Business 7-2

Thursday, July 2, 2009

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Santa Barbara Bank & Trust owner Pacific Capital Bancorp denied it was about to be taken over by the feds-a rumor that may have begun with the bank’s 6/22 announcement that it was suspending dividend payments. The feds did close Pacific Metro Bank in Irvine on 6/26, however, leading some observers to note that the rumors may have been a case of mistaken identity.

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