Montecito Bank & Trust reported net income grew 11.52 percent year-over-year, to $12.2 million, driven by strong loan growth of 16 percent during the same period, or $127 million, to $924 million.

Deposits grew 3 percent, or $35 million, year-over-year. Assets grew 3.64 percent, from $1.3 billion to $1.35 billion, during the same period.

The bank reports its total capital remains very strong at 12.7 percent, exceeding the 10 percent regulatory minimum required to be considered well-capitalized.

“I am proud of the continued dedication our locally based teams demonstrate to our communities each and every day,” Janet Garufis, chairman/CEO said.

“Our priority is to provide flexible solutions to meet the individual needs of our customers and as loan demand continues to be strong we can be extremely responsive in offering the communities we serve the products and services they need to thrive,” she said.

Montecito Bank & Trust, an S Corporation, is the oldest and largest locally owned community bank in Santa Barbara and Ventura counties. Founded in 1975, the bank marked its 42nd anniversary March 17.

The bank operates 10 branch offices in Santa Barbara, Goleta, Solvang, Montecito, Carpinteria, Ventura, Camarillo and Westlake Village.

The bank was awarded the 2017 Bank of the Year (Western Independent Bankers) from among more than 550 independent community banks headquartered in 13 western states.

Montecito Bank & Trust offers a variety of competitive deposit and lending solutions for businesses and consumers, including business loans and lines of credit; commercial real estate finance; SBA loans; mortgage loans and consumer loans.

Montecito Bank & Trust received a 2016 Premier Performing Bank designation by The Findley Reports, an independent service which rates the annual performance of California banks.

Montecito Bank & Trust has been designated as a Premier Performing or Super Premier Performing bank by The Findley Reports 32 times.

— Megan Orloff for Montecito Bank & Trust.