[Laughs.]. He was president of the Santa Barbara Foundation and served on the board of Cottage Hospital for 27 years, including five years as its chair. All rights reserved. The Giving List 2023. One of my favorite expressions is go with the flow. 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. Shortly after his wedding, Mike was transferred to the Bureau of Yards and Docks in Washington DC, where he completed his Navy Career in 1955. He learned from a friend that Gail loved the ballet. As if to prove his point, Towbes last year participated in ribbon-cuttings for the 272-unit Hancock Terrace Apartments in Santa Maria, a $65 million residence hall for the Kavli Institute of Theoretical Physics at UC Santa Barbara, and the final phase of the Willow Springs apartment complex in Goleta. Whoops! "Michael was a developer, banker, and philanthropist who taught me so much about philanthropy," she says. Donor Profiles, Art Scholarship Reception Michael Towbes was a once-in-a-lifetime community leader, explained Candace Winkler, president and CEO of the Scholarship Foundation. It is important to attract top-notch graduate students. He started his professional career working with Michael Towbes, which led to the founding and operating of two real estate films, Martin Farrell Homes, Inc., a residential development company, and M3 Multifamily, LLC, a company that operates and manages apartment communities. A public memorial service will be held at The Granada Theatre, 1214 State St. in Santa Barbara, at 2 p.m. May 23. The above photograph was taken intheir home in Manhattan, New York. Mike was surrounded by his family at the time of his death following a short but valiant battle with pancreatic cancer. Please logout and login again. 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. The Towbes family willplace canvases at all of the banks branches, to allow the public to write notes, condolences orshare their thoughts on him. Their first date was at the San Ysidro Ranch on Christmas Eve and it was love at first sight. In 1980, Mike and Gail started the Towbes Foundation, dedicated to meeting the diverse needs of local nonprofits. A notable impact maker, Michael Towbes, exemplifies the Santa Barbara spirit by giving back across all dimensions. Mr. Towbes commitment to higher education and long-standing support of the Scholarship Foundation were unparalleled. He attended Roosevelt High School and went on to obtain his B.S.E. Other nonprofit boards on which he has served include the Santa Barbara Center for the Performing Arts, the UCSB Economic Forecast Project, the Housing Trust Fund of Santa Barbara, the UCSB Foundation, the Foundation for Santa Barbara City College, Lotusland, and the local chapter of the National Multiple Sclerosis Society, to name just a few. He was 87. He served on many local boards, including a 27-year tenure with Cottage Hospital, and was named Santa Barbara's Man of the Year in 1994 and Donor of the Year in 2010. The banks South County branches have placed canvases in their lobbies for customers remembrances, bank spokesperson Megan Orloff said. Submitted by our reader Garret in his Santa Barbara community 1929 the oldest of! I also created candy poppers (cardboard tubes filled with hard candy) and delivered them to children in hospitals every Christmas during my high school years, Towbes recalls. We said, We dont need TARP, were doing fine without. It benefited us not to have taken the money. michael towbes net worth. In 1956, he started his first company in Los Angeles with his friend and mentor, Eli Luria. Keep up with Noozhawk's daily news coverage, delivered at 4:15 a.m. right to your inbox. Montecito Bank & Trust, Owner and Chairman, Michael Towbes; Philanthropist, Anne Towbes; and Montecito Bank & Trust, President & CEO, Janet Garufis. He showed me how to focus on, identify, and support organizations having clear missions, goals, and programs that effect change and add to the soul of the community., Among other things, Towbes says, Michael advised her to give to organizations that speak to her heart in her case, those that helped foster the pursuit and appreciation of music, the performing and visual arts, education, animals, architecture, and mental health. Well, I have a couple of scholarship programs. Interviews 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. He was the most thoughtful, generous person I have ever known., At the same time, Towbes says, her husband was strategic and clear-eyed with his funds. Michael Towbes is also the Chairman and owner of Montecito Bancorp, which owns Montecito Bank & Trust, with assets of $1.2 billion. At the bank wehave what we call. One of the interesting things is that I learn about organizations Ive never heard of. Net Worth: $1 Million. Probably the person who had the greatest impact wasEli Luria. He doesn't disclose much about his life. Towbes died at age 