Heritage Oaks to buy Mission Community for $56M
Paso Robles-based Heritage Oaks Bancorp is buying Mission Community Bank of San Luis Obispo for $56.4 million in cash and stock, the firms announced Oct. 21. Under the terms of the deal, Mission Community shareholders will get $8 million in cash and about 7.5 million shares of Heritage Oaks stock. The deal is valued at Read More →
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Banking on downtown SLO: Heritage Oaks buys former Union Bank building
The multimillion-dollar sale of a prime property in the heart of the Central Coast’s busiest downtown comes amid a flurry of building activity that had some developers bidding on the lot in hopes of developing the bank building’s adjacent parking lot, which faces the corner of Marsh and Osos streets. But the timing was too good for Heritage Oaks to pass the location up, said Simone Lagomarsino, the bank’s CEO.
Read More →Rival bankers place their bets on Ventura County rebound
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Read More →MB&T chief highlights role of community banks
Locally based banks that take deposits from and make loans to the community form the lifeblood of many regional economies, and yet these institutions have only recently secured a voice in the national debate on financial policy. That was the view from Janet Garufis, CEO and president of Santa Barbara-based Montecito Bank & Trust, in Read More →
Read More →Small-business groups can match banks, borrowers
Business is as much about who you know as what you know.
Long-time art gallery owner Sylvia White came to realize that as she struggled to get financing to purchase a building in downtown Ventura. She had purchased the gallery space with owner financing several years earlier. But now the five-year period on that high-interest loan was coming up, and White needed a bank to take over. She was turned down by lenders again and again.
Read More →Make It Work creditors demand $150K from defunct firm
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