Santa Barbara-based American Riviera Bank saw net income take a slight dip in the first quarter of 2024. Announced April 24, ARB noted net income of $2.2 million for the quarter ended March 31, down from $3 million in the same quarter a year ago. According to a press release, the dip in net income
Don’t obsess too much over Fed policy and inflation levels writes Mitch Zacks of Zacks Investment Management, adding that “it’s clear in the current environment that the Fed believes policy is sufficiently restrictive, meaning there’s no expectation that interest rates will go any higher.” With the economy growing and labor markets strong the current period resembles the period from 1950-22 when inflation was running at 3% to
Sierra Bancorp, the parent company of Bank of the Sierra, announced its results for the first quarter of 2024 on April 23, noting that consolidated net income was at $9.3 million for the quarter, up from $8.8 million in the same quarter a year ago. According to the financial statements, the “favorable variance” in net
Buybacks could play a role in the S&P 500’s performance over the next 18 months. Goldman Sachs Research writes that companies in the S&P 500 will likely buy back $925 billion in stock in 2024, up from an earlier estimated $840 billion, thanks in part to “stronger than expected growth in earnings and margins.” That’s especially true
San Luis Obispo-based wealth management firm Wacker Wealth Partners has been sold to EP Wealth Advisors for an undisclosed amount. Announced April 2, Wacker Wealth is the largest wealth management firm in San Luis Obispo with more than $1.2 billion in assets under management. This also expands EP's Wealth Advisors California reach into the Central