195 Local Nonprofit Organizations Receive Community Dividends® Awards and Share of $1.1 Million at Montecito Bank & Trust’s 21st Annual Luncheon

November 20, 2023

Montecito Bank & Trust kicked off the holiday season on Monday November 20, 2023, as it has for the last 21 years, with the special annual tradition of their Community Dividends awards luncheon.

Santa Barbara, CA – Montecito Bank & Trust kicked off the holiday season on Monday November 20, 2023, as it has for the last 21 years, with the special annual tradition of their Community Dividends awards luncheon. Through this unique giving program, the Bank has granted more than $22 million to local Santa Barbara and Ventura County nonprofit organizations. This year’s Community Dividends $1.1 million investment in the nonprofit community accounts for the majority of the Bank’s annual total investment nonprofit giving of $1.7 million.

The Hilton Santa Barbara Beachside Resort rotunda was filled with 195 nonprofit leaders from Santa Barbara and Ventura counties. Following a casual networking hour, Chairman & CEO, Janet Garufis, took to the stage to welcome the deserving nonprofits, expressing gratitude for their dedication and admiration of the positive effects their work and leadership has on our communities. “As leaders of our local nonprofits, you play a pivotal role in driving the growth, development and vitality of our communities. You inspire and motivate your staff, your boards and the larger community to come together, work towards a common goal and make a tangible difference in the lives of so many. Our communities and their futures are better because of the work you do today!” Speaking to the $1.1 million gifted in this year’s program, Ms. Garufis noted “It is an honor to be able to support the work of so many worthy organizations. In an ideal world we would be able to say yes to all of the Community Dividend applications we receive each year, and while we do our best to support as many nonprofits within our footprint as we can, it’s inevitable that we have to decline some requests as we evaluate where the greatest needs exist in our local communities. Perhaps one day I will be able to stand at this event and say we were able to say yes to everyone, but until that day I am hopeful that the $1.1 million we can give today, can continue to make meaningful impacts across our communities.”

Forty-eight 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. Five years ago, the Bank expanded the Community Dividends program to honor the impactful legacy of Mr. Towbes, by introducing the Michael Towbes Impact Dividend which is awarded to one or more nonprofits that deliver critical and sustainable services to the most vulnerable people in our community. The Impact Dividend honors Mr. Towbes and his desire to do more, give more and make an impact. Over the past 5 years the Michael Towbes Impact Dividend has awarded $1,025,000 to 15 recipients including the two organizations who each received $50,000 at this year’s event.

• Children’s Resource & Referral received $50,000 to support its CRR Child Care Expansion and Steps to Licensing Program. This program will recruit, train and provide technical assistance and grants to family childcare providers, with an emphasis on low-income, under-represented women, in turn creating new jobs and available childcare spaces.
• Livingston Memorial Visiting Nurses Association received $50,000 to support its Grief & Bereavement Program and Latinx/Hispanic Capacity Building Program. The Grief & Bereavement Program provides counseling services and support groups to those dealing with grief and loss. The Latinx/Hispanic Capacity Building Program seeks to create lasting change in and provide equitable access to quality healthcare for Latinx/Hispanic adults in Ventura County by being more culturally responsive.

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. Today’s nonprofit leaders were joined by the Bank’s board of directors and leadership team, in addition to 121 MB&T associates who volunteer over 5,400 hours each year with many of the nonprofits in attendance.

A list of all 195 nonprofit organizations that received Montecito Bank & Trust Community Dividends is below.

2023 Community Dividends^® Recipient

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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 48th anniversary on March 17, 2023, and operates 13 branch offices in Santa Maria, Solvang, Goleta, Santa Barbara, Montecito, Carpinteria, Ventura, Camarillo and Westlake Village. Montecito Bank & Trust has a history of unwavering corporate philanthropy in the local communities it serves. 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 27 Best Bank awards in the last 11 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 fourth 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]