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Bank News
January 26, 2010
Janet A. Garufis, president and chief executive officer of Montecito Bank & Trust said: "We are extremely pleased to report that despite the challenging economic issues in 2009, Montecito Bank & Trust earned $8.9 Million in net profit, a 46% increase over 2008. Our conservative management approach continues to serve us well through good times and bad. We did not take TARP money and we ended the year with a strong total risk-based capital ratio of 12.31%, well above the 10% regulatory minimum to be considered well-capitalized. Few local banks can match our 2009 performance.
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January 22, 2010
Montecito Bank & Trust is well-known for its local community support. So when the bank received reports about local Direct Relief International’s immediate Haitian emergency mobilization efforts, Montecito Bank & Trust associates mobilized too. Bank associates began asking what they could do to assist. Michael Towbes, chairman, and Janet A. Garufis, president and chief executive officer, quickly responded to associates with a challenge: the bank would match associate donations up to $5,000.
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November 23, 2009
On November 23, Montecito Bank & Trust awarded 150
nonprofit organizations from Santa Barbara and Ventura
Counties a total of $1,000,000 to help them continue their good work.
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October 19, 2009
Montecito Bank & Trust reported strong earnings of $7.7 million for the first nine months of 2009 as compared to $5.2 million for the first nine months of 2008. Janet Garufis, President and Chief Executive Officer of Montecito Bank & Trust, stated, "We are extremely pleased with our performance, especially given the continuing stress in the economic environment. We continue to benefit from our disciplined management practices and our long-term strategic approach to growth and profitability."
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July 20, 2009
Montecito Bank & Trust announced that it had a profitable second quarter, and year to date performance. Janet Garufis, President and Chief Executive Officer of Montecito Bank & Trust, stated, "We are extremely pleased with our performance, especially given the ongoing effects of the difficult economic environment."
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July 6, 2009
Montecito Bank & Trust announced that it will accept the California state issued warrants until further notice for existing customers of the bank. Janet Garufis, President and Chief Executive Officer of Montecito Bank & Trust, stated, "We are ready to assist our customers who will be receiving state warrants and hope this will be a short-term need."
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June 17, 2009
Santa Barbara, Calif. – Leadership Training for associates at Montecito Bank & Trust receives a high priority and profile. "We invest in leadership development for multiple levels of managers and other selected associates as it is vitally important that our prescribed leadership values and vocabulary be embraced by all associates and permanently infused into the bank's culture," stated Janet Garufis, president and chief executive officer. "Today, 34 of our associates are receiving our Leadership Challenge Training, but with a double surprise that will put huge smiles on the faces of some kids from Ventura County."
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May 8, 2009
Montecito Bank & Trust is offering free safe deposit boxes for 90 days to Santa Barbara residents displaced by the Jesusita Fire. This free safe deposit box offer is limited to Jesusita Fire evacuees, one per family. Safe deposit box quantities and sizes may vary and are available while supplies last. Our safe deposit boxes are located in fireproof vaults made of steel.
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April 27, 2009
Montecito Bank & Trust announced that it has received recognition as a "Premier Performing Bank" for the ninth consecutive year by the Findley Reports, an independent service which rates the financial performance of California banks. Janet Garufis, President and Chief Executive Officer of Montecito Bank & Trust, stated, "We were very pleased to again receive this recognition from the Findley Reports. We were the only Santa Barbara County based bank to receive it for our 2008 performance, and one of only two banks in the tri-counties to have received it, as 2008 has been a very challenging year for virtually all banks."
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March 16, 2009
Montecito Bank & Trust commemorates 34 years of providing financial services to Santa Barbara and Ventura County communities by awarding Anniversary Grants SM to 10 local nonprofit organizations. "Montecito Bank & Trust has a distinguished history of community support and involvement," stated Janet A. Garufis, president and chief executive officer. "Helping our community grow and prosper is the essence of who we are and an important part of our success. We appreciate the important contributions our local nonprofits make to the vitality of our communities, and we are pleased to be able to continue this tradition, especially at a time when economic realities make the need that much greater."
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March 16, 2009
As Montecito Bank & Trust celebrates its 34th anniversary, it's a good news story – a bright spot in these economic times – worth sharing. On March 17, 1975, Montecito Bank & Trust first opened its doors. From the very beginning, we have strived to make a real and sustainable difference. And although much has changed over the years, there is something important that hasn't: the strength of our commitment to our community, our customers and our associates.
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February 2, 2009
Janet A. Garufis, President and Chief Executive Officer of Montecito Bank & Trust said: "While a large majority of California banks were reporting losses for the year, we are pleased to report that Montecito Bank & Trust had a profitable year. While net income was down as compared to 2007, we still achieved net income of $6.1 million, which may be the best of any tri-county based bank. Loan demand remained strong, contributing to the 15.1% growth in our loan portfolio. Deposit growth was fueled by the community's demand for our competitive new Access Checking product, and total bank assets ended the year at over $800 million. Our year end risk-based capital ratio was a strong 10.5%."
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