Pacific Capital Bancorp

Pacific Capital Bancorp
Industry Banking
Headquarters California

Pacific Capital Bancorp was an American regional bank that operated 49 branches between Los Angeles, California and San Jose, California under the brand name Santa Barbara Bank & Trust. It was acquired by Union Bank in 2012.

The bank also owned Morton Capital Management and RE Wacker & Associates and was headquartered in Santa Barbara, California prior to its acquisition.

History

On July 17, 2002, Pacific Capital announced to refile its quarterly report on Form 10-Q for the first quarter of 2002 to reflect approximately $850,000 of additional net income.[1]

In financial difficulties after the recession, the tax division was sold to Santa Barbara Tax Products Group and Gerald J. Ford bought a 91% stake in the company in 2010.[2][3] In 2012, Union Bank announced its acquisition of Pacific Capital Bancorp for $1.5 billion[4] and employees were placed on notice on November 30.[5]

References


This article is issued from Wikipedia - version of the 8/21/2015. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.