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Articles Tagged With ‘Banks’




Bank sues Rottman Group over Atascadero projects

Written on 31 Oct, 2011 in Daily Briefs, Featured | 52 comments

A Central Coast bank filed a lawsuit earlier this month against the Rottman Group for defaulting on a $6.2 million debt related to the Atascadero Annex project. [PacificCoastBusinessTimes] On Oct. 18, Montecito Bank & Trust filed a lawsuit in Santa... (Continue reading)

Mission Community Bancorp and Santa Lucia Bank merger finalized

Written on 24 Oct, 2011 in Featured, Uncovered SLO | 12 comments

Mission Community Bancorp and Santa Lucia Bank completed a previously announced merger on Oct. 21 saving the troubled Atascadero based Santa Lucia Bank from further regulatory actions, according to the Bancorp. In May, the California Department of Financial Institutions gave Santa... (Continue reading)

Consider municipal banks

Written on 21 Oct, 2011 in Featured, Opinion | 94 comments

OPINION By RICHARD SALZMAN Ten days into the Occupy Wall Street protests, I wrote letters to the editor of several papers complaining about the lack of mainstream media coverage. By the time that letter was printed, they finally got to... (Continue reading)

Heritage Oaks Bank loans ‘fed the monster’

Written on 23 Sep, 2011 in Featured, Uncovered SLO | 41 comments

An appellate court denied Heritage Oaks Bank's latest attempt to obtain assets of Estate Financial Principal Karen Guth, noting that the bank’s actions had harmed investors. Earlier this month, the Second District Court of Appeals upheld a San Luis Obispo County... (Continue reading)

Troubled Santa Lucia Bank makes buyout deal

Written on 27 Jun, 2011 in Daily Briefs | One comment

San Luis Obispo headquartered Mission Community Bancorp announced today that it plans to acquire Santa Lucia Bank, a deal that if approved soon could save the struggling Atascadero based bank from further regulatory action. Backed by a private equity firm, the... (Continue reading)

Santa Lucia Bank facing regulatory deadlines

Written on 19 May, 2011 in Uncovered SLO | 20 comments

Santa Lucia Bank has been ordered to increase its shareholder equity by $12 million in less than three months in a state enforcement action -- a challenge in the face of plummeting stock prices. The Atascadero based bank’s stock prices have... (Continue reading)

San Luis Obispo County foreclosures on the rise

Written on 29 Apr, 2011 in Daily Briefs, Featured | 11 comments

While the country continues to see improving foreclosure rates, the number of home foreclosures is still climbing in San Luis Obispo County, according to a report from Realty-Trac. [KCOY] In San Luis Obispo County almost 1,300 homes are in foreclosure... (Continue reading)

Federal action against Santa Lucia Bank

Written on 2 Mar, 2011 in Featured, Uncovered SLO | 17 comments

Santa Lucia Bank received an enforcement action by federal regulators telling its board of directors to improve oversight of the bank’s management staff and operations, according to a written agreement signed late last year. Bank officials agreed to correct all violations... (Continue reading)

Federal regulators seize San Luis Trust Bank

Written on 18 Feb, 2011 in Uncovered SLO | 26 comments

Federal regulators shut down San Luis Trust Bank (SLTB) in San Luis Obispo Friday because the bank was critically undercapitalized, according to the Federal Deposit Insurance Corp. (FDIC). At 5:55p.m. Friday, just five minutes before the bank was scheduled to close... (Continue reading)

San Luis Trust Bank facing threat of seizure

Written on 14 Feb, 2011 in Uncovered SLO | 20 comments

San Luis Trust Bank (SLTB) may soon be added to the FDIC’s list of failed banks unless it pulls itself out of a “critically undercapitalized” state, according to federal regulators. The bank’s regulator, the Federal Office of Thrift Supervision (OTS), says... (Continue reading)