Montecito Bank & Trust Mortgage Rates, Fees & Info
Santa Barbara, CALEI: 549300A7BPOO2YO2YE30
Tax ID: 95-2900153
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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.
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Originations
124Origination Dollar Volume (All Markets)
$1,631,030,000Employee count
229Top 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% |
Their top states include:
Similar Lenders
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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
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
2019 saw Montecito Bank & Trust place emphasis on $400k-600k loans with 31 originations, totaling $15,475,000 in origination value.
Applicant Income
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
Approval Rates
Total approvals of all applications81.11%
Montecito Bank & Trust has a below average approval rate.
Pick Rate
Approvals leading to origination74.19%
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
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 |