Montecito Bank & Trust

Headquarters

1000 State Street
Santa Barbara, CA 93101
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.02% 0.65% →
1-Year CD 0.15% 0.70% →
2-Year CD 0.15% 0.75% →
5-Year CD 0.40% 1.15% →
30-Year Mortgage N.A. 2.72% →
15-Year Mortgage N.A. 2.36% →
HELOC N.A. 2.79% →

2021 Overview

General Bank Information

Montecito Bank & Trust is an FDIC insured institution located in Santa Barbara, CA. It was founded in 1975 and has approximately $2.1 billion in assets. Customers can open an account at one of its 13 branches.

FDIC Insured Yes
FDIC Certificate # 21956
Date Established 1975
Assets $ 2.10 billion
Loans $ 1,357.97 million
Deposits $ 1,883.07 million
Capital $ 182.97 million
 

For a more detailed analysis of Montecito Bank & Trust's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - July 26, 2021

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
Savings
0.02% $2,500 $4,999 Learn More
Money Market
0.05% $2,500 $2,999 Learn More
Money Market
0.05% $10,000 $14,999 Learn More
Money Market
0.05% $25,000 $29,999 Learn More
Premium Money Market Account
0.15% $10,000 $14,999 Learn More
Premium Money Market Account
0.15% $25,000 $34,999 Learn More
CD Rates APY MIN MAX
6 Mo CD
0.15% $10,000 $14,999 Learn More
6 Mo CD
0.15% $100,000 $199,999 Learn More
12 Mo CD
0.15% $10,000 $14,999 Learn More
12 Mo CD
0.15% $100,000 $199,999 Learn More
18 Mo CD
0.15% $10,000 $14,999 Learn More
18 Mo CD
0.15% $100,000 $199,999 Learn More
24 Mo CD
0.15% $10,000 $14,999 Learn More
24 Mo CD
0.15% $100,000 $199,999 Learn More
36 Mo CD
0.15% $10,000 $14,999 Learn More
36 Mo CD
0.15% $100,000 $199,999 Learn More
48 Mo CD
0.15% $10,000 $14,999 Learn More
48 Mo CD
0.15% $100,000 $199,999 Learn More
60 Mo CD
0.40% $10,000 $14,999 Learn More
60 Mo CD
0.40% $100,000 $199,999 Learn More

Int Checking Rates APY MIN MAX
Int Ckg
0.02% $2,500 $3,499 Learn MoreShow Less
 

Loan Rates - July 26, 2021

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Montecito Bank & Trust

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:




Featured - Connecticut 30 Year Fixed Mortgage Rates 2021

Lender APR Rate (%) Monthly
Payment
Learn More
Rocket Mortgage
NMLS ID: 3030
3.349% 3.250%
0.75 points
$3,125 fees
$1,089 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2021

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loan
Third Federal Savings and Loan
See Table
2.240 %
$0 Learn More
More Info
BMO Harris Bank
BMO Harris Bank
See Table
4.840 %
$0 Learn More
More Info
Bethpage Federal Credit Union
Bethpage Federal Credit Union
See Table
Intro APR 2.990 %
After Intro: 3.750 %
Intro Period: 12 months
$25,000 Learn More
More Info

Note to Montecito Bank & Trust
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Branches

Montecito Bank & Trust branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Fairfield,Connecticut


Montecito Bank & Trust Locations


Financial Details

Montecito Bank & Trust Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Montecito Bank & Trust. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Montecito Bank & Trust U.S. Bank Average
5.64% 5.29%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of March 31, 2021, Montecito Bank & Trust had $11,149,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $182,972,000 in equity and $14,625,000 in loans loss reserves. That gives it a Texas Ratio of 5.64%.

