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Montecito Bank & Trust reports income drop but strong loan and deposit growth

By   /  Wednesday, January 25th, 2017  /  Banking & Finance, Banking Industry, Earnings, Latest news, Tri-County Public Companies  /  Comments Off on Montecito Bank & Trust reports income drop but strong loan and deposit growth

Santa Barbara-based Montecito Bank & Trust reported an 8.5 percent drop in net income in 2016 to $14.6 million but saw strong loan and deposit growth. The decrease in net income was due to loan loss reversals in 2015 that were not repeated in 2016. The bank reported loan growth of 22 percent year over Read More →

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