179 Local Nonprofit Organizations Receive Community Dividends® Awards and Share of $1.2 Million at Montecito Bank & Trust’s 17th Annual Luncheon

November 22, 2021

Montecito Bank & Trust kicked off the holiday season with the special annual tradition of the Community Dividends awards luncheon.

Santa Barbara, CA – Montecito Bank & Trust kicked off the holiday season on Monday November 22, 2021, as it has for the last 19 years, with the special annual tradition of the Community Dividends awards luncheon. Through this unique giving program, the Bank has granted more than $19 million to local Santa Barbara and Ventura County nonprofit organizations. The Community Dividends $1.2 million investment in the nonprofit community accounts for the majority of the Bank’s annual total investment nonprofit giving of $1.5 million

Chairman & CEO, Janet Garufis, welcomed 179 nonprofit leaders from Ventura and Santa Barbara counties to the Community Dividends luncheon at the Hilton Santa Barbara Beachside Resort. She expressed gratitude for the work nonprofit organizations do to lift up communities even when it seemed nearly impossible. “Every year we give thanks for you, but this year we are especially grateful for you, for your staff and your boards and for your commitment to your missions. You did make a difference. You are making a difference.”

The nonprofit leaders were joined by the Bank’s board and leadership team, in addition to the specially-trained MB&T Associates who dedicated the last 20 months to the MB&T Relief Center and were responsible for issuing Paycheck Protection Program (PPP) loans to a vast majority of the nonprofits in the room. It was a celebration of gratitude, perseverance and partnership.

“The lessons of the last 20 months inspire us to keep looking forward to what’s possible. We have learned a lot - about ourselves, our communities and how a business or an organization can adapt at critical moments, reinvent themselves and persevere through change,” said Garufis.

Forty-six years ago Michael Towbes and a small group of local investors started Montecito Bank & Trust because they believed they could deliver exceptional and personalized customer service and fulfill the needs of the local community. When Mr. Towbes became the single shareholder and owner, the vision of investing a meaningful portion of the Bank’s profits back into the community took shape. Three years ago, Montecito Bank & Trust expanded the Community Dividends program to honor the late founder. The Michael Towbes Impact Dividend provides an organization or a couple of organizations with funding for a special program or activity or extend something they had been working on or dreaming about that would create change that is lasting and impactful. The Impact Dividend honors Mr. Towbes and his desire to do more, give more and make an impact. The total amount of the annual Impact Dividend depends on the success of the Bank. Because of the Bank’s significant growth this year, the Michael Towbes Impact Dividend went to two organizations:

• The Housing Trust Fund of Santa Barbara County, Inc. received $100,000 to support its new 3D Printed Affordable Home Project. The project is part of a new Housing Innovations Program to research and demonstrate innovative technologies that reduce the cost of constructing affordable housing and to encourage sustainability through the use of natural, climate resilient and fire-resistant building materials.
• Santa Barbara Neighborhood Clinics Bridge Clinic received $50,000 to support its collaboration with Cottage Health Systems to provide medical and behavioral health services to patients who have been diagnosed with a substance use disorder. The SBNC Bridge Clinic will increase access to treatment at a location close to Cottage Hospital’s Emergency Department.

Community Dividends and the Michael Towbes Community Impact Dividend primarily focus on supporting organizations or programs that serve low- and moderate-income individuals and families in Santa Barbara and Ventura Counties. Dividends are awarded to organizations that serve youth and education, social services, medical and health services, and the arts. A list of all 179 nonprofit organizations that received Montecito Bank & Trust Community Dividends is below.

After last year’s virtual Community Dividends event, nonprofit leaders and MB&T leadership and associates enjoyed the in-person luncheon and networking, sharing of ideas and building stronger bonds within the community all the more!

Montecito Bank & Trust is the oldest and largest locally owned community bank in the Santa Barbara and Ventura counties. Founded in 1975, the bank celebrated its 46th anniversary on March 17, 2021 and operates 11 branch offices in Santa Barbara, Goleta, Solvang, Montecito, Carpinteria, Ventura, Camarillo and Westlake Village. Montecito Bank & Trust has a history of unwavering corporate philanthropy in the local communities it serves, annually donating $1.5 million dollars and volunteering over 7,500 hours to nonprofit organizations in Santa Barbara and Ventura counties. The bank 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, consumer loans; credit cards; merchant services; and online services, including mobile banking and cash management. Its Wealth Management Division provides comprehensive trust services and full investment management for all branch office markets. The Bank has earned 21 Best Bank awards in the last 9 years, in addition to numerous accolades for Best Mortgage and Best Financial Services Company in Santa Barbara, Best Investment Company in Santa Ynez Valley and the third Best Bank to Work For in the United States (American Banker Magazine).

For more information, please contact
Megan Orloff, EVP/Chief Strategy Officer
(805) 564-0236 or [email protected]

2021 Community Dividends^®
Recipient Organizations