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By Marlize van Romburgh / Friday, November 30th, 2012 / Banking & Finance, Banking Industry, Latest news, Tri-County Economy / Comments Off on Union Bank to slash almost half of SBB&T work force
Union Bank will lay off almost 500 Santa Barbara Bank & Trust employees, or nearly half the bank’s work force, the San Francisco-based lender announced on the eve of its acquisition of Pacific Capital Bancorp. A spokesperson for Union Bank told the Business Times that 468 SBB&T positions will be eliminated over the next year. Read More →
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By Stephen Nellis / Friday, November 16th, 2012 / Banking & Finance, Technology, Top Stories / Comments Off on $430M deal rolls Row 44 onto Nasdaq
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By Marlize van Romburgh / Friday, November 9th, 2012 / Banking & Finance, Banking Industry, Top Stories / Comments Off on $231M First California sale shakes up bank ranks
With the Tri-Counties’ two largest banks being acquired by bigger players, the regional lending landscape is shifting dramatically away from community financial institutions. Los Angeles-based PacWest Bancorp said Nov. 6 that it is buying First California Financial Group for $231 million in an all-stock deal. At $8 per share, PacWest’s bid represents an 18.5 percent Read More →
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By Dana Olsen / Friday, October 26th, 2012 / Health Care & Life Science, Technology, Top Stories / Comments Off on Helix Medical buy adds 260 people to its payroll
As part of its long-term strategy to build itself into a self-sustaining medical device company, Carpinteria-based Helix Medical has acquired MedVenture Technology Corp. Helix, which is mainly a manufacturer of components for medical devices, bought MedVenture, a Kentucky-based medical device design, development and manufacturing company that also has offices in Indiana and Minnesota, in a Read More →
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By Staff Report / Monday, October 1st, 2012 / Banking & Finance, Banking Industry, Latest news, Tri-County Public Companies / Comments Off on Heritage Oaks to buy Morro Bay branch from Coast National
Paso Robles-based Heritage Oaks Bank is buying the Morro Bay branch and assets of San Luis Obispo-based Coast National Bank. The acquisition, announced Oct. 1, will include about $30 million in deposit accounts. It will also include the branch building. Heritage Oaks said it will pay “market value” for the building at 898 Morro Bay Read More →
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By Staff Report / Thursday, September 6th, 2012 / Latest news / Comments Off on KEYT sold to Missouri media firm
KEYT-TV, the ABC-affiliated television station serving Santa Barbara and San Luis Obispo counties, has been sold to Missouri-based News-Press & Gazette Co., or NPG. Terms of the deal were not disclosed. “We have greatly valued the opportunity to serve the communities of California’s Central Coast,” KEYT’s general manager, Michael Granados, said in a statement. “Fortunately, Read More →
