Bank of the Sierra reports higher loan volume but income drop
Sierra Bancorp announced a slightly-lower net income when it released its fourth quarter 2020 earnings amid high deposit growth and record growth in loans and leases. The parent of Bank of the Sierra, which is based in Porterville but has 11 branches in the Tri-Counties, announced a fourth quarter net income of $9 million, or Read More →
Obituary: PennyMac founder Stanford Kurland
EDITOR’S NOTE: This article was updated Jan. 27 to include the fact that Kurland died of complications from COVID-19. Stanford Kurland made a fortune from his first foray into mortgage banking, and his timely exit from Countrywide Financial came just before the housing bubble burst. His second foray made him even richer, but it also Read More →
Wall Street loves AeroVironment’s latest acquisition
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Community Bancorp of Santa Maria reports rising revenue and expenses
Community Bancorp of Santa Maria saw another quarter of continued growth, buoyed by federal Paycheck Protection Program loans, even as net income fell. The bank’s total income rose 4.3%, but net income fell by more than 19%, going from $2.7 million in December 2019 to $2.2 million in the same month of 2020. Net loans Read More →
Mission Produce reports earnings drop in first post-IPO filing
Revenue and net income took a hit in the fourth quarter of 2020 for Oxnard-based Mission Produce, as the company released its first earnings report on Jan. 19 since its initial public offering in October. Mission Produce reported revenue totaling $206.8 million for the quarter ended Oct. 31, which was an 11% decrease from the Read More →
Next round of PPP loans rolling out to region’s banks
More than 1 million Paycheck Protection Program borrowers have already had their loans forgiven, to the sum of more than $100 billion, and the window to borrow more opens again soon. On Jan. 15, the U.S. Small Business Administration is reopening the PPP portal to financial institutions with less than $1 billion in assets. For Read More →
Salem Media Group faces new political landscape after Capitol riot
On Jan. 4, two days before a mob attacked the U.S. Capitol, the conservative activist and radio host Charlie Kirk tweeted that he had helped send “80+ buses full of patriots to DC to fight for this president.” He deleted the tweet after the march on the Capitol turned violent, resulting in the deaths of Read More →
