Saks OFF 5th building up for sale for $21 million
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Philanthropist, banker and developer Michael Towbes dies at 87
Updated at 10 a.m. April 14: Michael Towbes, the tri-county region’s most prominent philanthropist, banker and real estate developer, whose influence spanned nearly six decades, died April 13. He was 87. “He passed away early this morning, surrounded by family, in peace,” said Towbes Group President Craig Zimmerman, in an email to the Business Read More →
SBCAG upbeat on state funds for Highway 101 widening
More highway lanes, yes. Commuter trains, not so much. That was the word from Santa Barbara County Association of Governments Executive Director Marjie Kirn, who told business leaders on April 10 she’s optimistic that passage of a California transportation tax will fill a big part of the $300 million gap in funding for the Highway Read More →
Mercer Advisors acquires Duckworth Wealth Advisors
Santa Barbara-based investment firm Mercer Advisors acquired Duckworth Wealth Advisors in Newport Beach, the company announced Feb. 13. Mercer acquired Duckworth and its $160 million in client assets for an undisclosed price, creating a combined company with more than $9.6 billion and 6,400 clients nationwide. Duckworth offers investment management, financial planning, estate and tax planning Read More →
American Riviera Bank’s net income soared in 2016
Santa Barbara-based American Riviera Bank reported net income of $4.1 million in 2016, or 94 cents per share, up from $1.3 million in 2015, or 48 cents per share, as the acquisition of The Bank of Santa Barbara has paid dividends, the company said. The all-stock transaction, completed in January 2016, created a combined institution Read More →
Rate hikes will be boon for tri-county banks in 2017
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Hotels going up across Tri-Counties to meet demand
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