Business 8-6

Pacific Capital Bancorp, the holding company for Santa Barbara Bank & Trust, announced second-quarter losses totaling $362.6 million, or $7.77 per share, compared to net losses of $5.9 million for the second quarter of 2008. President and CEO George Leis said the most significant loss was in the area of nonperforming or restructured loans for residential tract construction in such locales as Santa Maria, Oxnard, and Bakersfield. He also noted, however, that SBB&T’s capital base remains strong.

Login

Please note this login is to submit events or press releases. Use this page here to login for your Independent subscription

Not a member? Sign up here.