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Montecito Bank & Trust
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Pacific Capital’s third quarter profits up 62%

By   /  Wednesday, October 24th, 2012  /  Banking & Finance, Banking Industry, Latest news  /  Comments Off on Pacific Capital’s third quarter profits up 62%

Santa Barbara Bank & Trust parent Pacific Capital said third-quarter earnings were up 62.2 percent to $33.2 million, or $1.01 per diluted share. The higher profits come on the eve of the sale of the region’s largest banking franchise to San Francisco-based Union Bank, a deal expected to close in the fourth quarter. Pacific Capital Read More →

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Amgen’s profits jump as forecast brightens

By   /  Tuesday, October 23rd, 2012  /  Banking & Finance, Earnings, Latest news, Technology, Tri-County Public Companies  /  Comments Off on Amgen’s profits jump as forecast brightens

Amgen reported higher-than-expected earnings on Oct. 23 and raised its outlook for the rest of the year. Amgen’s earnings are regionally significant because the Thousand Oaks biotech firm is Ventura County’s largest private sector employer. The company turned in adjusted third-quarter earnings of $1.67 a share, topping the Wall Street estimate of $1.47 by a Read More →

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Criminal trial ahead for Santa Barbara CPA

By   /  Friday, October 19th, 2012  /  Banking & Finance, Law & Goverment, Personal Finance, Top Stories  /  Comments Off on Criminal trial ahead for Santa Barbara CPA

In a criminal case headed for trial this month, the U.S. Justice Department alleges that Steve Pybrum, a Santa Barbara CPA who appeared on national media networks in the late 1990s, illegally routed revenue through a nonprofit and then falsified his personal income tax returns. Pybrum is set to go on trial Oct. 23 in Read More →

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Move buys Relocation.com for $11.5M

By   /  Thursday, October 11th, 2012  /  Banking & Finance, Latest news, Technology, Tri-County Public Companies  /  Comments Off on Move buys Relocation.com for $11.5M

Online real estate company Move has purchased Relocation.com, a marketplace for homebuyers, renters and moving and storage professionals, for $11.5 million in cash. Move, which also operates Realtor.com and Move.com, said the deal represents another step towards its ultimate goal of creating a one-stop online shop for home buyers and renters. “Our goal is to Read More →

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Tri-county bankruptcies are on the decline

By   /  Friday, October 5th, 2012  /  Banking & Finance, Law & Goverment, Top Stories, Tri-County Economy  /  Comments Off on Tri-county bankruptcies are on the decline

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Latest

Venoco founder closes deal to take firm private

By   /  Thursday, October 4th, 2012  /  Latest news, Tri-County Public Companies  /  Comments Off on Venoco founder closes deal to take firm private

With $471 million in financing, Venoco founder Tim Marquez is taking the oil and gas company he founded private more than a year after his bid to buy up the 49 percent of the company he doesn’t already own. Venoco, which is based in Denver but has significant operations on the South Coast, announced the Read More →

Latest

Heritage Oaks to buy Morro Bay branch from Coast National

By   /  Monday, October 1st, 2012  /  Banking & Finance, Banking Industry, Latest news, Tri-County Public Companies  /  Comments Off on Heritage Oaks to buy Morro Bay branch from Coast National

Paso Robles-based Heritage Oaks Bank is buying the Morro Bay branch and assets of San Luis Obispo-based Coast National Bank. The acquisition, announced Oct. 1, will include about $30 million in deposit accounts. It will also include the branch building. Heritage Oaks said it will pay “market value” for the building at 898 Morro Bay Read More →