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 →
Fertilizers double and even triple in price due to war, pandemic, inflation
California farmers have had their share of troubles, with persistent drought and the COVID-19 pandemic shaking the industry in recent years. In 2022, Russia’s invasion of Ukraine has driven up the cost of fertilizer, which was already spiking, to record amounts. In addition to sunlight and water, crops need three key nutrients: nitrogen, phosphorous and Read More →
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 →
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 →
Recycling and the pursuit of a ‘circular economy’
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A new name marks a new era at The Colleges of Law
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Santa Barbara County court first in region to put civil filings online; other counties plan to follow suit
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