November 27, 2022
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Latest

Velocity Financial reports drop in earnings

By   /  Thursday, May 5th, 2022  /  Banking & Finance, Earnings, Latest news, Real Estate, Regions, Tri-County Public Companies, Ventura County  /  Comments Off on 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 →

Latest

Montecito Bank reports growth in assets, drop in loans for Q1

By   /  Tuesday, May 3rd, 2022  /  Banking & Finance, Banking Industry, Earnings, Latest news, Regions, Santa Barbara County, Tri-County Public Companies, Ventura County  /  Comments Off on 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 →

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Income grows at Community West Bank as PPP loans phase out

By   /  Monday, May 2nd, 2022  /  Banking & Finance, Banking Industry, Earnings, Latest news, Regions, Santa Barbara County, Tri-County Public Companies  /  Comments Off on Income grows at Community West Bank as PPP loans phase out

Net income for Goleta-based Community West Bancshares increased more than 31% for the quarter ended March 31, to $4 million, or 45 cents per diluted share, the company announced April 29. The holding company for Community West Bank reported net income of $3 million, or 35 cents per diluted share, for the same period last Read More →

Latest

LTC reports slight increase in income for Q1

By   /  Thursday, April 28th, 2022  /  Banking & Finance, Earnings, Latest news, Regions, Tri-County Public Companies, Ventura County  /  Comments Off on LTC reports slight increase in income for Q1

Westlake Village-based LTC Properties saw its net income and total assets rise in the first quarter compared to a year earlier, the company said in its April 28 earnings release. For the three months ended March 31, LTC had net income of $14.3 million, or 36 cents per diluted share, up from $13.6 million, or Read More →

Latest

Amgen shares drop after earnings release and disclosure of $5B tax dispute

By   /  Wednesday, April 27th, 2022  /  Banking & Finance, Earnings, Health Care & Life Science, Latest news, left, Top Stories, Tri-County Public Companies  /  Comments Off on Amgen shares drop after earnings release and disclosure of $5B tax dispute

When Thousand Oaks-based Amgen released its financial results for the first quarter of 2022 on April 27, the biggest surprise didn’t come from its dip in net profits or rise in revenue, but from a tax dispute with the Internal Revenue Service. Amgen said it received a notice of deficiency from the IRS on April Read More →

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Teledyne reports record revenue, earnings beat in Q1

By   /  Wednesday, April 27th, 2022  /  Banking & Finance, Earnings, Latest news, Regions, Subscriber content, Technology, Top Stories, Tri-County Public Companies, Ventura County  /  Comments Off on Teledyne reports record revenue, earnings beat in Q1

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Latest

Bank of the Sierra reports drop in income

By   /  Monday, April 25th, 2022  /  Banking & Finance, Banking Industry, Earnings, Latest news, Tri-County Public Companies  /  Comments Off on Bank of the Sierra reports drop in income

Sierra Bancorp, a Porterville-based banking company with nine branches in the Tri-Counties, reported its net income dropped more than 30% for the first quarter of 2022, compared with the same quarter a year ago.   Net income was $7.4 million, or 49 cents per diluted share, for the quarter ended March 31, compared with $11.1 Read More →