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Montecito Bank & Trust
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Power-One predicts European solar revival in Q2

By   /  Thursday, May 3rd, 2012  /  Banking & Finance, Earnings, Technology, Tri-County Public Companies  /  Comments Off on Power-One predicts European solar revival in Q2

Signs of a resurgence in its European market prompted Power-One to project better-than-expected second-quarter profits on May 3 even as it said that first-quarter income dropped 84.1 percent to $4.9 million, or 3 cents per diluted share. Net sales were up 8.3 percent to $225.8 million. The company’s renewable energy division contributed $149 million to Read More →

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ValueClick shares drop 22% on Q2 outlook

By   /  Thursday, May 3rd, 2012  /  Banking & Finance, Earnings, Latest news, Technology, Tri-County Public Companies  /  Comments Off on ValueClick shares drop 22% on Q2 outlook

Shares of online advertising firm ValueClick plunged 22.2 percent after the Westlake Village-based firm projected lower-than-expected second-quarter revenues of between $155 million and $160 million. One analyst told Bloomberg News that the company is reducing traffic in its owned-and-operated website segment. ValueClick reported first-quarter profits of $21.6 million – 27.8 percent above the same quarter Read More →

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American Perspective reports $462K in profits ahead of PacWest deal

By   /  Thursday, May 3rd, 2012  /  Banking & Finance, Banking Industry, Latest news  /  Comments Off on American Perspective reports $462K in profits ahead of PacWest deal

American Perspective Bank, the San Luis Obispo-based lender being pursued by PacWest Bancorp, reported first-quarter profits of $462,000, about the same as it earned in the same period a year earlier. American Perspective is being purchased by Los Angeles-based PacWest, parent of Pacific Western Bank, in a $58.1 million deal announced April 30. The offer Read More →

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Fed presidents: European woes threaten U.S. economy

By   /  Thursday, May 3rd, 2012  /  Banking & Finance, Banking Industry, Top Stories, Tri-County Economy  /  1 Comment

The U.S. central bank, which has grown its balance sheet from the roughly $800 billion it held steady at for decades to almost $3 trillion in response to the country’s financial crisis, will have to navigate the unwinding of that balance sheet cautiously when the time comes. That was the view from the three Federal Read More →

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$58.1M PacWest offer puts American Perspective in bidding war

By   /  Monday, April 30th, 2012  /  Banking & Finance, Banking Industry  /  Comments Off on $58.1M PacWest offer puts American Perspective in bidding war

PacWest Bancorp’s $58.1 million offer to buy American Perspective Bank has trumped an earlier deal for the Central Coast lender. The April 30 acquisition offer from Los Angeles-based PacWest, parent of Pacific Western Bank, comes three weeks after Umpqua Holdings Corp. of Oregon said it would buy American Perspective for $44.7 million in cash, or Read More →

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Community West earned $819K in Q1

By   /  Monday, April 30th, 2012  /  Banking & Finance, Banking Industry, Latest news  /  Comments Off on Community West earned $819K in Q1

First-quarter profits at Community West Bancshares were up 38 percent to $819,000, the Goleta-based banking company said April 30. The parent of Community West Bank is under regulatory orders from the Federal Reserve Bank of San Francisco and Office of the Comptroller of the Currency that limit its ability to pay out dividends, sell stock Read More →

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Ringing in retirement: Santa Barbara firms team up on baby boomer effort

By   /  Friday, April 27th, 2012  /  Banking & Finance, Features, Personal Finance, Technology  /  Comments Off on Ringing in retirement: Santa Barbara firms team up on baby boomer effort

You know what age you’d like to retire at, but you’ve probably averted your eyes from the horrors of your 401(k) in recent years. But when will you actually be able to retire? And what if the answer contains three digits? Those are the questions that FreeRetirementReport.com, the brainchild of veteran Santa Barbara asset manager Read More →