Montecito Bank & Trust Provides $1 Million to Local Nonprofits

Defying economy, bank renews commitment to community for seventh-straight year

By William M. Macfadyen, Noozhawk Publisher | Published on 11.23.2009

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.

“For the second year, there’s been great financial stress in both the for-profit and nonprofit worlds,” said Michael Towbes, the bank’s chairman. “In fact,” he joked, “for-profits are looking a lot like nonprofits.”

Towbes said now is no time to pull back.

“Local nonprofit organizations contribute so much to our quality of life,” he said. “We are grateful to once again be able to take a meaningful share of our profits and distribute them to organizations in the communities we serve.

“We hope that others will join us in giving this year, particularly with the economic challenges upon us.”

More than 250 people were on hand for the celebration, and representatives of organizations receiving checks walked away with signature-blue Montecito Bank & Trust reusable bags filled with other goodies. Introduced by bank president and CEO Janet Garufis, Towbes was greeted by sustained applause.

“The checks have already been cut,” he wise-cracked. “You’re too late.”

Garufis emphasized the bank’s paths to prosperity as a convergence of its commitment to the community and the dividends program.

“It’s the best way to make that commitment come alive,” she said. “At $945 million in assets, we’re not the biggest bank ... but we’re at the top in terms of giving.

“Helping our communities grow and prosper is the essence of who we are,” she said. “And it is the patronage and loyalty of our customers who make it possible for us to continue this event.”

The importance of the Community Dividends was evident as stories of gratitude rippled through the ballroom.

Penny Jenkins, president and CEO of the Council on Alcoholism & Drug Abuse, said Montecito Bank & Trust has been very supportive of her organization and the community.

“Not only do they give their money, but they provide people,” said Jenkins, citing the innumerable bank employees who have volunteered over the years. “And (Towbes’ wife) Anne and Mike, and Janet, have always led by example in that regard.”

Jenkins said the bank’s donation would be used to provide scholarships for the Daniel Bryant Youth & Family Treatment Center, which provides outpatient treatment for youth with alcohol and drug problems.

Steven Sharpe, general director of Opera Santa Barbara, said the dividends are inspirational.

“Everybody’s had a difficult year, a lot of donors are struggling,” he said. “For the bank to be an example like this causes all of us to renew our commitments.

“Our community will bounce back but we have to support our local nonprofits.”

Patricia Alpert, development director of the Carpinteria Education Foundation, tied it all together.

“Montecito Bank & Trust has been with us since Day One — 16 years ago,” she exclaimed. “And we’ve been a happy customer since Day One, too.”

Recipients of Montecito Bank & Trust’s 2009 Community Dividends are:

» Adventures in Caring Foundation

» AHA! Program for Teens

» Alano Club of Santa Barbara

» Alzheimer’s Association-California Central Coast Chapter

» American Heart Association of Santa Barbara County

» Angels Foster Care of Santa Barbara

» Anti-Defamation League

» Arts Outreach

» Bishop Diego High School

» Boys & Girls Club of Moorpark

» Boys & Girls Club of Santa Barbara

» Boys & Girls Club of Ventura

» Boys & Girls Clubs of Conejo & Las Virgenes

» (CALM) Child Abuse Listening Mediation

» Cancer Center of Santa Barbara

» Carpinteria Beautiful

» Carpinteria Education Foundation

» Casa Esperanza Homeless Center

» Casa Pacifica Centers for Children and Families

» Casa Serena

» Catholic Charities

» Cesar Chavez Charter School

» Coastal Housing Coalition

» Community Action Commission of Santa Barbara County

» Community Arts Music Association of Santa Barbara

» Community Counseling & Education Center

» Community Environmental Council

» Community Home Health

» Conejo Valley Senior Concerns

» Congregation B’nai B’rith

» Cornelia Moore Dental Foundation

» Cornerstone House of Santa Barbara

» Council on Alcoholism & Drug Abuse

» Court Appointed Special Advocates of Santa Barbara County

» Creative Wealth International

» CSU Channel Islands Foundation

» Diabetes Resource Center of Santa Barbara County

» Direct Relief International

» Domestic Violence Solutions for Santa Barbara County

» Dream Foundation

» Easy Lift Transportation

» Elings Park Foundation

» Emmaus of Santa Barbara

» Endowment for Youth Committee

» Ensemble Theater Company of Santa Barbara

» Family Service Agency of Santa Barbara

» Fielding University

» Food From The Heart

» Food Share of Ventura County

» Foodbank of Santa Barbara County

» Friendship Adult Day Care Center

» Friendship Manor

» Ganna Walska Lotusland Foundation

» Gay & Lesbian Business Association

» Girl Scouts of California’s Central Coast

» Girls Incorporated of Carpinteria

» Girls Incorporated of Greater Santa Barbara

» Goleta Valley Historical Society

» Guide Dogs for the Blind

» Habitat for Humanity of Southern Santa Barbara County

» Habitat for Humanity of Ventura County

» Hospice of Santa Barbara

» Hospice of the Conejo

» Housing Trust Fund of Santa Barbara County

» Isla Vista Youth Projects

» Jewish Federation of Greater Santa Barbara

» Jewish Film Foundation

» La Casa de la Raza

» La Casa de Maria Retreat & Conference Center

» Laguna Cottages for Seniors

» Legal Aid Foundation of Santa Barbara County

» Lobero Theatre Foundation

» Many Mansions

» Mental Health Association in Santa Barbara County

» Museum of Ventura County

» Music Academy of the West

» National Multiple Sclerosis Society

» New Beginnings Counseling Center

» Nonprofit Support Center

» Opera Santa Barbara

» Pacific Pride Foundation

» Page Youth Center

» Parks and Recreation Community Foundation

» PathPoint

» Peoples’ Self-Help Housing Corp.

