Community Bancorp of Santa Maria reports rising revenue and expenses
Community Bancorp of Santa Maria saw another quarter of continued growth, buoyed by federal Paycheck Protection Program loans, even as net income fell. The bank’s total income rose 4.3%, but net income fell by more than 19%, going from $2.7 million in December 2019 to $2.2 million in the same month of 2020. Net loans Read More →
Read More →Next round of PPP loans rolling out to region’s banks
More than 1 million Paycheck Protection Program borrowers have already had their loans forgiven, to the sum of more than $100 billion, and the window to borrow more opens again soon. On Jan. 15, the U.S. Small Business Administration is reopening the PPP portal to financial institutions with less than $1 billion in assets. For Read More →
Read More →Second round of PPP loans headed to Tri-Counties
Another round of the federal Paycheck Protection Program opened Jan. 11, and the region’s bankers expect the money to help a lot of small businesses that have been struggling through the pandemic and pandemic-related restrictions. “We understand the urgency and the difficulty the business community is experiencing,” said George Leis, president of Montecito Bank & Read More →
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Region’s bankers see a bumpy road to recovery in 2021
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Read More →Montecito Bank & Trust hands out nearly $1.2M in charitable grants
Montecito Bank & Trust upped the ante for the 2020 round of its corporate philanthropy, giving away $1.175 million at its 18th annual Community Dividends program on Nov. 23. The program was presented virtually on Zoom, and around 350 people participated from 194 organizations in Santa Barbara and Ventura counties. The program was the creation Read More →
Read More →PennyMac notches another strong earnings report
PennyMac Financial Services more than tripled its net income over the course of a year when it reported $535.2 million, or $7.03 per share, in its third quarter financial report, up from $121.5 million, or $1.51 per share, in the third quarter of 2019. The Westlake Village-based mortgage lender built on steam from a record Read More →
Read More →Mission Bancorp reports growth in earnings, revenue, deposits
Mission Bancorp, which has business banking offices in Ventura and San Luis Obispo, set a new all-time record for net income when it announced its third quarter financial results. The bank reported a net income of $4.2 million, or $2.07 per basic common share, compared to the net income of $3.7 million, or $1.85 per Read More →
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