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Amid job cuts, Union Bank rolls out plan

By   /  Friday, December 7th, 2012  /  Banking & Finance, Banking Industry, Top Stories, Tri-County Economy, Tri-County Public Companies  /  Comments Off on Amid job cuts, Union Bank rolls out plan

Union Bank sent shockwaves through the region with the announcement that it will cut almost 500 Santa Barbara Bank & Trust jobs as it completes a $1.5 billion acquisition. But the rollout of the San Francisco-based lender’s vastly increased footprint in the region also creates new opportunities for middle-market companies to get debt financing, experts Read More →

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DeLorenzo leaves Dole for Itochu

By   /  Thursday, December 6th, 2012  /  Agribusiness, Banking & Finance, Latest news, Tri-County Public Companies  /  Comments Off on DeLorenzo leaves Dole for Itochu

Dole Food Co. President and CEO David DeLorenzo is leaving the company to lead Itochu Corp., the Japanese firm that’s in the process of buying Dole’s packaged foods unit for $1.7 billion. In another step toward closing the Itochu deal by the end of the year, shareholders of the Westlake Village-based food company approved it Read More →

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Vitesse tees up stock offering

By   /  Thursday, December 6th, 2012  /  Banking & Finance, Tri-County Public Companies  /  Comments Off on Vitesse tees up stock offering

Camarillo-based Vitesse Semiconductor is planning a stock offering despite years of losses and a shareholder base that’s underwater in terms of book value. Vitesse said Dec. 6 that it plans an offering that will be underwritten by Needham & Company as the sole bookrunning manager of the offering and Craig-Hallum Capital Group as co-manager. The Read More →

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Union Bank to slash almost half of SBB&T work force

By   /  Friday, November 30th, 2012  /  Banking & Finance, Banking Industry, Latest news, Tri-County Economy  /  Comments Off on Union Bank to slash almost half of SBB&T work force

Union Bank will lay off almost 500 Santa Barbara Bank & Trust employees, or nearly half the bank’s work force, the San Francisco-based lender announced on the eve of its acquisition of Pacific Capital Bancorp. A spokesperson for Union Bank told the Business Times that 468 SBB&T positions will be eliminated over the next year. Read More →

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RingRevenue dials up $3.25M in funding

By   /  Wednesday, November 21st, 2012  /  Banking & Finance, Latest news, Technology  /  Comments Off on RingRevenue dials up $3.25M in funding

Santa Barbara-based RingRevenue has raised $3.25 million in fresh venture capital in a round led by investors GRP Partners and Rincon Venture Partners, bringing its total funding to date to more than $10 million. The company, founded in 2007, initially built a technology platform to let digital advertisers track sales calls the way they track Read More →

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Amgen aims to put cholesterol drug on market

By   /  Monday, November 19th, 2012  /  Banking & Finance, Technology, Top Stories, Tri-County Public Companies  /  Comments Off on Amgen aims to put cholesterol drug on market

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$430M deal rolls Row 44 onto Nasdaq

By   /  Friday, November 16th, 2012  /  Banking & Finance, Technology, Top Stories  /  Comments Off on $430M deal rolls Row 44 onto Nasdaq

This article is only available to Business Times subscribers Subscribers: LOG IN or REGISTER for complete digital access. Not a Subscriber? SUBSCRIBE for full access to our weekly newspaper, online edition and Book of Lists. Check the STATUS of your Subscription Account.

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