Return on Equity
Montecito Bank & Trust U.S. Bank Average
8.23% 11.43%

Montecito Bank & Trust has a Return on Equity of 8.23% versus the BestCashCow average of 11.43%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
Montecito Bank & Trust U.S. Bank Average
8.73% 11.51%

Montecito Bank & Trust has a Capitalization of 8.73% versus the BestCashCow average of 11.51. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Montecito Bank & Trust Balance Sheet Analysis

As of March 31, 2021, Montecito Bank & Trust had assets of $2,096,304,000, loans of $1,357,972,000, and deposits of $1,883,066,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

March 31, 2021
ASSETS
Cash & Balances due from depository institutions $ 148.00 million
Interest-bearing balances $ 128.84 million
Total securities $ 513.58 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 1,357.97 million
Loan loss allowance $ 14.63 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 7.32 million
All other assets $ 57.57 million
     Total Assets $ 1,913.33 million
LIABILITIES
Total deposits $ 1,883.07 million
      Interest-bearing deposits $ 1,818.68 million
      Deposits held in domestic offices $ 1,883.07 million
      % insured (estimated) 56.34%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 5.00 million
Subordinated debt N.A.
All other liabilities $ 25.27 million
      Total Liabilities $ 1,913.33 million
      Shareholders’ Equity $ 182.97 million

Summary Income Statement

March 31, 2021
INCOME AND EXPENSES
Total Interest Income $ 16.43 million
Total Interest Expense $ 0.44 million
Net interest income $ 15.99 million
Provision for loan and lease losses N.A.
Total non interest income $ 3.09 million
Total non interest expense $ 14.05 million
Pre-tax Net Operating Income $ 5.03 million

Bank Loan Profile?

The top three loan types in Montecito Bank & Trust’s loan portfolio are Commercial Real Estate, Commercial and Industrial Loans, and 1-4 Family Residential Loans.

Compared to other banks, Montecito Bank & Trust’s loan portfolio does not show any specific loan specialty.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 19.12
Multifamily
Mortgages
13.74
Credit Card Loans 0.01
Consumer Auto Loans 0.00
Small Business Loans 0.00
Construction and Development Loans 2.71
Commercial Real Estate 34.85
Commercial and Industrial Loans 28.56
Farm Loans 0.07

Frequently Asked Questions About Montecito Bank & Trust

Branches and Savings

Is Montecito Bank & Trust FDIC insured?

Yes. It is covered under FDIC Certificate #21956.

Why does Montecito Bank & Trust pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are Montecito Bank & Trust CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is Montecito Bank & Trust a commercial bank?

Yes

Where are Montecito Bank & Trust locations?

See branch locations nearby.

Is Montecito Bank & Trust open on Saturdays?

Is Montecito Bank & Trust open on Sundays?

What time does Montecito Bank & Trust open?

What time does Montecito Bank & Trust close?

Are Montecito Bank & Trust ATMs Open 24/7?

Do Montecito Bank & Trust ATMs accept cash deposits?

Can Montecito Bank & Trust customers use other ATMs?

Do Montecito Bank & Trust branches have notaries?

Will Montecito Bank & Trust notarize my document?

What address for Montecito Bank & Trust should I put for incoming ACH transfers?

Will the Montecito Bank & Trust branch print checks?

Do Montecito Bank & Trust checks expire?

Does Montecito Bank & Trust require US citizenship to open account?

Can Montecito Bank & Trust close my account?

Does Montecito Bank & Trust Report to credit bureaus?

Does Montecito Bank & Trust Use Equifax?

What is Montecito Bank & Trust's ACH Routing Number?

What is Montecito Bank & Trust's SWIFT code?

Products

Does Montecito Bank & Trust offer mortgages?

Compare mortgage rates here.

Does Montecito Bank & Trust offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Montecito Bank & Trust offer personal loans?

Compare personal loan rates here.

Does Montecito Bank & Trust offer student loans?

Will Montecito Bank & Trust cash a check?

Will Montecito Bank & Trust redeem a savings bond?

Does Montecito Bank & Trust cash savings bonds?

Will Montecito Bank & Trust cash money orders?

Can Montecito Bank & Trust issue a money order?

Does Montecito Bank & Trust do currency exchange?

Background on The Bank

Who owns Montecito Bank & Trust?

How long has Montecito Bank & Trust been around?

Can Montecito Bank & Trust transfer to other banks?

Does Montecito Bank & Trust have quick pay?

Does Montecito Bank & Trust accept rolled coins?

Will Montecito Bank & Trust accept loose change?

Where is Montecito Bank & Trust headquarters?

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