Economist in SLO: ‘odd recovery,’ but economy ‘on fire’
History shows that natural disasters have had “little” long-term economic impact, according Chris Thornberg, an economist who spoke at the annual Central Coast Economic Forecast on Nov. 5 in San Luis Obispo. In spring 2020, the United States economy abruptly came to a sudden halt as public health officials issued restrictions, such as stay-at-home orders Read More →
Income up 24% at Montecito Bank, assets top $2B
Montecito Bank & Trust, the biggest bank based in the tri-county region, reported asset growth of nearly 22% in the past year, while loan growth softened because of accelerated pandemic-related loan forgiveness and additional loan payoffs. The Santa Barbara-based bank said in an Oct. 18 earnings release that its total assets grew $404.53 million in Read More →
Central Coast coalition aims to launch aerospace economy from Ventura to Santa Cruz
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Earnings, loans, assets all up at American Riviera Bank
American Riviera Bank’s core loans rose 20% during the past year and the bank continues to experience “tremendous” deposit growth, the company said in its Oct. 25 earnings release. The Santa Barbara-based bank reported that its core loans, not counting federal Paycheck Protection Program loans, grew to $124 million by Sept. 30, the end of Read More →
SLO-LAX flights return next week
United Airlines will resume flying between San Luis Obispo and Los Angeles International Airport on Nov. 1, a route that the airline put on hold early in the COVID-19 pandemic. “We are delighted to see this connectivity return,” San Luis Obispo County Director of Airports Courtney Johnson said in an Oct. 25 news release announcing Read More →
Region’s unemployment rate drops below 5%
The unemployment rate in the tri-county region dropped nearly a full percentage point between August and September, to reach its lowest level since before the COVID-19 pandemic began. The combined unemployment rate of Ventura, Santa Barbara and San Luis Obispo counties was just under 5% in September, down from 5.9% in August, according to a Read More →
Earnings, assets both up at Pacific Premier Bank
Pacific Premier Bancorp saw its net income and assets grow in its most recent quarter, the company announced Oct. 21. The Irvine-based bank, which has nine branches in Santa Barbara and San Luis Obispo counties, reported net income of $90.1 million, or 95 cents per diluted share, for the quarter ended Sept. 30. For the Read More →
