Montecito Bank & Trust Mortgage Rates, Fees & Info

Santa Barbara, CA

LEI: 549300A7BPOO2YO2YE30

Tax ID: 95-2900153

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Mortgage Data

Bank Data

Review & Overview

Montecito Bank & Trust is a small bank specializing in Cash Out Refi and Refi loans. Montecito Bank & Trust has a high proportion of conventional loans. Their top markets by origination volume include: Oxnard, Santa Maria, Riverside, Los Angeles, and Seattle among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

Montecito Bank & Trust has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

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Originations

124

Origination Dollar Volume (All Markets)

$1,631,030,000

Employee count

229

Top Markets

Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

Market Originations Total Value Average Loan Average Fees Average Rate
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 30 $831,200,000 $27,706,667 $0 0.00%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 81 $427,035,000 $5,272,037 $0 0.00%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $360,005,000 $360,005,000 $0 0.00%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 7 $8,695,000 $1,242,143 $0 0.00%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 1 $2,005,000 $2,005,000 $0 0.00%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 1 $665,000 $665,000 $0 0.00%
BAKERSFIELD, CA (FHA|USDA|VA) 1 $565,000 $565,000 $0 0.00%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 1 $555,000 $555,000 $0 0.00%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $305,000 $305,000 $0 0.00%
Montecito Bank & Trust's top markets include Oxnard, Santa Maria, Riverside, Los Angeles, and Seattle among others.

Their top states include:
  • California (FHA|USDA|VA)
  • Washington (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 124 $1,631,030,000 $13,153,468 $0 0.00%

    For 2019, Montecito Bank & Trust's most frequently originated type of loan was Conventional, with 124 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 48 $35,550,000 $740,625 $0 0.00%
    Cash Out Refi 35 $1,198,545,000 $34,244,143 $0 0.00%
    Refi 32 $392,360,000 $12,261,250 $0 0.00%
    Other 7 $4,365,000 $623,571 $0 0.00%
    Home Improvement 2 $210,000 $105,000 $0 0.00%

    For 2019, Montecito Bank & Trust's most frequently cited loan purpose was Home Purchase, with 48 originations. The 2nd most popular reason was Cash Out Refi, with 35 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 124 $1,631,030,000 $13,153,468 $0 0.00%

    For 2019, Montecito Bank & Trust's most frequently cited loan duration was Other, with 124 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 31 $15,475,000 $499,194 $0 0.00%
    $600k-1MM 31 $22,575,000 $728,226 $0 0.00%
    $1MM+ 28 $1,585,160,000 $56,612,857 $0 0.00%
    $200k-400k 23 $6,545,000 $284,565 $0 0.00%
    $100k-200k 7 $975,000 $139,286 $0 0.00%
    $100,000 or less 4 $300,000 $75,000 $0 0.00%

    2019 saw Montecito Bank & Trust place emphasis on $400k-600k loans with 31 originations, totaling $15,475,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 29 $845,625,000 $29,159,483 $0 0.00%
    $150k-250k 23 $373,485,000 $16,238,478 $0 0.00%
    $100k-150k 13 $6,685,000 $514,231 $0 0.00%
    $75k-100k 13 $4,695,000 $361,154 $0 0.00%
    $50k-75k 10 $2,510,000 $251,000 $0 0.00%

    Montecito Bank & Trust lent most frequently to those with incomes in the $250k+ range, with 29 originations. The second most popular income band? $150k-250k, with 23 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 124 $1,631,030,000 $13,153,468 $0 0.00%

    Montecito Bank & Trust lent most frequently to those with DTI ratios of Exempt%, with 124 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 110 $1,611,620,000 $14,651,091 $0 0.00%
    Not applicable 11 $17,715,000 $1,610,455 $0 0.00%
    Asian 1 $725,000 $725,000 $0 0.00%
    Black 1 $585,000 $585,000 $0 0.00%
    Not provided 1 $385,000 $385,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    81.11%

    Montecito Bank & Trust has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    74.19%

    Montecito Bank & Trust has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 124 $1,631,030,000 $13,153,468

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 9 $15,095,000 $1,677,222
    Single Family (1-4 Units):Manufactured 14 $2,600,000 $185,714
    Single Family (1-4 Units):Site-Built 101 $1,613,335,000 $15,973,614

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Montecito Bank & Trust 1000 State Street Santa Barbara, CA 93101 Full Service B&M $234,009
    Montecito Bank & Trust 1023 Casitas Pass Road Carpinteria, CA 93013 Full Service B&M $129,821
    Montecito Bank & Trust 1106-A Coast Village Road Montecito, CA 93108 Full Service B&M $244,700
    Montecito Bank & Trust 1933 Cliff Drive Suite 28 Santa Barbara, CA 93109 Full Service B&M $7,460
    Montecito Bank & Trust 300 Hot Springs Road Montecito, CA 93108 Full Service B&M $3,533
    Montecito Bank & Trust 3802 State Street Santa Barbara, CA 93105 Full Service B&M $176,745
    Montecito Bank & Trust 4730 Telephone Road, Suite 10 Ventura, CA 93003 Full Service B&M $95,359
    Montecito Bank & Trust 5486 Calle Real Santa Barbara, CA 93111 Full Service B&M $1,665
    Montecito Bank & Trust 5658 Calle Real Goleta, CA 93117 Full Service B&M $147,453
    Montecito Bank & Trust 591 Alamo Pintado Road Solvang, CA 93463 Full Service B&M $184,540
    Montecito Bank & Trust 6900 Hollister Avenue Goleta, CA 93117 Full Service B&M $40,978
    Montecito Bank & Trust 770 Paseo Camarillo, Suite 120 Camarillo, CA 93010 Full Service B&M $38,590
    Montecito Bank & Trust 968 South Westlake Blvd., Suite 10 Westlake Village, CA 91361 Full Service Retail $49,035

