Harrington West Financial Group, Inc. · Solvang, CA United States · (OTC: HWFG)
Company Description
Phone: 805-688-6644
Fax: 805-688-4959
Toll Free: 800-525-4959
More Companies in: Solvang, California
More Companies in These Related Industries: Community Banks
View Harrington West Financial Group, Inc. Locations On A US Map
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This link will open in a new window This is not your father's bank. It's Los Padres Bank, the flagship subsidiary of Harrington West Financial Group. Los Padres has about a dozen branches along California's central coast between San Francisco and Los Angeles, as well as the Phoenix metropolitan area. The bank serves individuals and small businesses, offering standard services such as deposit products and loans. Commercial mortgages make up about a third of its portfolio; business loans, residential mortgages, and construction loans each comprise about 15%. Los Padre Bank's Harrington Wealth Management unit provides trust and investment services. In 2009 Harrington West Financial sold its Kansas-based Harrington Bank subsidiary to Arvest Bank . To read the full description, subscribe now.
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Harrington West Financial Group, Inc. Reports
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Key Harrington West Financial Group, Inc. Financials
| Company Type | Public - OTC: HWFG Headquarters |
| Fiscal Year-End | December |
| 2008 Employees | 195 |
Harrington West Financial Group, Inc. Executives
39 executives listed for Harrington West Financial Group, Inc.'s Solvang, CA location.
| Title | Name & Bio | Contact |
| Chairman and CEO; Chairman, and CEO, Los Padres Bank | Craig Cerny | |
| President and Director; President and COO, Los Padres Bank | William Phillips | |
| SVP and CFO, Harrington West Financial and Los Padres Bank | Kerril Steele |
Competition
Competitive Landscape for Harrington West Financial Group, Inc.
Demand for banking services is closely tied to economic activity and the level of interest rates. The profitability of individual banks depends on marketing skills, efficient operations, and good risk management. Large economies of scale exist in some segments of the industry, which has encouraged industry consolidation. Smaller banks can compete successfully in segments where customer service or knowledge of the local market is more important. The industry is capital-intensive and highly automated: annual revenue per employee is close to $300,000. Many banks and thrifts aggressively offered adjustable rate and subprime mortgages during the housing boom of the early 2000s only to find themselves saddled with loan defaults and extensive losses when the housing bubble burst. Deep exposure to subprime mortgages and mortgage-backed securities caused bank failures, government takeovers, and involuntary mergers. To read the full description, subscribe now.Top Harrington West Financial Group, Inc. Competitors
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