Montecito Bank & Trust reports big increase in net income

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Montecito Bank & Trust reports big increase in net income

By Staff Report / Thursday, July 26th, 2018 / Comments Off on Montecito Bank & Trust reports big increase in net income

Montecito Bank & Trust, the largest independent bank in the Tri-Counties, said net income grew $13 million, or 61 percent, in the first half of the year as deposits grew and tax adjustments helped its bottom line. The privately-held bank said deposits grew 4.1 percent to $1.2 billion, but the loan portfolio was flat at…

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