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PRESS RELEASE / ANNOUNCEMENTS Saturday, July 30, 2011

Montecito Bank & Trust Reports Profitability and Growth

Janet A. Garufis, President and Chief Executive Officer of Montecito Bank & Trust, said: "We are pleased to report that the bank ended the second quarter with $4.4 million in net profit, up 1% from a year ago. We ended the quarter with a strong total risk-based capital ratio of 12.49%, well above the 10% regulatory minimum to be considered well-capitalized.”


Total demand deposits have grown an impressive 20% year over year, and total deposits were up 3% from $825.7 million to $851.7 million. Assets grew from $960.8 million to $984.0 million, a 2% growth from a year ago. Soft loan demand continues to impact our gross loans, which were $524.7 million at quarter end, down from $554.1 million a year ago. The bank’s solid financial performance and extremely strong liquidity position, ensures that we continue to be well positioned to make loans to businesses and consumers in all the markets we serve.

Montecito Bank & Trust, an S Corporation, is a locally owned community bank founded in 1975 with branch offices located in Santa Barbara, Goleta, Solvang, Montecito, Carpinteria, Ventura, and Westlake Village. The bank offers a variety of competitive deposit and lending solutions for businesses and consumers, including business loans and lines of credit; commercial real estate finance; SBA loans; consumer loans; credit cards; merchant services; and online services, including mobile banking and cash management. Its Wealth Management Division, with locations in Montecito, Solvang and Ventura, provides full investment management as well as trust services for all branch office markets.

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