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
- ↑ "Pacific Capital Bancorp Announces Preliminary Second Quarter Results; First Quarter 10-Q To Be Refiled Showing Increase in Net Income".
- ↑ "Pacific Capital Closes Sale of Tax Business". American Banker. January 15, 2010.
- ↑ "Dallas billionaire Gerald Ford strikes $500 million deal for troubled Pacific Capital bank". The Dallas Morning News. April 30, 2010.
- ↑ SBB&T will rebrand in $1.5 billion deal
- ↑ "Santa Barbara Bank & Trust employees on notice as Union Bank deal nears". Ventura County Star. 29 November 2012. Retrieved 1 December 2012.