Montecito Bank & Trust reports gains in 2019 but net income fell

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Montecito Bank & Trust reports gains in 2019 but net income fell

By Staff Report / Monday, February 10th, 2020 / Comments Off on Montecito Bank & Trust reports gains in 2019 but net income fell

Santa Barbara-based Montecito Bank & Trust reported Feb. 10 that it had solid gains in assets, deposits and loans in 2019 but saw its 12-month net income decline to $14.6 million, 19.5 percent lower than the year before. The bank said the loss was related to a one-time change in an employee benefit program. Total…

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