After seven years, the financial crisis quietly ends for area banks
“Even the pessimists were thinking three years,” Community West CEO Marty Plourd told me. “No one expected the low-interest-rate environment to last this long,”
Heritage Oaks’ Q1 profits jump as bank prepares to pay off TARP
Heritage Oaks Bancorp reported a $3.7 million first-quarter profit, up 131 percent over a year earlier, and said it is gearing up to repay $25 million in bailout funds it took at the height of the recession. The repayment comes with the announcement that two sets of banking regulators have lifted an order over the Read More →
Community West lost $591K in Q2
Shares of Community West Bancshares soared 7.7 percent even as the Goleta-based bank reported a $591,000 second-quarter loss. The parent company of Community West Bank’s latest loss swings away from an $819,000 profit in the first quarter. Including $268,000 in dividends and accretion on preferred stock, Community West’s second-quarter net loss applicable to common stockholders Read More →
Ojai Community Bank reports record Q1 earnings
Two months after Ojai Community Bank bucked a federal regulatory order, the bank reported first-quarter profits of $250,000, almost three times more than its earnings a year ago. Ojai Community, which also owns Santa Paula Community Bank, said the quarter’s earnings are a record. Total deposits have climbed 2 percent since the beginning of the Read More →
