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Montecito Bank & Trust
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Deckers shares plunge with predicted Q1 loss

By   /  Thursday, February 27th, 2014  /  Banking & Finance, South Coast, Top Stories  /  Comments Off on Deckers shares plunge with predicted Q1 loss

Shares of Ugg boot parent Deckers Outdoor Corp. were down almost 14 percent in after-hours trading on Feb. 27 (Deckers media photo)

Shares of Deckers Outdoor Corp. were down sharply in after-hours trading Feb. 27 as the company predicted a loss for this year’s first quarter of 16 cents per share compared to a 10-cent-per-share profit expected by Wall Street.

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LTC earnings jump 14.7%

By   /  Friday, February 21st, 2014  /  Banking & Finance, Earnings, Latest news, Real Estate  /  Comments Off on LTC earnings jump 14.7%

LTC Properties’ fourth-quarter profits jumped 14.7 percent to $13.7 million, or 40 cents per diluted share, it said on Feb. 20.

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Inogen shares stumble after $70.5M initial public offering

By   /  Friday, February 21st, 2014  /  Banking & Finance, Health Care & Life Science, Technology, Top Stories, Tri-County Public Companies  /  2 Comments

Shares of Goleta-based Inogen settled into the low $15 range as the Business Times went to press Feb. 19 after the company raised $70.5 million in an initial public offering that priced at $16, the low end of its expected range. In addition to selling shares, the company changed some of the disclosures it made to investors, pointing out its steep reliance on government and private insurance programs for 41 percent of its total revenue in 2012.

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Templar banks on grapes: Asset-based lender launches winery arm

By   /  Friday, February 21st, 2014  /  Banking & Finance, Banking Industry, Central Coast, Top Stories, Tri-County Economy, Wine & Viticulture  /  Comments Off on Templar banks on grapes: Asset-based lender launches winery arm

Templar Capital does asset-based lending and recently launched Vintners Capital, a lending arm that caters specifically to wine-related businesses by lending against wine-club subscriptions and equipment, along with other collateral.

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Heritage Oaks and Mission Community merger to close Feb. 28

By   /  Thursday, February 20th, 2014  /  Banking & Finance, Banking Industry, Central Coast, Top Stories, Tri-County Economy  /  Comments Off on Heritage Oaks and Mission Community merger to close Feb. 28

The $56 million deal will make Heritage Oaks the largest community bank in the Tri-Counties, with about $1.6 billion in assets.

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Connexity sold to Shopzilla

By   /  Thursday, February 20th, 2014  /  Banking & Finance, Technology, Top Stories, Tri-County Economy, West Ventura County  /  Comments Off on Connexity sold to Shopzilla

Ventura-based digital advertising firm Connexity has been purchased by Shopzilla, an online comparison shopping website out of Los Angeles, for an undisclosed sum.

The deal marks the first exit for a business that had operated out of the Ventura Ventures Technology Center, the city of Ventura’s startup incubator.

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Mission Community shareholders approve $56M acquisition

By   /  Tuesday, February 18th, 2014  /  Banking & Finance, Banking Industry, Central Coast  /  Comments Off on Mission Community shareholders approve $56M acquisition

Shareholders of San Luis Obispo-based Mission Community Bancorp have voted overwhelmingly in favor of a proposed merger with Heritage Oaks Bancorp out of Paso Robles. The $56 million deal was announced in October 2013 and would leave Heritage Oaks as the survivor and the largest bank based in the Tri-Counties.