Montecito Bank & Trust Mortgage Rates, Fees & Info

Santa Barbara, CA

LEI: 549300A7BPOO2YO2YE30

Tax ID: 95-2900153

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Review & Overview

Montecito Bank & Trust is a smaller bank specializing in Refi and Home Purchase loans. Montecito Bank & Trust has a high proportion of conventional loans. Their top markets by origination volume include: Santa Maria, Oxnard, San Luis Obispo, Fresno, and Riverside among others. We have data for 7 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

137

Origination Dollar Volume (All Markets)

$113,665,000

Employee count

257

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
SANTA MARIA-SANTA BARBARA, CA (FHA\|USDA\|VA)	106	$88,650,000	$836,321	$0	0.00%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA\|USDA\|VA)	21	$19,055,000	$907,381	$0	0.00%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA\|USDA\|VA)	3	$1,805,000	$601,667	$0	0.00%
FRESNO, CA (FHA\|USDA\|VA)	1	$1,205,000	$1,205,000	$0	0.00%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA\|USDA\|VA)	2	$1,120,000	$560,000	$0	0.00%
AMARILLO, TX (FHA\|USDA\|VA)	1	$1,105,000	$1,105,000	$0	0.00%
Los Angeles-Long Beach-Anaheim, CA (FHA\|USDA\|VA)	3	$725,000	$241,667	$0	0.00%

Montecito Bank & Trust's top markets include Santa Maria, Oxnard, San Luis Obispo, Fresno, and Riverside among others.

Their top states include:

California (FHA|USDA|VA)

Texas (FHA|USDA|VA)

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Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	137	$113,665,000	$829,672	$0	0.00%

For 2021, Montecito Bank & Trust's most frequently originated type of loan was Conventional, with 137 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Refi	88	$75,100,000	$853,409	$0	0.00%
Home Purchase	26	$27,880,000	$1,072,308	$0	0.00%
Cash Out Refi	22	$10,070,000	$457,727	$0	0.00%
Other	1	$615,000	$615,000	$0	0.00%

For 2021, Montecito Bank & Trust's most frequently cited loan purpose was Refi, with 88 originations. The 2nd most popular reason was Home Purchase, with 26 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	137	$113,665,000	$829,672	$0	0.00%

For 2021, Montecito Bank & Trust's most frequently cited loan duration was Other, with 137 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$600k-1MM	39	$29,645,000	$760,128	$0	0.00%
$1MM+	38	$62,440,000	$1,643,158	$0	0.00%
$400k-600k	28	$13,910,000	$496,786	$0	0.00%
$200k-400k	21	$6,155,000	$293,095	$0	0.00%
$100k-200k	7	$1,155,000	$165,000	$0	0.00%
$100,000 or less	4	$360,000	$90,000	$0	0.00%

2021 saw Montecito Bank & Trust place emphasis on $600k-1MM loans with 39 originations, totaling $29,645,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$250k+	28	$30,880,000	$1,102,857	$0	0.00%
$150k-250k	15	$9,475,000	$631,667	$0	0.00%
$100k-150k	10	$4,930,000	$493,000	$0	0.00%
$75k-100k	9	$2,005,000	$222,778	$0	0.00%
$50k-75k	4	$1,220,000	$305,000	$0	0.00%
$50k or less	2	$400,000	$200,000	$0	0.00%

Montecito Bank & Trust lent most frequently to those with incomes in the $250k+ range, with 28 originations. The second most popular income band? $150k-250k, with 15 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	137	$113,665,000	$829,672	$0	0.00%

Montecito Bank & Trust lent most frequently to those with DTI ratios of Exempt%, with 137 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	122	$88,260,000	$723,443	$0	0.00%
Not applicable	15	$25,405,000	$1,693,667	$0	0.00%

Approval Rates

Total approvals of all applications
83.21%

Montecito Bank & Trust has a below average approval rate.

Pick Rate

Approvals leading to origination
73.72%

Montecito Bank & Trust has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	137	$113,665,000	$829,672

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	137	$113,665,000	$829,672

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	$390,978
Montecito Bank & Trust	101 N. Westlake Blvd, Suite 110 Westlake Village, CA 91362	Full Service B&M	$70,282
Montecito Bank & Trust	1023 Casitas Pass Road Carpinteria, CA 93013	Full Service B&M	$163,871
Montecito Bank & Trust	1106-A Coast Village Road Montecito, CA 93108	Full Service B&M	$369,063
Montecito Bank & Trust	2034 Cliff Drive Santa Barbara, CA 93109	Full Service B&M	$32,634
Montecito Bank & Trust	2550 Treasure Drive Santa Barbara, CA 93105	Full Service B&M	$1,265
Montecito Bank & Trust	300 Hot Springs Road Montecito, CA 93108	Full Service B&M	$9,926
Montecito Bank & Trust	3802 State Street Santa Barbara, CA 93105	Full Service B&M	$213,479
Montecito Bank & Trust	4730 Telephone Road, Suite 10 Ventura, CA 93003	Full Service B&M	$134,750
Montecito Bank & Trust	5486 Calle Real Santa Barbara, CA 93111	Full Service B&M	$1,951
Montecito Bank & Trust	5658 Calle Real Goleta, CA 93117	Full Service B&M	$189,928
Montecito Bank & Trust	591 Alamo Pintado Road Solvang, CA 93463	Full Service B&M	$282,908
Montecito Bank & Trust	6900 Hollister Avenue Goleta, CA 93117	Full Service B&M	$59,918
Montecito Bank & Trust	770 Paseo Camarillo, Suite 120 Camarillo, CA 93010	Full Service B&M	$46,104

