December 4, 2022
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Heritage Oaks to buy Morro Bay branch from Coast National

By   /  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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Credit unions bank on consumer backlash

By   /  Friday, December 2nd, 2011  /  Banking & Finance, Banking Industry, Personal Finance, Top Stories  /  1 Comment

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Cal Oaks merger closes

By   /  Monday, January 3rd, 2011  /  Banking & Finance, Banking Industry, Latest news, Top Stories  /  Comments Off on Cal Oaks merger closes

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.

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First California to buy into debit card business

By   /  Thursday, December 30th, 2010  /  Banking & Finance, Banking Industry, Latest news, Personal Finance, Top Stories  /  Comments Off on First California to buy into debit card business

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.

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Pacific Capital hires Cal Fed veterans

By   /  Tuesday, December 28th, 2010  /  Banking Industry, Latest news, Top Stories, Tri-County Public Companies  /  Comments Off on Pacific Capital hires Cal Fed veterans

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.

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Editorial: Banks turning a big corner

By   /  Monday, November 15th, 2010  /  Editorials, Opinion  /  Comments Off on Editorial: Banks turning a big corner

Third quarter results on the banking front hint at a long-awaited turnaround in the region’s financial services industry. Pacific Capital Bancorp., the region’s largest banking institution, posted a profit for the month of September after getting a $500 million infusion from the Ford Financial group out of Texas. The bank has essentially got a new Read More →

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Heritage Oaks reports $11.3M loss

By   /  Tuesday, November 9th, 2010  /  Banking Industry, Earnings, Latest news, Tri-County Public Companies  /  Comments Off on Heritage Oaks reports $11.3M loss

Paso Robles-based Heritage Oaks Bancorp reported a third-quarter loss applicable to common shareholders of $11.3 million on Nov. 9, compared to a $5.6 million loss in the same quarter last year. The banking firm, the third largest based in the Tri-Counties, blamed the wider loss on a $10.5 million non-cash charge related to the valuation Read More →