Montecito Bank & Trust Provides $1 Million to Local Nonprofits: Defying economy, bank renews commitment to community for seventh-straight year

Americans are languishing in the Great Recession. Unemployment has more than doubled since this time last year. In such an economy, one might assume a bank would be the last place giving away money. On the contrary, Montecito Bank & Trust did just that Monday at its seventh annual Community Dividends luncheon at the Four Seasons Biltmore Resort. For the seventh straight year, in flush times and in lean, the bank distributed $1 million to local nonprofit organizations. This year, most definitely a lean one, the privately held bank spread its wealth among 150 groups filling critical needs in Santa Barbara, Goleta, Montecito, Carpinteria, the Santa Ynez Valley and Ventura County. … Recipients of Montecito Bank & Trust’s 2009 Community Dividends include Westmont College. more

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