Montecito Bank & Trust announced at its annual anniversary grant event that founding board member Jerry Parent has retired from its board of directors after 46 years of service.
As a founding board member, Parent was responsible for inviting Montecito Bank & Trust’s late co-rounder and owner, Michael Towbes, to join the group of business people who originally started the “Bank of Montecito” in 1975 with a singular focus on creating a local bank committed to serving the needs of the community.
And the rest, as they say, is history.
Parent, a trust and estates attorney for 54 years and founding partner at Hatch and Parent, has been an important and impactful board member throughout the bank’s 46 year journey and its substantial growth to over $2 billion in assets.
He served as the chair of the bank’s audit committee, and was the catalyst in establishing the bank’s wealth management and trust business, which today manages over $1.2 billion in assets.
He has also been a visionary supporter of the bank’s significant investments in technology and online banking and digital services.
Janet Garufis, chair & CEO, said, “I have had the incredible privilege of working with Jerry for the last 18 years. Jerry never rested on our accomplishments, but always looked forward to how else we could innovate and serve our community. Jerry’s vision for our bank embodies everything that he and Mike endeavored to build when they started Montecito Bank & Trust.
“We are so grateful for his vision and leadership, and for enabling all of us to play a part in the bank’s history. I am confident Mike knew that the advice and counsel of his long-time friend and business partner would serve our bank well into the future.
“Jerry will continue to be a part of the bank’s journey as our first emeritus board member. We thank Jerry for his kindness and commitment to success and congratulate him on his 46 years of dedication and service.”
Parent and his wife, Claire, have been actively involved in a number of local nonprofits, giving generously of their time, talent and treasure. The Santa Barbara community is fortunate that Jerry and Claire Parent call Santa Barbara, home.
The Montecito Bank & Trust family looks forward to continuing to honor Jerry’s contributions with the annual Jerry Parent Legacy Award, which will be given at the anniversary grants celebration to a nonprofit organization that makes a significant and sustainable impact on the community.
Ashlyn Cornes is marketing supervisor for Montecito Bank & Trust.