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Montecito Bank & Trust
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Citizens Business Bank second quarter net income down from 2015

By   /  Thursday, July 21st, 2016  /  Banking & Finance, Banking Industry, Earnings, Latest news  /  Comments Off on Citizens Business Bank second quarter net income down from 2015

CVB Financial Corp. and its subsidiary Citizens Business Bank reported $25.5 million net income for the second quarter of 2016, or 23 cents per share. That was down from $26.8 million for the second quarter of 2015, or 25 cents per share. Citizens Business Bank completed the integration of County Commerce Bank in the second Read More →

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Lockheed Martin second quarter earnings beat analyst estimates

By   /  Tuesday, July 19th, 2016  /  Earnings, Latest news  /  Comments Off on Lockheed Martin second quarter earnings beat analyst estimates

Lockheed Martin revenues increased slightly and the company beat analyst estimates when it reported second quarter earnings results July 19. Lockheed Martin said sales increased during the quarter from $11.6 billion during the same quarter in 2015 to $12.9 billion in 2016. Earnings per share increased from $2.94 to $3.32 per share over the same Read More →

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Montecito Bank & Trust hires Leis to be COO

By   /  Monday, July 18th, 2016  /  Banking & Finance, Banking Industry, Latest news  /  Comments Off on Montecito Bank & Trust hires Leis to be COO

Updated at 8:10 p.m.: Montecito Bank & Trust, one of the largest privately-owned banks in California, has hired veteran Union Bank executive George Leis to join its executive team. Effective July 19, Leis will become chief operating officer reporting to President and CEO Janet Garufis. He’ll oversee the bank’s lending, retail and business banking activities Read More →

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Ceres third-quarter revenue up, losses down

By   /  Friday, July 15th, 2016  /  Earnings, Latest news, Tri-County Public Companies  /  Comments Off on Ceres third-quarter revenue up, losses down

Thousand Oaks-based ag-biotech company Ceres Inc. released third quarter results in documents filed with the Securities and Exchange Commission July 15. Ceres said revenues increased from $1.1 million during the third quarter of 2015 to $1.4 million during the third quarter of 2016. Net losses decreased from $5.9 million, or 98 cents per share, last Read More →

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Bank of the Sierra completes acquisition of Coast National Bank

By   /  Tuesday, July 12th, 2016  /  Banking & Finance, Banking Industry, Latest news  /  Comments Off on Bank of the Sierra completes acquisition of Coast National Bank

Sierra Bancorp, holding company of Bank of the Sierra, has completed its acquisition of Coast Bancorp of San Luis Obispo County. Coast Bancorp shareholders received approximately $13.5 million — $3.3 million in cash and the balance in Sierra Bancorp stock. Coast Bancorp’s wholly-owned subsidiary, Coast National Bank, was merged into Sierra Bancorp’s wholly-owned subsidiary, Bank Read More →

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FDA finds Amgen biosimilar replicates effects of Humira

By   /  Friday, July 8th, 2016  /  Health Care & Life Science, Latest news, Tri-County Public Companies  /  Comments Off on FDA finds Amgen biosimilar replicates effects of Humira

The Food and Drug Administration said a new Amgen biosimilar replicates the effects of a competitor’s blockbuster drug July 8. ABP 501 replicates the effects of Humira, which is approved to treat nine conditions including rheumatoid arthritis, skin disorders and colon inflammation. The drug, made by Chicago-based competitor AbbVie, typically costs $20,000 per year for Read More →

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Stellar Biotechnologies offerings raise $6.75 million

By   /  Thursday, July 7th, 2016  /  Health Care & Life Science, Latest news, Tri-County Public Companies  /  Comments Off on Stellar Biotechnologies offerings raise $6.75 million

Stellar Biotechnologies, a Port Hueneme-based company which makes medicines from the blood of animals found only off the coast of California, closed two private offerings July 6. Stellar closed one offering of 1.7 million common shares sold to institutional investors for $4 per share. In a separate concurrent offering, the company also sold 1.3 million Read More →