Strong growth at Montecito Bank

Montecito Bank & Trust reported 2015 net income of $15.9 million, compared to $13.1 million in December 2014, a 21 percent increase.
Total gross loans grew 17 percent year-over-year, ending the year at $711 million.
Total assets grew $53 million during the 12-month period, closing at $1.2 billion, while total deposit growth was 4.5 percent, closing the year at $1.1 billion, up $48 million.
Total risk-based capital remained strong at 13 percent, above the 10 percent regulatory minimum requir...

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