December 31, 1996 |
The board of directors of Santa Barbara Bancorp, parent company of Santa Barbara Bank & Trust, has announced an increase in the quarterly dividend from 18 cents to 20 cents per share. The dividend will be payable Feb. 11 to shareholders of record on Jan. 21. The board increased the dividend in recognition of four successive quarters of record income, said Tom Thomas, president and chief executive officer of Santa Barbara Bank & Trust.
CALIFORNIA | LOCAL
December 7, 1999
Valencia Bank & Trust, Santa Clarita, said it has acquired First Valley National Bank in a stock-for-stock transaction valued at $6.1 million. Shareholders of First Valley will receive 0.816 shares of Valencia stock per share. First Valley's Lancaster and Palmdale branches will each be renamed First Valley, a Division of Valencia Bank & Trust.
July 22, 1997 |
Santa Barbara Bancorp, parent company of Santa Barbara Bank & Trust, had second-quarter earnings of $4.5 million compared with $3.77 million for the same quarter last year. Earnings were 57 cents per share, an increase of 19% over the 48 cents per share for the second quarter of 1996. The increase in earnings was due primarily to loan growth and additional fee income.
CALIFORNIA | LOCAL
April 25, 2000
Valencia Bank & Trust reported that net income for the first quarter ended March 31 rose to $521,000, a 30% increase above net income of $401,000 for the same period last year. Revenue increased 13% to $4 million compared with $3.57 million for the same period last year. Valencia Bank & Trust is an independent bank. It merged with First Valley National Bank in December.
August 18, 1999 |
Valencia Bank & Trust, the largest independent bank headquartered in northern Los Angeles County, plans to acquire Lancaster-based First Valley National Bank in a stock exchange agreement valued at about $6.1 million. The exchange rate will be set at the closing date of the deal. The merger, which is subject to approval by regulators and shareholders, would bring the total assets of the new bank to $185.3 million. In over-the-counter trading, Valencia shares rose $1.25 to close at $15.
November 23, 1993
First Valley National Bank, a Lancaster-based community bank with a second branch in Palmdale, reported a profit of $64,000 for the first nine months of this year, up from $4,000 in the same period a year earlier. First Valley was founded in late 1990 by a group of local business owners. The bank's assets totaled $30.4 million as of Sept. 30, up 29% from a year earlier, said First Valley President Wayne Rosenberger.