On March 15, Montecito Bank & Trust (MB&T) celebrated its 43rd anniversary at its main office in its customary and generous way: by giving away money to area nonprofits. During its annual Anniversary Grants celebration, 10 nonprofits chosen by bank associates each received a $2,000 grant from the bank and a promotional video produced by Cox Communications.
After a reception, Chair and CEO Janet Garufis warmly welcomed the more than 100 guests and explained how in 1993, MB&T founder and chairman Michael Towbes “created Anniversary Grants to celebrate the philanthropic work of our associates and the communities that we serve” and to give each associate “a voice in the direction of the bank’s corporate giving.” She related how this day is one that she and the associates treasure, because giving back is “in the DNA of the organization.” Garufis made references to the beloved Towbes, which elicited significant emotion from the audience. “We miss him every day but we are committed to his mission of making the communities we serve better places to live and work.”
She explained how MB&T’s support for the community has traditionally been through philanthropy, but in the recent disasters, the bank has also been a community resource by making emergency loans for rebuilding and for meeting payroll, as well as by delivering water, donuts, and N-95 masks. She also noted that two of the grant recipients were on the scene, the National Disaster Search Dog Foundation and Santa Barbara County Search and Rescue.