance, Latest news, Technology, Tri-County Public Companies  /  Comments Off on Major shareholders file suit against Occam

A group of shareholders who between them own about 19 percent of Occam Networks filed suit Oct. 6 against Occam’s board of directors to stop the proposed acquisition of the company by Calix. In a news release announcing the suit, the investors — who include legendary hedge fund manager Michael Steinhardt — claim the $171 Read More →

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