This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Pacific Capital Bancorp Reports Second Quarter 2011 Net Income Of $21.0 Million; Completes Brand Consolidation Initiative

Pacific Capital Bancorp (Nasdaq:PCBC), a community bank holding company and parent of Santa Barbara Bank & Trust, N.A., reported net income of $21.0 million, or $0.64 per diluted share, for the three months ended June 30, 2011, compared with $16.8 million, or $0.51 per diluted share, for the three months ended March 31, 2011. This brings total net income to $63.5 million, or $2.00 per diluted share, since the closing of the $500 million investment from a wholly-owned subsidiary of Ford Financial Fund, L.P. on August 31, 2010.

Second Quarter Highlights
  • Achieved a return on average assets of 1.43% and a return on equity of 12.27% for the second quarter of 2011, compared with 1.14% and 10.39%, respectively, for the first quarter of 2011;
  • Improved net interest margins to 4.42% for the second quarter of 2011, compared with 3.99% for the first quarter of 2011;
  • Grew regulatory capital ratios to 11.6% and 18.3% for Tier 1 Leverage and Total Risk-Based Capital ratios, respectively; and,
  • Completed initiative to consolidate all operations under the single brand name of Santa Barbara Bank & Trust; changed banking subsidiary name to Santa Barbara Bank & Trust, N.A. (from Pacific Capital Bank, N.A.)

“Pacific Capital Bancorp has delivered its third consecutive quarter of strong performance since our successful recapitalization last August,” said Carl B. Webb, Chief Executive Officer. “We are very pleased with the progress we have made towards achieving our strategic goals in just ten months. Our capital levels, which have continued to grow even stronger each quarter, significantly exceed the regulatory levels to be considered well capitalized. This has allowed us to undertake the important investments in the Bank’s infrastructure that will ensure a quality banking experience for our customers, provide scalability for future growth, and allow us to operate at a lower overall cost in the future.

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.64 -0.11%
FB $118.57 0.84%
GOOG $698.21 0.75%
TSLA $241.80 0.43%
YHOO $36.53 -0.19%


Chart of I:DJI
DOW 17,891.16 +117.52 0.66%
S&P 500 2,081.43 +16.13 0.78%
NASDAQ 4,817.5940 +42.2360 0.88%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs