American Riviera Bank reports income drop due to merger with Bank of Santa Barbara
American Riviera Bank reported a 17 percent decrease in unaudited net income in 2015 as the institution prepared for its merger with The Bank of Santa Barbara. American Riviera acquired The Bank of Santa Barbara in an all-stock deal valued close to $18 million, creating a “force to be reckoned with,” said Joanne Funari, the Read More →
County Commerce Bank shareholders OK merger with Citizens Business Bank
County Commerce Bank shareholders approved its proposed merger with Citizens Business Bank, which is expected to close on Feb. 29. “Citizens Business Bank’s philosophy and business model is very similar to ours and is the perfect fit for County Commerce Bank, and most importantly, our customers and employees. We are excited to be partnering with Read More →
Amgen Tour of California to include Thousand Oaks to Santa Barbara leg
Organizers of the 12th annual Amgen Tour of California bicycle race announced the full route on Jan. 28. The 2016 race will run 782.7 miles from San Diego to Sacramento from May 15 to May 22. This year will also be just the second time out of 11 previous races that the route runs south Read More →
Amgen revenues up 8 percent in 2015
Despite increased competition from biosimilars and blockbuster mergers by its rivals, Amgen revenues rose 8 percent to $21.67 billion in 2015 from $20.06 billion in 2014. Thousand Oaks-based biotech giant Amgen released its fourth-quarter earnings after markets closed on Jan. 28. Quarterly revenues were also up 4 percent to $5.54 billion in 2015 from $5.33 Read More →
Montecito Bank & Trust profits up 21 percent in 2015
Santa Barbara-based Montecito Bank & Trust reported net income of $15.9 million for 2015, up from $13.1 million in 2014. Total gross loans grew 17 percent year-over-year, totaling $711 million on Dec. 31. Total assets were up $53 million in 2015 to $1.2 billion. Total deposits increased 4.5 percent to $1.1 billion, up $48 million. Read More →
Community West Bancshares fourth-quarter income down from previous year
Community West Bancshares, parent company of Community West Bank headquartered in Goleta, reported a net income of $1.9 million for the fourth quarter of 2015, down from $2.2 million the previous year. For the full year, Community West reported net income of $2.9 million, down from $7 million in 2014. Excluding the $7.1 million net Read More →
Ceres awarded patent in Australia for trait that increases crop yields
Thousand Oaks-based Ceres Inc., an ag-biotech company, was awarded a patent in Australia for a trait that allows growers to increase yields without increasing crop inputs like fertilizer. The patent extends intellectual property protection to the Australian market of a key gene that Ceres has licensed to a multinational crop developer. It covers uses of Read More →
