Montecito Bank & Trust reports lower net income but solid growth

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Montecito Bank & Trust reports lower net income but solid growth

By Staff Report / Monday, August 12th, 2019 / Comments Off on Montecito Bank & Trust reports lower net income but solid growth

Santa Barbara-based Montecito Bank & Trust reported lower net income but steady growth in deposits and loans for the 12-month period ended June 30. Net income for the year was $5.8 million, down 55 percent year over year from $13 million. The bank said this was largely due to a onetime tax credit in 2018,…

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