» Planned Parenthood of Santa Barbara, Ventura and San Luis Obispo Counties

» Recording for the Blind & Dyslexic

» Rehabilitation Hospital Foundation

» Sansum Clinic

» Sansum Diabetes Research Institute

» Santa Barbara Botanic Garden

» Santa Barbara Bowl Foundation

» Santa Barbara Center for the Performing Arts

» Santa Barbara Chamber Orchestra Society

» Santa Barbara Choral Society

» Santa Barbara Community Housing Corp.

» Santa Barbara Cottage Hospital Foundation

» Santa Barbara Education Foundation

» Santa Barbara Family Care Center

» Santa Barbara Firefighters Alliance

» Santa Barbara Foundation

» Santa Barbara Historical Museum

» Santa Barbara International Film Festival

» Santa Barbara Maritime Museum

» Santa Barbara Meals on Wheels

» Santa Barbara Museum of Art

» Santa Barbara Museum of Natural History

» Santa Barbara Neighborhood Clinics

» Santa Barbara Partners in Education

» Santa Barbara Performing Arts League

» Santa Barbara Police Activities League

» Santa Barbara Rape Crisis Center

» Santa Barbara Rescue Mission

» Santa Barbara Symphony

» Santa Barbara Trust for Historic Preservation

» Santa Ynez Valley People Helping People

» Sarah House

» Santa Barbara Theatre

» Scholarship Foundation of Santa Barbara

» Senior Programs of Santa Barbara

» Solvang Friendship House

» Solvang Lutheran Home

» Solvang Senior Center

» Speaking of Stories

» Special Olympics Santa Barbara

» St. Vincent’s Affordable Housing Projects

» State Street Ballet

» Storyteller Children’s Center

» Stuart C. Gildred Family YMCA of Santa Ynez

» Surgical Eye Expeditions International

» Teddy Bear Cancer Foundation

» The Foundation for Girsh Park

» The Foundation for Santa Barbara City College

» The Howard Carden School

» The Little Cottage

» The Marjorie Luke Theatre

» Transition House

» Turning Point Foundation

» UCSB Arts & Lectures

» United Boys & Girls Clubs of Santa Barbara County

» United Way of Santa Barbara County

» United Way of Ventura County

» Unity Shoppe

» Valley Haven

» Ventura County Community Foundation

» Visiting Nurse and Hospice Care of Santa Barbara

» Westmont College

» Wilderness Youth Project

» Women’s Economic Ventures

» YMCA Youth and Family Services at Noah’s Anchorage Youth Crisis Shelter

— Noozhawk publisher Bill Macfadyen can be reached at .(JavaScript must be enabled to view this email address). Follow Noozhawk on Twitter: @noozhawk.

Comments

Noozhawk's comments are moderated, but by posting here you accept your responsibility to follow our rules as part of Noozhawk's shared online community. Please keep your comments civil and helpful. Don't attack other readers personally, and do not use vulgar, abusive or discriminatory language. Use the "Report Abuse" link if a comment violates these standards or our Terms of Use.

» Just another show of "corporate greed" on 11.24.09 @ 04:51 AM

Right all you lefties? (If I only could).
so sad, the government and politicians don’t get any credit for this.

I guess you would prefer that the government be the middleman in “charitable giving” (actually mandatory giving) so they can waste half of your money before handing it back to you.

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» sbstarfield on 11.24.09 @ 08:45 AM

Michael Towbes has been a beacon of light in the corporate world, showing that with great success comes a measure of responsibility to the greater good. His support of non-profit agencies in our communities throughout Santa Barbara and Ventura Counties demonstrates leadership with a conscience and consciousness that deserves every accolade. Thank you for your vision and action.

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» grateful volunteer on 11.24.09 @ 09:01 AM

Many thanks to Michael Towbes and Montecito Bank & Trust for their commitment to philanthropy and our non-profit community whose services improve the quality of life for all.

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» Thank you, Montecito Bank & Trust on 11.24.09 @ 09:15 AM

Your contributions are so appreciated, even more so this year when so many are hurting. Thank you to Noozhawk, too, for covering this story and listing all the worthwhile organizations.

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» Scene&Heard; Magazine on 11.24.09 @ 10:03 AM

Nice article.

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» Get Over It on 11.24.09 @ 12:18 PM

“Just Another Show” needs to get over the vision of lefties as all government all the time. If more corporations gave as much and were as principled as Michael Towbes & Montecito B&T, government would not need to step in as often as they do. I absolutely applaud the good work that many corporations do even if, sometimes (not the case with Mr. Towbes) it is a case of “enlightened self interest” - looking good so they can get more customers or avoid regulation or whatever.

Thank you, Mr. Towbes, for all that you give to the community in time, talent AND treasure.

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» Amy Mallett on 11.24.09 @ 01:00 PM

As a small Non-Profit struggling to keep the doors open to our local senior center, I applaud Montecito Bank and Trust for what they do for this community. Regardless of how you feel, these places need help in an especially hard time. As the months go by, you may see more non-profits closing down because operating expenses just can’t be met. When that happens, you may find that the help you need for yourself or family and friends will no longer be available. As Government cuts all of it’s programs, non-profits are picking up the pieces.

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» Lee Moldaver on 11.24.09 @ 04:55 PM

Thanks for a fine article.

Michael Towbes is a class act in everything he does.

Since this is his bank, he is choosing to take out less this year, so he can give more
to the larger community. Again.

If there were more financial executives like Michael in New York the last decade, the
big crash would not have happened.

Special thanks to Bank of Montecito, the Towbes family, and all the great non-profits quietly do terrific work 52 weeks a year.

Happy Thanksgiving to you all!

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