Nightingale Named to Pacific Capital Bancorp Board of Directors.
SANTA BARBARA, Calif.--(BUSINESS WIRE)--April 25, 2000
The Board of Directors of Pacific Capital Bancorp (Nasdaq:SABB) today announced the appointment of Richard A. Nightingale to its Board of Directors.
Nightingale will also chair the Company's Audit Committee and will remain on the Board of Santa Barbara Bank & Trust, a position he assumed in 1998.
Nightingale, 52, Certified Public Accountant, is President & Chairman of the Board of Damitz, Brooks, Nightingale, Turner & Morriset, Certified Public Accountants and Consultants in Santa Barbara and Carpinteria. He also has an extensive trust and estate practice, and is a member of the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants.
He began his accounting career in 1971, joining the Santa Barbara office of the international accounting firm of Arthur Andersen, LLP, in 1973. A 1965 graduate of Santa Barbara High School, Nightingale attended Santa Barbara City College and graduated from California State Polytechnic University at San Luis Obispo with a degree in accounting in 1971.
Nightingale is also a member of the Board of Directors of United Way of Santa Barbara; and is a former board member of St. Francis Medical Center of Santa Barbara, the Montecito Retirement Association, Investors Research Fund, and the Santa Barbara Region Economic Community Project. He is past president of the La Cumbre Country Club, Rotary Club of Santa Barbara and the Goleta Boys and Girls Club.
"We are very pleased to bring Rick's substantial accounting and business background to our parent company board," said David W. Spainhour, who was named Chairman of the 12-member Pacific Capital Bancorp Board today. "Over the past two years, his professional expertise and involvement within the Santa Barbara business community have been of tremendous value to the board of Santa Barbara Bank & Trust, and we look forward to expanding his role to our broader holding company structure."
The Company also announced today that Harry B. Powell will retire from the Pacific Capital Bancorp board, but will remain on the Board of Directors of Santa Barbara Bank & Trust. Powell, a retired Carpinteria businessman and area resident since 1951, was named to the Bank board and to the board of Santa Barbara Bancorp in 1989. A Florida native, Powell attended Vanderbilt University and received his Bachelor of Arts degree in pharmacy from the University of Florida. He purchased the Rexall Drug Store in Carpinteria and subsequently expanded that business to include pharmacies in Isla Vista, Santa Barbara, Ojai, Simi Valley and Thousand Oaks. He is the past International President of the Rexall Association, a 15,000-member pharmacists' association. Following retirement from his business in 1984, he became a consultant.
"Harry has been a driving force on our board for many years," said Spainhour, "and we look forward to his continued active participation as a Santa Barbara Bank & Trust board member."
The Board today also announced the transition of K. Anthony "Tony" Guntermann, a founding member of the Santa Barbara Bank & Trust Board of Directors, to the status of Director Emeritus. Guntermann was among the original 18 Santa Barbara community leaders recruited in 1959 as Board Members by the three founders of Santa Barbara National Bank, Reuben J. Irvin, Louis Lancaster and Ralph C. Raddue. The Bank opened for business on March 18, 1960. For the next 38 years, in addition to his board responsibilities, Guntermann, a Certified Public Accountant, chaired the Bank's Audit Committee.
"Tony's service to Santa Barbara Bank & Trust is long and distinguished, and represents everything on which this Company was founded 40 years ago," said Spainhour. "He has helped lead our organization through more change, challenge and growth than any other individual still connected with our Company. We are grateful for his service and for the personal and professional friendship he has provided to us all over the years. And we expect that as an Emeritus Member of our Board of Directors, Tony will continue to share his invaluable guidance based on his many years of experience in the Santa Barbara business community."
Pacific Capital Bancorp, with $3.5 billion in assets, is the parent company of Santa Barbara Bank & Trust, First National Bank of Central California and its affiliate South Valley National Bank, a 37-branch California community bank network serving communities from Morgan Hill in the north to Camarillo in the south. During the first quarter of this year, Pacific Capital Bancorp announced acquisition agreements to acquire San Benito Bank, which operates offices in Hollister, San Juan Bautista, and Gilroy; and Los Robles Bancorp, parent company of Los Robles Bank, which operates banking offices in Thousand Oaks, Westlake Village, and Camarillo.
Last week, Pacific Capital Bancorp announced record net income of $19.8 million for the first quarter of 2000, up $5.3 million, or 36.5%, compared to earnings in the first quarter of 1999, the highest ever increase in quarter over quarter earnings in the Company's history.