Encino-based California United Bank completed its $17.2 million acquisition of Thousand Oaks-based California Oaks State Bank on Dec. 31. Cal Oaks shareholders will receive compensation of $11.35 per share, half in cash and half in shares of California United common stock, the banks announced Jan. 3.
Westlake Village-based First California Financial Group said Dec. 30 that it will buy the electronic banking division of Palm Desert-based Palm Desert National Bank, allowing it to move into the prepaid debit card market. Terms of the deal were not disclosed.
Pacific Capital Bancorp, the parent of Santa Barbara Bank & Trust that was recapitalized and taken over by Texas banking heavyweights Gerald Ford and Carl Webb earlier this year, is bringing aboard a new group of executives that helped Webb and Ford build out their last big venture.
The arrival of COLAB, the Coalition of Labor, Agriculture and Business, in Ventura County gives property-rights advocates another tool to protect what has become an endangered liberty in the Tri-Counties.
While restaurants and small businesses up and down the Central Coast are fuming about the need to send 1099 forms to their best customers, a fix for this foolish piece of the health care reform law languishes in the Congress.
As we get ready to put the finishing touches on another year, I wanted to just say a few words about our 10th anniversary accomplishments and talk about new initiatives in the works for 2011.
