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By Jorge Mercado / Tuesday, May 10th, 2022 / Banking & Finance, Earnings, Latest news, Regions, Santa Barbara County, Subscriber content, Technology, Tri-County Public Companies / Comments Off on AppFolio shares drop after report of Q1 losses
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By pacbiztimes / Monday, May 9th, 2022 / Banking & Finance, Earnings, Latest news, Real Estate, Regions, Tri-County Public Companies, Ventura County / Comments Off on Mortgage slowdown leads to income decline at PennyMac
NOTE: This article was posted May 9 and revised May 10 to correct an error in the headline and first sentence. PennyMac Financial Services reported net profits for the quarter, not a loss as we initially reported, while PennyMac Mortgage Investment Trust reported a loss. Amid a “challenging mortgage market,” Westlake Village-based mortgage lender PennyMac Read More →
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By pacbiztimes / Thursday, May 5th, 2022 / Banking & Finance, Earnings, Latest news, Real Estate, Regions, Tri-County Public Companies, Ventura County / Comments Off on Velocity Financial reports drop in earnings
Velocity Financial, a Westlake Village-based mortgage lender for small multifamily residential and commercial properties, reported a steep decline in earnings for the first quarter of 2022 when compared to a year earlier. In an earnings report released May 5, Velocity reported net income of $3.1 million, or 9 cents per share, down from $8.4 million, Read More →
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By Staff Report / Tuesday, May 3rd, 2022 / Agribusiness, Banking & Finance, Latest news, Regions, Top Stories, Tri-County Public Companies, Ventura County / Comments Off on Calavo CFO to step down
Calavo Growners, a Santa Paula-based distributor of avocados and other produce, announced May 3 that its CFO will be leaving the company. When Mariela Matute steps down on May 19 and CEO Brian Kocher takes over as interim CFO, Calavo will have its fifth permanent or interim CFO in the past two years. John Lindeman Read More →
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By pacbiztimes / Tuesday, May 3rd, 2022 / Banking & Finance, Banking Industry, Earnings, Latest news, Regions, Santa Barbara County, Tri-County Public Companies, Ventura County / Comments Off on Montecito Bank reports growth in assets, drop in loans for Q1
Montecito Bank & Trust’s assets increased more than 14% in the year ended March 31, with “strong” deposit growth, the bank said in its May 2 first-quarter earnings release. The Santa Barbara-based bank, the largest financial institution based in the tri-county region, said its total assets rose $302.45 million, closing at $2.39 billion, at the Read More →
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By pacbiztimes / Monday, May 2nd, 2022 / Banking & Finance, Banking Industry, Earnings, Latest news, Regions, Santa Barbara County, Tri-County Public Companies / Comments Off on Income grows at Community West Bank as PPP loans phase out
Net income for Goleta-based Community West Bancshares increased more than 31% for the quarter ended March 31, to $4 million, or 45 cents per diluted share, the company announced April 29. The holding company for Community West Bank reported net income of $3 million, or 35 cents per diluted share, for the same period last Read More →
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By pacbiztimes / Thursday, April 28th, 2022 / Banking & Finance, Earnings, Latest news, Regions, Tri-County Public Companies, Ventura County / Comments Off on LTC reports slight increase in income for Q1
Westlake Village-based LTC Properties saw its net income and total assets rise in the first quarter compared to a year earlier, the company said in its April 28 earnings release. For the three months ended March 31, LTC had net income of $14.3 million, or 36 cents per diluted share, up from $13.6 million, or Read More →