Portfolio Watch
Scott Anderson at Bank of the West is warning about a “residential housing market swoon,” with home prices dropping 0.54% in November, according to the S&P CoreLogic Case-Shiller index. “Home prices have declined for five consecutive months,” he added noting that the biggest decliners included San Francisco, Phoenix and Las Vegas, with declines of more Read More →
Montecito Bank & Trust closes out 2022 strong
Despite total assets dropping from the end of last year, Montecito Bank & Trust reported an overall strong growth in income and loans to close out fiscal year 2022, the financial institution reported Jan. 30. Montecito Bank & Trust, the biggest bank in the tri-county region, reported income grew to $18.27 million for the year Read More →
AppFolio beats revenue estimates
Goleta-based AppFolio beat analysts’ expectations in both earnings and revenue when it released its financial results for the fourth quarter on Jan. 26. AppFolio, a software company for the real estate industry, announced revenue worth $124.1 million in the fourth quarter, a 30% increase from the same quarter a year ago. But the company’s net Read More →
Benn: Inn at Avila Beach sold
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Citizens Business Bank hits new highs in 2022
CVB Financial Corp., the parent company of Citizens Business Bank, reported a net income of $66.2 million for the quarter ending Dec. 31, representing a 38% increase from $47.7 million in the same quarter in 2021. Diluted earnings per share hit 47 cents in the fourth quarter, compared to 35 cents for the same period Read More →
Teledyne caps off strong year with record-breaking fourth quarter
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Venture capital spending to keep cooling in ’23 amid economic concerns
By Mike Harris, Special to the Business Times This year will be a cautious one for venture capital investors, panelists at a round table discussion in Westlake Village said on Jan. 18. “I think it will be slow and cautious,” said moderator Scott Alderton, managing partner of Los Angeles-based law firm Stubbs, Alderton and Markiles, Read More →
