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Montecito Bank & Trust
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Teledyne increases stake in Optech

By   /  Tuesday, April 3rd, 2012  /  Banking & Finance, Latest news, Technology, Tri-County Public Companies  /  Comments Off on Teledyne increases stake in Optech

Military-industrial conglomerate Teledyne Technologies said April 3 that its Dalsa subsidiary has increased its ownership stake in the parent company of Optech from 19 percent to 51 percent. Terms of the deal were not disclosed. Optech is a Canadian maker of laser-based survey and digital imaging equipment. Thousand Oaks-based Teledyne has been moving away from Read More →

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Amgen, AstraZeneca strike drug development deal

By   /  Monday, April 2nd, 2012  /  Banking & Finance, Latest news, Technology, Tri-County Public Companies  /  Comments Off on Amgen, AstraZeneca strike drug development deal

Amgen has entered a development deal with London-based AstraZeneca to jointly commercialize five anti-inflammation drugs. Under the terms of the agreement announced April 2, AstraZeneca will pay a one-time $50 million payment to Amgen and will be responsible for helping the Thousand Oaks-based biotech giant commercialize its inflammation drug pipeline. The firms said in a Read More →

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Ojai Community Bank out from regulatory order

By   /  Tuesday, March 27th, 2012  /  Banking & Finance, Banking Industry, Latest news  /  Comments Off on Ojai Community Bank out from regulatory order

Ojai Community Bank is out from under a regulatory consent order imposed on it last year and reported a profitable 2011, swinging back from a loss the year earlier. The small Ojai-based bank said March 27 that regulators had lifted a Federal Deposit Insurance Corp. order placed on it on March 31, 2011. The announcement Read More →

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Union deal rattles region’s banks

By   /  Friday, March 16th, 2012  /  Banking & Finance, Banking Industry, Top Stories  /  1 Comment

  EDITOR’S NOTE: This is one part in a three-part package on Union Bank’s acquisition of Pacific Capital Bancorp, the parent of Santa Barbara Bank & Trust. Read the other two stories here: “End of an era for SBB&T brand.” A look back at the 52-year history of a company that enjoyed exceptional customer and Read More →

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Sale of SBB&T means end of an era

By   /  Friday, March 16th, 2012  /  Banking & Finance, Banking Industry, Top Stories  /  Comments Off on Sale of SBB&T means end of an era

  EDITOR’S NOTE: This is one part in a three-part package on Union Bank’s acquisition of Pacific Capital Bancorp, the parent of Santa Barbara Bank & Trust. Read the other two stories here: “Union deal rattles region’s banks.” A look at the key players in the banking landscape as the largest independent bank in the Read More →

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Recession, mergers and the future of finance

By   /  Friday, March 16th, 2012  /  Banking & Finance, Banking Industry, Top Stories, Tri-County Public Companies  /  Comments Off on Recession, mergers and the future of finance

  EDITOR’S NOTE: This is one part in a three-part package on Union Bank’s acquisition of Pacific Capital Bancorp, the parent of Santa Barbara Bank & Trust. Read the other two stories here: “Union deal rattles region’s banks.” A look at the key players in the banking landscape as the largest independent bank in the Read More →

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Latest

Dole earnings beat outlook

By   /  Thursday, March 15th, 2012  /  Agribusiness, Banking & Finance, Earnings, Latest news, Tri-County Public Companies  /  Comments Off on Dole earnings beat outlook

Fruit producer Dole Food Co. reported an adjusted loss of $2 million, or 2 cents per share, from continuing operations, beating the 12-cent loss predicted by analysts on average. The recent loss compares to a $31 million, or 35 cent per-share, loss a year earlier. CEO David DeLorenzo said strong sales and a cost-reduction program Read More →

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