S.B. Bank & Trust's Rocky Year

Barney

I am very disaapointed in the article on Santa Barbara Bank & Trust. In fact, I find that it is a little irresponsible. Yes, it has been a hard year for the bank. It has been a hard year for all Banks. Unfortunately, the negative and alarmist rumors have really done damage.

Responsible reporting would also talk about the fact that when we say well capitalized we are capitalize better then many of our peers. Also, In the 3rd quarter we saw a $1 million increase in pre-tax income reverses the prior quarters $4.6 million loss. The overall loss this quarter was less then this quarter last year. This indicates that aside from the stock price we are improving.

I would also like to point out that SBBT has been very involved in the community ( the second largest contributor to the United Way). Many of our officer serve on various Boards of Non-Profits.

We may have laid off just under 300 employees but we still employee close to 1000. The unfounded heresay about who is buying what and the potential for take over does nothing but upset and worry those who would most be effected. Until the Shareholders are voting there is no sale. We are exploring all possibilites but it ain't over till the shareholders sing.

Perhaps, next time you could practice unbiased reporting rather then repeating rumors. Who knows if people aren't scared out of their minds stock prices could go up.

Oh, did I mention the the increase in deposits over last quarter. Apparently, there are people that still believe in this 50 yr old institution that gave them their first car or home loan.

Sincerely
Urbanholly AKA Tired of Rumors

We are in very scary times. SBB&T has a long road ahead for itself.

When a stock drops from a 52-week high of 17.47 to a low of (at this moment) 89 cents, don't blame the messengers, blame the managers.

PCBC has gotten a bit cocky and top heavy over the years. It is truly a shame if they do crash given the rich history on SBB&T in out area.

What would Ralph Raddue, do?
There are thieves, there are scoundrels, and then there are bankers. Ron, call your office!

That's Rod, not Ron.

.75 cents a share!!!!!!!!!!!!!!!!

Closed today at 68 cents. If you wanted to take the risk, you could buy the whole company for a bag of peanuts and probably have a few kernels left over to toss to the elephants. Actually, the elephants would be a better buy--they leave less of a mess.

SBB&T will survive one way or another. It's "BRAND" is to strong and well known in our area. I think it is interesting all the bashing going on when know one is pointing out all the good SBB&T has done in our area for almost 50 years.

The bottom line is the price of the stock and that's bad news. The significant fall in stock value has cost:
1) hundreds of jobs (300 layoffs were this year only - layoffs actually started in 2007-2008),
2) financial hardship to long-term stockholders, and
3) loss of retirement savings to existing employees who are well-vested in the company's Employee Stock Option Program.

The battle of the North vs the South continues as Mr Clay Larson continues to lord over the First National, South Valley and San Benito branches and George Leis pretends to be the CEO of Pacific Capital Bancorp.

How many local banks actually took the TARP money? SBBT was one of very few. Deposits may have increased but unless the bank is making profitable loans on the margins between deposit interest & loan interest, it isn't making money,

Being capitalized "better than our peers" is not sufficient if the bank is not capitalized per it's agreement with the Federal Reserve. And a lawsuit is a lawsuit until it is resolved.

I agree that it would be sad to see this institution meet its demise but I also know that it has not met it's value statements of shareholder satisfaction or employee satisfaction.

ps - how many employees or shareholders know that the bank operates a trust office in Treasure Island, FL????

they have gone into markets they had no business to be in.....hey the stock is up to .80 cents!!!!!