Formerly known as San Benito Bank, the Pacific Capital Bankcorp
business has officially changed its name to Santa Barbara Bank and
Trust.
Formerly known as San Benito Bank, the Pacific Capital Bankcorp business has officially changed its name to Santa Barbara Bank and Trust.
The local bank Monday celebrated the name change to the San Benito County branches. It held a ribbon cutting at the new downtown site, which opened Monday as well at 650 San Benito St., suite 150, which is the corner of Seventh and San Benito streets. It previously was located at 530 San Benito St.
While the Hollister area bank locations changed the name – which is to reflect the parent company’s efforts to focus branding and marketing efforts – others in the region, such as the South Valley National Bank branches in Gilroy and Morgan Hill, will follow suit and also change their identies.
The move came about a year after the parent company was acquired by Ford Financial Fund, a private equity firm operated by billionaire Gerald Ford. It bought Santa Barbara-based Pacific Capital Bancorp for 20 cents per share, according to Securities Exchange Commission filings released in May 2010 and the Wall Street Journal.
