By Henry Dubroff / Thursday, November 17th, 2011 / Columns, Opinion / Comments Off on Ford infusion a new model for banking
With a single brand, new systems, a seasoned team and a strong balance sheet, Pacific Capital Bancorp has gone from troubled bank to serious competitor.
Pacific Capital Bancorp, parent of Santa Barbara Bank & Trust, said Oct. 27 that it earned $20.5 million in the third quarter of 2011, marking its first full year of profits since a team of Texas bankers recapitalized it last year. In August 2010, Dallas-based Ford Financial Fund, led by veteran bankers Gerald Ford and Read More →
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.
Santa Barbara-based Pacific Capital Bancorp said Nov. 29 that it has completed its shareholder rights offering, raising $76.4 million by selling shares of common stock at 20 cents per share.
