Montecito Bank & Trust Celebrates 50 years in Santa Barbara and Ventura Counties
SANTA BARBARA, Calif. (KEYT) -Â A 50th anniversary celebration took place Wednesday evening at Montecito Bank & Trust.
The main branch in downtown Santa Barbara was filled with guests to raise a glass and toast the bank.
It was started by the late Michael Towbes and his partners. Towbes became the sole owner in 1983. Invited guests joined the bank staff and the board of directors for the special event. Photos and newspaper clippings from the last 50 years were on display.
The bank first began out of a trailer in Montecito. Now it has locations throughout Santa Barbara and Ventura Counties.
It is known for its philanthropy and gives out $1-million dollars each year to non-profits at a special dividend luncheon the week of Thanksgiving.
A video with a message from Towbes is played at the luncheon. Funds mainly go to arts and culture, youth and education, health and medical and social services.
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