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Articles Tagged With ‘Banks’




American Perspective Bank president resigns

Written on 3 Feb, 2011 in Daily Briefs, Featured | No comments

American Perspective Bank announced the resignation of Thomas J. Beene, the bank’s president and chief executive officer, who decided to leave the bank to pursue other professional opportunities, according to a press release. Mr. Beene began working for the Bank... (Continue reading)

Santa Lucia Bancorp facing regulatory action

Written on 14 Sep, 2010 in Uncovered SLO | 12 comments

Santa Lucia Bancorp announced it expects federal regulators to file an enforcement order against the bank because of issues discovered during a recent examination by the Federal Reserve Bank of San Francisco (FRB). “In light of the current challenging operating environment,... (Continue reading)

Following the corporate pied piper

Written on 12 Aug, 2010 in Opinion | 8 comments

OPINION BY MARILYN ARMSTRONG Prior to the 1970’s, America was primarily a cash based system.  Most families had savings accounts, and adhered to a program of placing 10 percent of their earnings into their savings. Even large ticket items, such... (Continue reading)

Billionaire banker buys Pacific Capital Bancorp

Written on 29 Apr, 2010 in Daily Briefs | 6 comments

Billionaire banker Gerald Ford has agreed to buy a 91 percent interest in Pacific Capital Bancorp, the parent company of First Bank of San Luis Obispo and Santa Barbara Bank and Trust, for $500 million. [Rueters] The company plans to... (Continue reading)

Federal action against Coast National Bank

Written on 29 Apr, 2010 in Uncovered SLO | 6 comments

The Federal Reserve Bank on Thursday announced a regulatory action taken against Coast Bancorp, in a move to maintain financial soundness at the bank, according to the federal order issued in San Francisco. Under a written agreement, the parent company of... (Continue reading)

A bank by any other name

Written on 25 Mar, 2010 in Daily Briefs | 2 comments

American Principle Bank in San Luis Obispo is planning to change its name to American Perspective Bank in order to avoid litigation by global giant Principal Financial Group. Currently, American Principle Bank officials are waiting for shareholders, expected to meet... (Continue reading)

Federal action against Heritage Oaks Bank

Written on 9 Mar, 2010 in Uncovered SLO | 26 comments

Federal regulators have banned the parent company of Paso Robles-based Heritage Oaks Bank from paying dividends or incurring debt as part of a written agreement the company and the Federal Reserve Bank of San Francisco signed on Monday. As part of... (Continue reading)

Banker accused of stealing from children

Written on 22 Nov, 2009 in Daily Briefs | One comment

A 40-year-old Heritage Oaks Bank employee admitted to stealing $24,400 from a youth soccer account and transferring the funds to a personal account. [Tribune] The youth soccer group treasurer and bank employee, Douglas Smith, admitted the theft in an e-mail... (Continue reading)

Fraud lawsuit filed against Heritage Oaks Bank and Stewart Title

Written on 15 Jun, 2009 in Uncovered SLO | One comment

By KAREN VELIE Investors have filed a lawsuit alleging Stewart Title and Heritage Oaks Bank (HOB) aided and abetted and/or conspired with Hurst Financial Inc. (HFI) in defrauding hundreds of seniors through illegal investment schemes. The suit filed by more than 300... (Continue reading)

Heritage Oaks Bank versus the investors

Written on 4 Apr, 2009 in Uncovered SLO | 2 comments

By KAREN VELIE and DANIEL BLACKBURN Heritage Oaks Bank is battling with Estate Financial Inc. and Hurst Financial investors over first place in the quest for financial compensation. Attorneys for the bank are chasing first position in the pursuit for assets of... (Continue reading)