For the 23rd year and counting, Montecito Bank & Trust awarded local nonprofits grants to support their efforts to uplift the area’s most vulnerable residents.
“You and your teams are resourceful problem solvers; often the first to see a need and step up to meet it,” acknowledged Chairman and CEO Janet Garufis. “You respond to crises at hand, work to find long-term solutions and to help empower individuals and families so that they have the tools they need to not just survive but thrive. You feed the hungry, house the homeless and heal the hurting… You listen to your community, engaging with them to better understand their needs, collaborate with partners… and advocate for changes to enhance the quality of life for all segments of our community. THANK YOU!”
Montecito Bank & Trust’s Annual Community Dividends® Awards Luncheon, held last November at The Hilton Santa Barbara Beachside Resort, recognized 188 local nonprofits’ amazing work, distributing $1.2 million in awards to help support their programs. Since its launch in 2003, the Community Dividends program has invested more than $24 million in over 300 nonprofit organizations. In 2025, its total charitable giving exceeded $1.7 million, with funding directed toward organizations serving low- to moderate-income individuals and families across both counties.
Nonprofit executives, frontline staff and volunteers gathered alongside 68 Montecito Bank & Trust associates, the Bank’s executive leadership, Board of Directors and Emeritus Director Pete Jordano to celebrate the organizations. Throughout the year, Bank associates contributed more than 5,500 volunteer hours to many of the organizations represented.
In addition to awarding Community Dividends grants, the Bank chose two nonprofits to receive the Michael Towbes Community Impact Dividend, established in 2019 to honor the Bank’s founder. The annual award directs at least $100,000 to nonprofits delivering essential, sustainable services to large numbers of vulnerable residents.
This year, rising demand and a shifting funding environment made it difficult to prioritize a single area of need.
“Identifying one pillar where the need was clearly greatest—food insecurity, mental wellness, housing and healthcare—proved to be an impossible task,” Garufis said. Thus, the Bank opted to strengthen the community’s safety net by investing in two trusted local foundations: Santa Barbara Foundation and Ventura County Community Foundation. Each received $100,000 for emergency response funds, bringing the Impact Dividend total to $200,000.
This decision “demonstrates MB&T’s unwavering commitment to our ENTIRE community. Mike always hoped that our Philanthropy would ‘model the way’ for others in the community,” said Garufis. “We believe this is one of those moments where MB&T can make a powerful statement about the urgent need for support.”
Attendees also received a surprise treat from students at the Music Academy of the West’s SING! Program, who performed Shalom Chaverim, a Hebrew folk song, and Kuwa Furaha (Be Joy) by Jim Papoulis, drawing a standing ovation from the audience. The free afterschool program primarily serves students from Title I schools and is supported by Montecito Bank & Trust.
The event concluded with another unexpected nod commemorating the Bank’s 50th anniversary—five “golden tickets,” each representing a decade of service, were tucked into the Bank’s 2025 Community Impact Report distributed at the event. The nonprofits who discovered them received an additional $500 donation.
The afternoon demonstrated the importance of service and recognition as well as the mutual benefits that result when local institutions work with area nonprofits to invest in the well-being of the place we call home.
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