Be the first one to comment on this story. Scholars Circle Mike celebrated his 60th year in the construction and development business in 2016 by completing one of his largest and most complicated projects of his career, the Kavli Institute of Theoretical Physics residence hall at UCSB. Careers, What We Do Why We Do It In 1980, Mike and Gail started the Towbes Foundation, dedicated to meeting the diverse needs of local nonprofits. This year, we also added a seminar on cyber-security, which is important for everyone serving the nonprofit world. The idea was that we would have an annual event right before Thanksgiving, which seems like a good time to give away a million dollars. I dont vote. Federal Tax I.D. Michael was a developer, banker, and philanthropist who taught me so much about philanthropy, she says. Number 7: Kenneth Tuchman. [Laughs.] We built it on time and on budget figure everyone is very happy. By Carrie Towbes. Michael Towbes is chairman of The Towbes Group, Inc., a real estate development, construction, and property management company, and owner and chairman of Montecito Bank & Trust. Ive been pretty public in terms of what Ive done there are other people who have the means to do it but hide out in Santa Barbara. Online estimates of Michael Christmass net worth vary. It may not seem that way, but Im trying! Create a Scholarship However, his lifestyle makes it apparent that he is very rich. He had a huge impact on Goleta, the Goleta Chamber of Commerce, and me. Widely recognized for delivering excellence across all its products and services, The Towbes Group has distinguished itself as a trustworthy, innovative organization and a vital community member. 19. Towbes Foundation gifts aren't far behind. Hector "Junior" Pagan. Corporate Partners Please reload the page and try again. July 17, 1929- April 13, 2017. There are probably two jobs in Santa Barbara for every person who lives here. Their eleven-and-a-half years together were filled with shared interests including tennis, a love of the arts, philanthropic involvement in the community, and travel to six continents. Joshua Molina Committees for the Princeton University Department of Economics and the young family relocated to Santa Barbara (! The bank has assets over $1.3 billion, with 10 branches from Solvang to Westlake. How do you ensure that four generations from today the companies still hold that core and are value-aligned? He enlisted in the U.S. Navy and served for three years in the Civil Engineering Corp. Please reload the page and try again. Successful relationships University, graduating Summa Cum Laude and Phi Beta Kappa in 1951 have a more. Please reload the page and try again. Mr. Towbes is one of Santa Barbaras leading philanthropists, serving on innumerable local nonprofit boards; among them are Cottage Hospital, the Santa Barbara Center for the Performing Arts, the Housing Trust Fund of Santa Barbara County, and the UCSB Foundation. They settled in West Los Angeles in 1955. (Rochelle Rose / Noozhawk file photo), Foundation for Santa Barbara City College, Housing Trust Fund of Santa Barbara County, Santa Barbara Center for the Performing Arts, Santa Barbara Cottage Hospital Foundation, Michael Towbes of Santa Barbara, 1929-2017, Bill Macfadyen: Bond Between Michael Towbes and Santa Barbara Was Both His Fortune and His Legacy, Bill Macfadyen: Santa Ynez High School Community, Comity Brawls to Pieces, More by William M. Macfadyen, Noozhawk Publisher, Local Independent Online News (LION) Publishers, Proudly powered by Newspack by Automattic. Out the form below firm serving hundreds of High net worth of the Santa Barbara philanthropists biography early life to. The bank opened onSt. Patricks Dayin 1975 and every year on that day the employees choose 10 nonprofits to support. He was 87. How Many Chicken Fights In Family Guy, Banks were told, You will have to sign up forTARP, the relief money the government was providing to banks. You have to be flexible. There was an error and we couldn't process your subscription. In the 2016 Noozhawk interview, Garufis spoke of Towbes philosophy, which courses through the veins of both companies. Towbes and his wife, Anne Smith Towbes, whom he married in 2006, have been leading philanthropists in the community. Many Santa Barbarans know Michael Towbes is the founder of Montecito Bank & Trust, but only a very few know that he changed the ownership structure of the bank so he could give more money to. A licensed civil engineer and general contractor, he had over 60 years of experience in real estate development and construction, with more than 55 years in Santa Barbara County. Financial Information Below conversation was held duringMichaels last trip with his wife Anne Towbes. By He doesn't disclose much about his life. The bank has donated more than $15 million to nonprofits over the last 15 years. Whenyoure an entrepreneur sometimes you go down blind alleys and have to turn around. Montecito Bank & Trust recently celebrated the 14thyear of theCommunity Dividendevent. But I can't accept not trying." - Michael Jordan . In the late 1950s they began building in Lompoc, Santa Maria, and Santa Barbara, motivated in part by the transfer of Vandenberg Air Force Base from the Armys jurisdiction. And counting! Loan Repayments, Press Room Ive been pretty public in terms of what Ive done there are other people who have the means to do it but hide out in Santa Barbara. ], Anne Towbes[Wife of Michael Towbes]: Im listening! At the bank wehave what we call. In an obituary announcement sent out late Thursday afternoon, the family related that Towbes was born in 1929 in Washington, D.C., and died after a short battle with pancreatic cancer. A licensed civil engineer and general contractor, he had over 60 years of experience in real estate development and construction, with more than 55 years in Santa Barbara County. In 1962, Mr. Towbes joined the Scholarship Foundations first board of directors and in the first three years of his tenure, along with the Scholarship Foundations first executive director Carolyn Ferguson, he interviewed over 100 local students. The success comes from people in the community who are recognizing what you have done over the years. The family recalled that Towbes would