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Montecito Bank & Trust reports big quarter due to PPP loans

By   /  Monday, August 10th, 2020  /  Banking & Finance, Banking Industry, Earnings, Latest news, South Coast, Tri-County Economy, Tri-County Public Companies  /  Comments Off on Montecito Bank & Trust reports big quarter due to PPP loans

Montecito Bank & Trust’s total net income grew more than 15 percent in the second quarter, buoyed by increases in total assets, loan growth and deposit growth, the bank announced Aug. 10. Many of the bank’s key measures grew by leaps and bounds between June 30, 2019 and June 30, 2020. Montecito Bank & Trust’s Read More →

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Latest

Several tri-county companies got at least $5M in PPP funding

By   /  Tuesday, July 7th, 2020  /  Banking & Finance, Banking Industry, Latest news, Small Business, Tri-County Economy  /  Comments Off on Several tri-county companies got at least $5M in PPP funding

At least a dozen companies in the Tri-Counties received more than $5 million each in Paycheck Protection Program funding since the start of the COVID-19 pandemic, according to data released July 6 by the Trump administration. The companies’ names were listed because of the size of the loans they took out. All companies who took Read More →

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Latest

Our view: Union Bank puts money into social equity effort

By   /  Friday, June 26th, 2020  /  Banking & Finance, Banking Industry, East Ventura County, Latest news, Op/Eds, Opinion, West Ventura County  /  Comments Off on Our view: Union Bank puts money into social equity effort

There is no doubt that the killing of George Floyd and subsequent events have prompted the biggest discussion in decades about social equity and justice in America. One of the biggest debates in Corporate America today is how far the current discussion will lead. And one of the biggest problems in getting some perspective on Read More →

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Latest

Tri-county medical providers get $114M in federal funding

By   /  Friday, May 22nd, 2020  /  Central Coast Health Watch, Latest news  /  Comments Off on Tri-county medical providers get $114M in federal funding

Medical providers in the Tri-Counties have received almost $114.5 million in funding through the CARES Act and the Paycheck Protection Program and Health Care Enhancement Act. More than a thousand medical providers on the Central Coast have received funding from the Health Resources and Human Services Administration because of their roles in fighting COVID-19. Of Read More →

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Latest

Garufis: Bankers busy with second round of PPP

By   /  Friday, May 1st, 2020  /  Banking & Finance, Banking Industry, Latest news, Op/Eds, Opinion, Small Business  /  Comments Off on Garufis: Bankers busy with second round of PPP

By Janet Garufis It’s after 8 p.m. on April 27, the day the second tranche of PPP funding was made available by the Small Business Administration, and I’ve just completed our PPP update call with the dedicated group of Montecito Bank & Trust professionals who are responsible for making PPP a reality for hundreds of Read More →

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Latest

PPP problems persist as tri-county banks try to make more loans

By   /  Friday, May 1st, 2020  /  Banking & Finance, Banking Industry, Latest news, Law, Small Business  /  Comments Off on PPP problems persist as tri-county banks try to make more loans

The Payroll Protection Program’s second round of funding started on April 27, but some of the issues from the first round are vexing Central Coast bankers and borrowers. Among technical problems, the Small Business Administration’s website has crashed, limiting the number of applications banks can process at one time. Additionally, financial regulations meant to guard Read More →

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Banks ramp up loans to tri-county small businesses

By   /  Friday, April 24th, 2020  /  Banking & Finance, Banking Industry, Latest news, Small Business, Tri-County Economy  /  Comments Off on Banks ramp up loans to tri-county small businesses

It’s not too late for tri-county small businesses to get financial aid from the government to help offset COVID-19 losses. President Donald Trump signed a $484 billion relief package bill April 24 containing the awaited second wave of Payroll Protection Program funding. The program originally had $349 billion for small businesses but ran out of Read More →

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