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Pacific Capital Bancorp Provides 2002 Outlook.

Publication: Business Wire
Publication Date: 10-JAN-02
Format: Online
Delivery: Immediate Online Access

Article Excerpt
Business Editors

SANTA BARBARA, Calif.--(BUSINESS WIRE)--Jan. 10, 2002

Pacific Capital Bancorp (Nasdaq:SABB), a multi-community bank holding company with $4.0 billion in assets, today announced its financial guidance for 2002. The Company expects fully diluted earnings per share to range from $2.30 to $2.36 for 2002.

William S. Thomas, Jr., President & Chief Executive Officer of Pacific Capital Bancorp, commented on the outlook for the current year. "Working under the assumption that we will experience a relatively flat interest rate environment, we expect to return to solid earnings growth in 2002. We believe this growth will be driven by a continued steady stream of quality lending opportunities in all of our Central Coast markets, increasing fee income, and our commitment to maintain 2002 expenses at the same levels as...

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