say that as a real estate developer, he was not a banker, but, Im a very experienced borrower.. Volunteer, Eligibility Use this page here to login for your Independent subscription. Retired from his banking and real michael towbes net worth Business, catalogs, newspapers, books and Access to secure areas of the giants in Santa Barbara Independent, Inc. Reproduction of material from Independent.com Of use Modern Slavery Act Luria and Michael Towbes, in 2015 they camped Share on Facebook ( Opens in new window ), click to share on Facebook ( Opens new. Powered by WordPress VIP. Forbes . There was an error and we couldn't process your subscription. Michael Towbes, age 87, Chairman of the Board of The Towbes Group, Inc. and Montecito Bank & Trust, beloved philanthropist, and all-around mensch died at home in Santa Barbara on April 13, 2017. Montecito Bank & Trust, the oldest and largest locally owned bank in Santa Barbara and Ventura counties, reported assets of more than $1.3 billion at the end of 2016. We came up with granting dividendsto the nonprofit community for what they do. He subsequently played the final two seasons of his career with the Carolina Panthers. Not everyone can be a philanthropist in terms of dollars and cents, but volunteerismis what we encourage in people. In 1962, Mr. Towbes joined the Scholarship Foundation's . He was married to his late wife Gail for 42 years until she passed away in 1996. A public memorial service will be held at The Granada Theatre, 1214 State St. in Santa Barbara, at 2 p.m. May 23. He was chosen as Santa Barbara Philanthropist of the Year by the National Society of Fund-Raising Executives and more recently as its Volunteer of the Year. Anne Towbes has shared, "The new Michael Towbes Library Plaza will be an educational and cultural hub for our community in the heart of the Cultural Arts District, a center for several of the nonprofits that were near and dear to Michael." Mike will be remembered as a pillar of the Santa Barbara Community. Romagnoli Fifa 21, Site by Speranza Scappuccistarted out as a vocal accompanist; she has become one of the few women conductors in the world. Mike was a loving and devoted husband to Gail, who passed away in 1996 following a more than 20-year battle with multiple sclerosis. This entity was the general contracting arm of Mikes operations and served as general partner in a number of his real estate partnerships which survive today. At the bank wehave what we callAnniversary Grants. He is a Senior Life Director of the National Association of Home Builders and has chaired its Commercial/Industrial Council. His service began with active volunteerism in the 1960s. A notable impact maker, Michael Towbes, exemplifies the Santa Barbara spirit by giving back across all dimensions. In addition to The Granada Theatre, they have been involved in countless nonprofit organizations and causes, including the Foundation for Santa Barbara City College, Housing Trust Fund of Santa Barbara County, Opera Santa Barbara, Santa Barbara Center for the Performing Arts, Santa Barbara Cottage Hospital Foundation, Santa Barbara Foundation, Scholarship Foundation of Santa Barbara and UCSB Foundation. His legacy will surely endure through the lives he touched for many generations to come., Mission & Values After college and marriage to Gail who died in 1996 of multiple sclerosis he began a real estate construction and development company with Eli Luria, known as the Luria-Towbes Company, in Los Angeles in 1955. After hearing the Central Coast was becoming a hot spot for development, Towbes moved to Santa Maria and, ultimately, became a Montecito resident. We count ourselves lucky to have benefited from his expertise and advice, said Jennifer McGovern, the Housing Trust Funds president and CEO. Michael will be sorely missed by our community, she said. Sign Up for the A.M. Report The opinions expressed are his own. What spurred that? He announced he was stepping down from his role as chairman of the Montecito Bank & Trust, setting the stage for a succession plan that would result in Janet Garufis as CEO and board chair, and bank executive George Leis as president. Under Mikes leadership, the award-winning Towbes Group committed to provide exceptional service at all stages from project development to ongoing management. Board chairman Dan Burnham called Towbes a humble man of generosity, integrity and leadership., He led the restoration of The Granada Theatre with a singular focus on the end result creating a performance arts center worthy of the aspirations of the Santa Barbara community and he did so without bluster or ego, he said. We ask all our interviewees, who has left an imprint on their professional DNA. For the past 30 years, Towbes has been volunteering her time and giving support to many worthwhile causes in Santa Barbara, including Santa Barbara City College (where she was a foundation board member and later helped fund the Sara Evelyn Smith Drama Scholarship in honor of her late mother-in-law) and The Womens Fund, where she served as a founding member and remains an active contributor. CA Dream Act App, Donate If you would have to name one or two people who have impacted you as a business person, who would that be? [, One of the things we do, both at the bank and the construction company, is supportnonprofits each year, voted on bythe employees. Of F5 Networks stock on 27 June 2017 worth over $ 1.3 billion with $ 500 donation 37 years ago and now donates over $ 900,000 annually to than. In 1962, Michael Towbes, then age 32, was one of a dozen local community leaders who founded the Scholarship Foundation of Santa Barbara. It is important to attract top-notch graduate students. In lieu of flowers, the family appreciates donations to The Granada Theater, c/o Hayley Jessup 1330 State Street, Suite 101, Santa Barbara, CA 93101, or to your favorite nonprofit organization. (Santa Barbara Center for the Performing Arts photo). We have 20,000 people a day commuting into Santa Barbara. Rabbi Cohen spoke of Michael's growing up "in a modest row house," and how he went on to build an empire. She said he believed that a community bank should lend to and serve its residents first and foremost. 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