Montecito Bank & Trust and The Towbes Group today announced that Michael Towbes, chairman, received the Ernst & Young Entrepreneur Of The Year® 2010 Award in the Financial Services category in the Greater Los Angeles Area. According to Ernst & Young LLP, the award recognizes outstanding entrepreneurs who are building and leading dynamic, growing businesses. Towbes was selected by an independent panel of judges, and the award was presented at a gala event at the Beverly Hilton on June 22, 2010.
"To be selected as the Financial Services award recipient for Greater Los Angeles was very exciting. It is an award I share with the dedicated people I work with each and every day. Our successes at Montecito Bank & Trust and The Towbes Group are what enable us to give back to our communities in such a meaningful way. Given the size of the Greater Los Angeles area, the fact that a Santa Barbara company was chosen was tremendously gratifying. I sincerely thank Ernst & Young for this recognition," said Michael Towbes.
The Ernst & Young Entrepreneur Of The Year awards celebrate their 24th anniversary this year. The program honors entrepreneurs who have demonstrated exceptionality in such areas as innovation, financial performance and personal commitment to their businesses and communities.
As a Greater Los Angeles Area award winner, Michael Towbes is now eligible for consideration for the Ernst & Young LLP Entrepreneur Of The Year 2010 national program. Award winners in several national categories, as well as the overall national Ernst & Young Entrepreneur Of The Year award winner, will be announced at the annual awards gala in Palm Springs, California on November 13, 2010. The awards are the culminating event of the Ernst & Young Strategic Growth Forum, the nation’s most prestigious gathering of high-growth, market-leading companies.
Sponsors
Founded and produced by Ernst & Young LLP, the Entrepreneur Of The Year awards are pleased to have the Ewing Marion Kauffman Foundation and SAP America as national sponsors. In the Greater Los Angeles Area, local sponsors include Marsh, Scherzer International, Union Bank, Bowne and Montgomery & Co.
The Towbes Group, Inc.
The Towbes Group is a Santa Barbara based development, construction and asset management company with over fifty years of professional experience in all aspects of real estate development. The company has developed over 6,000 residential units and 1.4 million square feet of commercial properties. Almost all of this development has been in the tri-county area, and a majority has been in Santa Barbara County. The company currently manages over 2.0 million square feet of commercial space, including offices, light industrial and retail uses, and approximately 2,100 residential units.
Montecito Bank & Trust
Montecito Bank & Trust, an S Corporation community bank, with assets of over $950 million, is owned by Michael Towbes. As the bank celebrates its 35th anniversary, it continues to demonstrate strong earnings, is well capitalized, and is actively making loans in the communities it serves. Montecito Bank & Trust has been designated a Super Premier or Premier Performing Bank for the last ten years by The Findley Reports, an independent service which rates the financial performance of California banks. It provides ongoing support of the community through unique giving programs like Anniversary GrantsSM and Community Dividends®, which annually donates $1 million to more than 100 local nonprofits.
About Ernst & Young’s Entrepreneur Of The Year® Awards Program
Ernst & Young’s Entrepreneur Of The Year® is the world’s most prestigious business award for entrepreneurs. The award makes a difference through the unique way it encourages entrepreneurial activity among those with potential and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global award of its kind, Ernst & Young Entrepreneur Of The Year® celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 135 cities in 50 countries. Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young LLP is a client-serving member firm of Ernst & Young Global Limited located in the U.S.
For more information, please contact Carolyn C. Tulloh, Director of Marketing at (805) 564-0252 or ctulloh@montecito.com