Thursday, July 30, 2009

Central Coast Bank Bailout Picture

Since we looked (last January) at the California and central coast banks on the receiving end of taxpayer bailout money, the list has expanded to 75 institutions.

Is your bank on this list? You might like to "work with them" on a new car loan or home down payment, knowing they have the money to lend.

They are lending, aren't they?

Atascadero: Santa Lucia Bancorp, $4 million
Goleta: Community West Bancshares, $15.6 million
Ojai: Ojai Community Bank, $2.1 million
Paso Robles: Heritage Oaks Bancorp, $21 million
San Luis Obispo: Mission Community Bancorp, $5.1 million
Santa Barbara: Pacific Capital Bancorp, $180.6 million
Simi Valley: Bank of America, NA, Mortgage servicer, $804.4 million
Simi Valley: Countrywide Home Loan Servicing, $5.2
Thousand Oaks: California Oaks State Bank, $3.3 million

The total bailout committed to California-based institutions is $33.7 billion, which is 5.9% of the total bailout so far committed.

In January we counted five central coast banks accepting federal help.

Now, two California banks which accepted bailout money last December and January, have already returned it to the taxpayers.

Bank of Marin Bancorp got their $28 million bailout check last December, 2008; they returned it March 31, 2009. First ULB Corp received $4.9 million on January 23 and refunded it to the US Treasury April 22 of this year.

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