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Editorial: Banks turning a big corner

By   /  Monday, November 15th, 2010  /  Editorials, Opinion  /  Comments Off on Editorial: Banks turning a big corner

Third quarter results on the banking front hint at a long-awaited turnaround in the region’s financial services industry. Pacific Capital Bancorp., the region’s largest banking institution, posted a profit for the month of September after getting a $500 million infusion from the Ford Financial group out of Texas. The bank has essentially got a new Read More →

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Banks in no rush to repay TARP money

By   /  Monday, November 8th, 2010  /  Banking & Finance, Banking Industry, Top Stories  /  Comments Off on Banks in no rush to repay TARP money

Two years after the U.S. Treasury Department rolled out its Troubled Asset Relief Program, the federal rescue plan for banks, eight of the nine banks based in the Tri-Counties that took those funds have not yet repaid them. The one bank in the region that has repaid its TARP funds — Santa Barbara-based Pacific Capital Read More →

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Looking for the economy’s silver lining

By   /  Monday, November 1st, 2010  /  Columns, Opinion  /  Comments Off on Looking for the economy’s silver lining

With the economic forecast season about to get underway, two things are absolutely certain: 1. The experts are going to have strong opinions. 2. Most of the time they’re going to be wrong. So, with the knowledge that my amateur views are likely to be better than at least a few of the pros, let’s Read More →

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