For 2021, Montecito Bank & Trust had 14 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$70,418
Net interest income	$68,830
Total noninterest income	$13,424
Gross Fiduciary activities income	$7,856
Service charges on deposit accounts	$914
Trading account gains and fees	$0
Additional Noninterest Income	$4,654
Pre-tax net operating income	$23,821
Securities gains (or losses, -)	$546
Income before extraordinary items	$17,527
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$17,527
Minority interest net income	$0
Net income	$17,527
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$17,095

Montecito Bank & Trust's gross interest income from loans was $70,418,000.
Montecito Bank & Trust's net interest income from loans was $68,830,000.
Montecito Bank & Trust's fee based income from loans was $914,000.
Montecito Bank & Trust's net income from loans was $17,527,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$1,588
Provision for credit losses	$0
Total noninterest expense	$58,433
Salaries and employee benefits	$33,835
Premises and equipment expense	$7,096
Additional noninterest expense	$17,502
Applicable income taxes	$6,840
Net charge-offs	$-171
Cash dividends	$1,815

Montecito Bank & Trust's interest expense for loans was $1,588,000.
Montecito Bank & Trust's payroll and benefits expense were $33,835,000.
Montecito Bank & Trust's property, plant and equipment expenses $7,096,000.

Loan Performance

Type of Loan	% of Loans Noncurrent (30+ days, end of period snapshot)
All loans	0.0%
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	3.0%
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	3.0%

Deposits

Type	Value (in 000's)
Total deposits	$2,134,016
Deposits held in domestic offices	$2,134,016
Deposits by Individuals, partnerships, and corporations	$2,090,104
Deposits by U.S. Government	$34
Deposits by States and political subdivisions in the U.S.	$43,878
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	$1,988,236
Demand deposits	$1,988,236
Nontransaction accounts	$145,780
Money market deposit accounts (MMDAs)	$0
Other savings deposits (excluding MMDAs)	$69,125
Total time deposits	$76,655
Total time and savings deposits	$145,780
Noninterest-bearing deposits	$740,686
Interest-bearing deposits	$1,393,330
Retail deposits	$2,114,026
IRAs and Keogh plan accounts	$18,701
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$2,351,262
Cash & Balances due from depository institutions	$412,307
Interest-bearing balances	$396,051
Total securities	$702,844
Federal funds sold & reverse repurchase	$0
Net loans and leases	$1,159,465
Loan and leases loss allowance	$14,726
Trading account assets	$0
Bank premises and fixed assets	$11,807
Other real estate owned	$0
Goodwill and other intangibles	$7,319
All other assets	$57,520

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$2,351,262
Total Liabilities	$2,158,673
Total deposits	$2,134,016
Interest-bearing deposits	$1,393,330
Deposits held in domestic offices	$2,134,016
% insured (estimated)	$53
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$24,657

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$1,159,465
Loan and leases loss allowance	$14,726
Total loans and leases (domestic)	$1,174,191
All real estate loans	$994,470
Real estate loans in domestic offices	$994,470
Construction and development loans	$29,996
Residential 1-4 family construction	$11,698
Other construction, all land development and other land	$18,298
Loans secured by nonfarm nonresidential properties	$517,142
Nonfarm nonresidential secured by owner-occupied properties	$250,773
Commercial real estate & other non-farm, non-residential	$266,369
Multifamily residential real estate	$201,591
1-4 family residential loans	$243,228
Farmland loans	$2,513
Loans held in foreign offices	$0
Farm loans	$394
Commercial and industrial loans	$151,879
To non-U.S. addressees	$0
Loans to individuals	$15,036
Credit card loans	$366
Related Plans	$212
Consumer Auto Loans	$0
Other loans to individuals	$14,458
All other loans & leases	$16,914
Loans to foreign governments and official institutions	$0
Other loans	$16,914
Loans to depository institutions and acceptances of other banks	$0
Loans not secured by real estate	$24,063
Loans secured by real estate to non-U.S. addressees	$0
Restructured Loans & leases	$0
Non 1-4 family restructured loans & leases	$0
Total loans and leases (foreign)	$0

Montecito Bank & Trust had $1,159,465,000 of loans outstanding in 2021. $994,470,000 of loans were in real estate loans. $29,996,000 of loans were in development loans. $201,591,000 of loans were in multifamily mortgage loans. $243,228,000 of loans were in 1-4 family mortgage loans. $394,000 of loans were in farm loans. $366,000 of loans were in credit card loans. $0 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	144	$73,991	$513,826
Nonfarm, nonresidential loans - $100-250k	19	$2,115	$111,316
Nonfarm, nonresidential loans - $250k-1MM	125	$71,876	$575,008
Commercial & Industrial, US addressed loans - <$1MM	1,067	$71,907	$67,392
Commercial & Industrial, US addressed loans - <$100k	732	$14,448	$19,738
Commercial & Industrial, US addressed loans - $100-250k	177	$15,570	$87,966
Commercial & Industrial, US addressed loans - $250k-1MM	158	$41,889	$265,120
Farmland loans - <$1MM	1	$216	$216,000
Farmland loans - $250k-1MM	1	$216	$216,000
Agriculture operations loans - <$1MM	1	$394	$394,000
Agriculture operations loans - $250k-1MM	1	$394	$394,000