SANTA BARBARA, Calif. – The Montecito Bank & Trust tradition of sharing $1-million in dividends with non-profits welcomed more than 190 organizations to the special luncheon today. The organizations came from throughout Santa Barbara and Ventura Counties. This is the 21st year for the event, created by the late bank founder Michael Towbes. It will especially help during these times of financial challenges. Many non-profits are reporting lower than normal contributions due to tight budgets, inflation and a poor recovery from the pandemic. A Michael Towbes Community Impact Dividend is also distributed as a special honor. This award is now in its fifth year, and $925,000 has been
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