Montecito Bank & Trust Expands in Ventura County

And So Does Its Philanthropic Commitment


Since its founding 40 years ago, Montecito Bank & Trust has made an unwavering commitment to giving back to the communities it serves by helping to maintain the strength and vitality of those communities in which they live. Since the bank’s expansion into Ventura County in 2004, nonprofits in our community enthusiastically began feeling the generosity of that commitment. Under the leadership of President and Chief Executive Officer Janet Garufis, who was recently named to the prestigious American Banker’s 2015 list of the top 25 Women to Watch, Montecito Bank & Trust now has three Ventura County locations in Westlake, Ventura, and its newest branch, Camarillo. As it continues to grow in Ventura County, so will its philanthropic efforts—good news for area nonprofits.

These philanthropic efforts include the well-known Community Dividends® program, which contributes $1 million annually to more than 150 nonprofit organizations in Santa Barbara and Ventura Counties. In addition, their associates celebrate the bank’s anniversary each year by personally selecting 10 outstanding nonprofits to receive Montecito Bank & Trust’s prestigious Anniversary GrantsSM. But monetary contributions are only part of the story. Associates contribute generously of their personal time and talents as volunteers helping local organizations prosper by providing them with valuable financial tools, including banking services and special benefits designed specifically for nonprofits.

Community Dividends®

Celebrating 13 Years of Giving Back!

Montecito Bank & Trust Founder Michael Towbes started the Community Dividends program in 2003. Each year, just before Thanksgiving, the bank donates $1 million to 501(c)(3) programs that serve low to moderate income individuals and families in Ventura and Santa Barbara Counties. Now in its 13th year, with donations totaling $13 million, the 2015 Community Dividends awards will be presented at a luncheon on November 23. Towbes calls it the “second best day of the year,” next to his birthday.

Anniversary GrantsSM

Each year since 1993, Founder Michael Towbes celebrates the Bank’s March 17th Anniversary by honoring the philanthropic spirit of its 215 employees who remain the heart and soul of the organization and its stewards of goodwill. Bank employees rally together and vote for their favorite organizations to receive a special Anniversary Grant from the Bank. Ten nonprofit organizations are selected and invited to a reception where the associates who championed each of the awardees shares their connection to the cause and gifts them their award.