DBRS: Pacific Capital unchanged with positive trend

DBRS said that following the 3Q11 earnings of Pacific Capital Bancorp, it continues to rate the company's issuer & senior debt at B (high) with a positive trend.

The company reported net income of $20.5 million for the quarter, down modestly from $21.0 million in the previous quarter, but up from $16.8 million in 1Q11, the agency said.

Importantly, four consecutive quarters of profitability have allowed Pacific Capital to build capital and make investments to enhance the franchise, DBRS noted.

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