American Riviera Bank tops $1B in assets
American Riviera Bank recorded more than $1 billion in assets for the first time when it reported its financial results for the first quarter of 2021. The Santa Barbara-based bank saw its net income rise during the quarter to $2.56 million, or 50 cents per share, compared to net income of $1.2 million, or 23 Read More →
Citizens Business bank reports income jump
Citizens Business Bank saw its net income rise more than 30% in the first quarter of 2021 as it blew past analysts’ estimates. The Ontario-based bank, which has five branches in the tri-county region, recorded a net income of $50.1 million, or 47 cents per diluted share, compared to $38 million, or 27 cents per Read More →
Pacific Western Bank reports earnings recovery in first quarter
PacWest Bancorp saw its net income soar a year after a devastating low. The parent company of Pacific Western Bank, which is based in Los Angeles and has 15 branches in the Tri-Counties, reported net income of $150 million, or $1.27 per diluted share, for the first quarter of 2021. In the first quarter of Read More →
Community Bank of Santa Maria reports income decline, asset growth
Community Bancorp of Santa Maria saw its net income decline from the first quarter of 2020 to the first quarter of 2021, even though other financial measures soared year-over-year. The bank’s net income declined 7.2%, going from $609,521 to $565,683 in a year’s time, but during the same time total assets grew almost 37%, the Read More →
Sierra Bancorp reports income spike
Sierra Bancorp, a Porterville-based bank with 11 branches in the tri-county region, saw its net income spike more than 40% during the first quarter of 2021 when compared with the same quarter of 2020. The bank reported a net income of $11.1 million, or 72 cents per diluted share, for the quarter ended March 31. Read More →
Cure Pharmaceutical navigates CBD acquisition, licensing dispute
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Revenues and losses both grew at Cure in 2020
Cure Pharmaceutical, an Oxnard company with a CBD products subsidiary, reported steep revenue growth but rising net losses in the fourth quarter and full year of 2020. In an annual statement released April 1, Cure reported revenue of $2.1 million in the final quarter of 2020, up 229% from the same quarter a year before. Read More →
