Pacific Capital Bancorp

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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[edit]

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[edit]

External links[edit]