Montecito Bank & Trust, which has a branch in Solvang, said in its third-quarter report that net income grew 11.52 percent year-over-year to $12.2 million.
Bank officials said that increase was driven by strong loan growth of 16 percent during the same period, from $127 million to $924 million.
Deposits also grew by $35 million, or 3 percent, year-over-year, and assets grew 3.64 percent, from $1.3 billion to $1.35 billion, during the same period, according to the report.
A bank spokeswoman said total capital remains very strong at 12.7 percent, exceeding the 10-percent regulatory minimum required to be considered well-capitalized.
Founded in 1975, Montecito Bank & Trust is the oldest and largest locally owned community bank in Santa Barbara and Ventura counties and, including the Solvang branch, operates 10 branch offices.