    For 2019, Montecito Bank & Trust had 13 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $63,474
    Net interest income $57,068
    Total noninterest income $10,376
    Gross Fiduciary activities income $5,927
    Service charges on deposit accounts $1,168
    Trading account gains and fees $0
    Additional Noninterest Income $3,281
    Pre-tax net operating income $14,444
    Securities gains (or losses, -) $201
    Income before extraordinary items $10,164
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $10,164
    Minority interest net income $0
    Net income $10,164
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $10,005

    Montecito Bank & Trust's gross interest income from loans was $63,474,000.
    Montecito Bank & Trust's net interest income from loans was $57,068,000.
    Montecito Bank & Trust's fee based income from loans was $1,168,000.
    Montecito Bank & Trust's net income from loans was $10,164,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $6,406
    Provision for credit losses $240
    Total noninterest expense $52,760
    Salaries and employee benefits $32,016
    Premises and equipment expense $6,601
    Additional noninterest expense $14,143
    Applicable income taxes $4,481
    Net charge-offs $-23
    Cash dividends $690

    Montecito Bank & Trust's interest expense for loans was $6,406,000.
    Montecito Bank & Trust's payroll and benefits expense were $32,016,000.
    Montecito Bank & Trust's property, plant and equipment expenses $6,601,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 4.0%
    All other family 0.0%
    Commercial & industrial loans 5.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $1,412,215
    Deposits held in domestic offices $1,412,215
    Deposits by Individuals, partnerships, and corporations $1,379,003
    Deposits by U.S. Government $17
    Deposits by States and political subdivisions in the U.S. $33,196
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $70,861
    Demand deposits $70,861
    Nontransaction accounts $1,341,355
    Money market deposit accounts (MMDAs) $1,181,882
    Other savings deposits (excluding MMDAs) $37,999
    Total time deposits $121,474
    Total time and savings deposits $1,341,355
    Noninterest-bearing deposits $56,295
    Interest-bearing deposits $1,355,920
    Retail deposits $1,369,268
    IRAs and Keogh plan accounts $16,804
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,608,513
    Cash & Balances due from depository institutions $84,325
    Interest-bearing balances $63,898
    Total securities $439,585
    Federal funds sold & reverse repurchase $810
    Net loans and leases $1,027,290
    Loan and leases loss allowance $13,059
    Trading account assets $0
    Bank premises and fixed assets $10,538
    Other real estate owned $0
    Goodwill and other intangibles $7,319
    All other assets $38,646

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,608,513
    Total Liabilities $1,434,416
    Total deposits $1,412,215
    Interest-bearing deposits $1,355,920
    Deposits held in domestic offices $1,412,215
    % insured (estimated) $59
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $22,201

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,027,290
    Loan and leases loss allowance $13,059
    Total loans and leases (domestic) $1,040,349
    All real estate loans $878,792
    Real estate loans in domestic offices $878,792
    Construction and development loans $18,833
    Residential 1-4 family construction $10,176
    Other construction, all land development and other land $8,657
    Loans secured by nonfarm nonresidential properties $443,229
    Nonfarm nonresidential secured by owner-occupied properties $223,250
    Commercial real estate & other non-farm, non-residential $219,979
    Multifamily residential real estate $152,694
    1-4 family residential loans $261,176
    Farmland loans $2,860
    Loans held in foreign offices $0
    Farm loans $3,733
    Commercial and industrial loans $117,111
    To non-U.S. addressees $0
    Loans to individuals $18,807
    Credit card loans $23
    Related Plans $327
    Consumer Auto Loans $30
    Other loans to individuals $18,427
    All other loans & leases $24,607
    Loans to foreign governments and official institutions $0
    Other loans $24,607
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $45,427
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $265
    Non 1-4 family restructured loans & leases $265
    Total loans and leases (foreign) $0

    Montecito Bank & Trust had $1,027,290,000 of loans outstanding in 2019. $878,792,000 of loans were in real estate loans. $18,833,000 of loans were in development loans. $152,694,000 of loans were in multifamily mortgage loans. $261,176,000 of loans were in 1-4 family mortgage loans. $3,733,000 of loans were in farm loans. $23,000 of loans were in credit card loans. $30,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 131 $68,846 $525,542
    Nonfarm, nonresidential loans - <$100k 1 $41 $41,000
    Nonfarm, nonresidential loans - $100-250k 16 $2,448 $153,000
    Nonfarm, nonresidential loans - $250k-1MM 114 $66,357 $582,079
    Commercial & Industrial, US addressed loans - <$1MM 557 $51,627 $92,688
    Commercial & Industrial, US addressed loans - <$100k 275 $6,952 $25,280
    Commercial & Industrial, US addressed loans - $100-250k 142 $11,094 $78,127
    Commercial & Industrial, US addressed loans - $250k-1MM 140 $33,581 $239,864
    Farmland loans - <$1MM 1 $236 $236,000
    Farmland loans - $250k-1MM 1 $236 $236,000
    Agriculture operations loans - <$1MM 1 $412 $412,000
    Agriculture operations loans - $250k-1MM 1 $412 $412,000