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KPMG scandal gives Conejo Valley’s elite a rude wakeup call

By   /  Friday, April 19th, 2013  /  Columns  /  Comments Off on KPMG scandal gives Conejo Valley’s elite a rude wakeup call

The Lake Wobegon days of the Conejo Valley are over.

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Union Bank to slash almost half of SBB&T work force

By   /  Friday, November 30th, 2012  /  Banking & Finance, Banking Industry, Latest news, Tri-County Economy  /  Comments Off on Union Bank to slash almost half of SBB&T work force

Union Bank will lay off almost 500 Santa Barbara Bank & Trust employees, or nearly half the bank’s work force, the San Francisco-based lender announced on the eve of its acquisition of Pacific Capital Bancorp. A spokesperson for Union Bank told the Business Times that 468 SBB&T positions will be eliminated over the next year. Read More →

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Banks lead region’s stocks at midyear

By   /  Friday, June 1st, 2012  /  Banking & Finance, Top Stories, Tri-County Public Companies  /  Comments Off on Banks lead region’s stocks at midyear

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This transaction pans out for Treasury, taxpayers

By   /  Friday, March 16th, 2012  /  Columns, Opinion  /  Comments Off on This transaction pans out for Treasury, taxpayers

Pacific Capital Bancorp’s controlling shareholders cured one of the biggest TARP headaches when they inked a $46-per-share sale to Union Bank’s parent company.

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Higher profits in hand, region’s banks look to expand

By   /  Friday, February 3rd, 2012  /  Banking & Finance, Banking Industry, Earnings, Latest news, Tri-County Public Companies  /  Comments Off on Higher profits in hand, region’s banks look to expand

Pacific Capital Bancorp, the largest banking company based in the Tri-Counties, turned a $70.5 million profit in 2011 after years of staggering losses. At the same time, First California Financial Group and Heritage Oaks Bancorp, the next two largest banks on the list, reported improved earnings for the year and bold plans to expand. Here’s Read More →

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Banks map out growth plans

By   /  Friday, August 5th, 2011  /  Banking & Finance, Banking Industry, Top Stories  /  Comments Off on Banks map out growth plans

Three recent earnings reports from area banks shed light on the tri-county economy as we approach the three-year anniversary of the crisis that nearly wrecked the nation’s financial system.

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Banks in no rush to repay TARP money

By   /  Monday, November 8th, 2010  /  Banking & Finance, Banking Industry, Top Stories  /  Comments Off on Banks in no rush to repay TARP money

Two years after the U.S. Treasury Department rolled out its Troubled Asset Relief Program, the federal rescue plan for banks, eight of the nine banks based in the Tri-Counties that took those funds have not yet repaid them. The one bank in the region that has repaid its TARP funds — Santa Barbara-based Pacific Capital Read More →

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