Earnings roundup: Profits return for most area banks
Banks based in the Tri-Counties reported mostly healthier third-quarter earnings, led by the largest lender in the region, which now has a full year of profits under its belt after a recapilization deal and ownership change last year. Here’s a closer look at how tri-county banks performed in the third quarter: Pacific Capital Bancorp [wikichart Read More →
Read More →PCBC posts $20.5M profit year after recap deal
Pacific Capital Bancorp, parent of Santa Barbara Bank & Trust, said Oct. 27 that it earned $20.5 million in the third quarter of 2011, marking its first full year of profits since a team of Texas bankers recapitalized it last year. In August 2010, Dallas-based Ford Financial Fund, led by veteran bankers Gerald Ford and Read More →
Read More →California Republic to buy Westlake bank branch
National Bank of California plans to sell its Westlake Village branch and about $16.2 million in deposits to California Republic Bank, the two firms said Oct. 24. Under the deal, Newport Beach-based California Republic Bank will assume all of the deposits and some of the assets of the branch at 875 S. Westlake Boulevard. The Read More →
Read More →Mission Community buys Santa Lucia
Mission Community Bank said Oct. 24 that it acquired Santa Lucia Bank, doubling the San Luis Obispo-based bank’s size and kicking off its effort to consolidate smaller lenders along the Central Coast. The previously announced deal closed Oct. 21, Mission said. Although it did not confirm the deal price in its announcement, Mission’s top executive Read More →
Read More →Ventura County Business Bank acquired
Oxnard-based Ventura County Business Bank has been acquired by Royal Business Bank for an undisclosed amount. Ventura County Business Bank’s two branches, in Oxnard and Westlake Village, officially opened as a subsidiary of Royal Business Bank on Monday, according to a news release, and will continue to operate under their original name until February. For Read More →
Read More →At the helm of Heritage Oaks: New CEO takes charge of region’s third-largest bank
Simone Lagomarsino, the new president and CEO of Paso Robles-based Heritage Oaks Bank, takes the reins of the region’s third-largest banking firm as it transitions out of the financial crisis.
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