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Montecito Bank & Trust
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Salem Media Group back in the black for first quarter

By   /  Thursday, May 6th, 2021  /  Banking & Finance, Earnings, Latest news, Tri-County Economy, Tri-County Public Companies, West Ventura County  /  Comments Off on Salem Media Group back in the black for first quarter

Salem Media Group announced growing revenue, declining costs and a reversal of last year’s losses when it released its first quarter financial earnings on May 6. The Irving, Texas-based conservative media company, which retains significant operations at its former headquarters in Camarillo, had $300,000 in net income for the quarter, or 1 cent per diluted Read More →

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PennyMac earnings up as mortgage boom continues

By   /  Thursday, May 6th, 2021  /  Banking & Finance, Banking Industry, Earnings, East Ventura County, Latest news, Real Estate, Tri-County Economy, Tri-County Public Companies  /  Comments Off on PennyMac earnings up as mortgage boom continues

PennyMac Financial Services reported a higher net income and revenue in the first quarter, as well as a cash dividend, when it announced its latest earnings on May 6. The Westlake Village-based mortgage lender and loan servicer recorded net income of $376.9 million, or $5.15 per share, on revenue of $944.7 million. For the first Read More →

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Montecito Bank & Trust tops $2B in assets

By   /  Thursday, May 6th, 2021  /  Banking & Finance, Banking Industry, Latest news, South Coast, Tri-County Economy  /  Comments Off on Montecito Bank & Trust tops $2B in assets

Montecito Bank & Trust’s assets grew by almost half a billion dollars in the past year, with strong deposit and loan growth, the bank said in its May 6 first-quarter earnings release. The Santa Barbara-based bank is the largest financial institution based in the tri-county region. Its assets topped $2 billion at the end of Read More →

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Inogen reports big drop in losses in Q1

By   /  Tuesday, May 4th, 2021  /  Banking & Finance, Earnings, Latest news, South Coast, Tri-County Economy, Tri-County Public Companies  /  Comments Off on Inogen reports big drop in losses in Q1

Inogen, a medical device company specializing in portable oxygen concentrators, saw a slight dip in revenue in the first quarter of 2021, but shrinking losses and continued growth in its new focus area of device rentals. The Goleta company reported its first quarter earnings after the markets closed May 4, and highlighted revenue for the Read More →

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Arcutis shares down after earnings report

By   /  Tuesday, May 4th, 2021  /  Banking & Finance, Biotech, Earnings, East Ventura County, Latest news, Tri-County Economy, Tri-County Public Companies  /  Comments Off on Arcutis shares down after earnings report

Westlake Village-based Arcutis Biotherapeutics suffered a net loss in the first quarter of fiscal year 2021, but continues to hold a strong financial position with $446.5 million in assets. According to earnings released May 4, Arcutis lost $36 million in the first quarter, or 76 cents per share, compared to a loss of $28 million, Read More →

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Atara beats estimates with loss in Q1

By   /  Tuesday, May 4th, 2021  /  Banking & Finance, Biotech, Earnings, East Ventura County, Latest news, Tri-County Economy, Tri-County Public Companies  /  Comments Off on Atara beats estimates with loss in Q1

Atara Biotherapeutics had a net loss of $78.2 million in the first quarter of fiscal year 2021, slightly higher compared than same quarter a year earlier, when the company had a loss of $73.5 million. Despite this, Atara, an immunotherapy biotech company based in South San Francisco with some of its major operations in Thousand Read More →

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Community West earnings nearly double in first quarter

By   /  Monday, May 3rd, 2021  /  Banking & Finance, Banking Industry, Earnings, Latest news, South Coast, Tri-County Economy, Tri-County Public Companies  /  Comments Off on Community West earnings nearly double in first quarter

Community West Bancshares saw its net income rise by almost 90% year-over-year as it decreased its provision for loan losses and increases its dividends. The Goleta-based parent company of Community West Bank released its first quarter earnings on May 3, including $3 million in net income for the quarter, or 35 cents per diluted share. Read More →

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