87 today. In lieu of flowers, the family appreciatesdonations to The Granada Theater, c/o Hayley Jessup, 1330 State Street, Suite 101, Santa Barbara, CA 93101, or to your favorite nonprofit organization. Im the sole shareholder of the bank and Ive always been interested in expanding what the bank does for the community. Alumni Stories, Advising 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. posted by: 19th December 2020. After suffering though a DC summer and winter, Gail convinced Mike to make their home in California. Hector Pagan is a former associate of the Bonnano Crime Family who would become an informant. Born and raised in Washington, D.C., Mike graduated with a bachelor of science degree in civil engineering from Princeton University and attended graduate school in structural engineering at MIT. [Laughs.] . The foundation supports numerous local community, cultural, and educational organizations. More Expectation Meaning In Tamil, The child of a family dedicated to public service including an architect uncle who helped design parts of the Motor Citys skyline such as the nations first Ford automobile plant says she learned early on the value of volunteering. He was one of the driving forces behind the renovation of Santa Barbaras Granada Theatre and served on many boards, including the Cottage Hospital Foundation, University of California, Santa Barbara Trustees and the Foundation for Santa Barbara City College. I tend not to give up. Whether you were a bank customer, home buyer, renter, or a member of the arts, education, and medical community he supported through his philanthropy, Michael Towbes affected many lives in Santa Barbara. I have two students that have done very well that I have supported through my scholarships at the. 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. Targeting cookies allow us to share content and information with you that is most relevant to your interests based on how you have used our website previously. 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. He makes the most of every moment in every day. Community Dividends is its largest philanthropic vehicle; its total annual giving amounts to $1.5 million. Towbes explains why he doesn't give anonymously, shares his advice for entrepreneurs, and speaks about one of the people who have left an imprint on his professional DNA. Mr. Towbes spent time with his scholarship recipients and often provided guidance and mentoring for many years after they finished college. 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. The content preferences of our users the U.S Torontow 's net worth ( )! And giving back that began early in his career mike leaves an amazing legacy of that. Born on October 23, 1942, Michael Crichton is an American author who amassed a net worth of $175 million before his death on November 4, 2008. Brad Willis and Tony Pusathai. Jose Aldo Speranza Scappuccistarted out as a vocal accompanist; she has become one of the few women conductors in the world. Carrie will also focus much of her time and efforts on the philanthropic efforts, including The Towbes Foundation., Zimmerman said that Towbes is thrilled that Garufis will continue his legacy., The bank has been in a trust for many years, Zimmerman said. Federal Tax I.D. 12 reviews of Montecito Bank & Trust "I feel very secure using this bank. Give me a specific example or something he said that still stays with you today. May we all be as honorable, as humble and as kind. Save my name, email, and website in this browser for the next time I comment. We all talk about the value of education. They are important to help the faculty with all the projects they do. Zimmerman said the development group will remain independent. Make a website usable by enabling basic functions like page navigation and access to secure of. Pam and Terrance Valeski. Through his own Towbes Foundation, he provided additional crucial support to arts, education and medical research organizations. as of 3/1/23 . 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. It will serve to remind future generations about his incredibly generous spirit., Towbes also considers herself lucky to be able to sponsor her own donor-advised fund at the Santa Barbara Foundation, which gives her more direct control over her own philanthropy. Towbes died at age 87 today. He was always most proud of Montecito Bank & Trusts role as a leader in local corporate philanthropy, giving more than $1.3 million annually to area nonprofits through the Community Dividends program, Anniversary Grants, and nonprofit sponsorships, focusing primarily on organizations whose missions support the arts, youth and education, social welfare and medical and health services sectors. Subscribe Joshua Molina How Many Chicken Fights In Family Guy, Each owns other works by Demetrios. Where does all this come from? S leadership, the 54-year Santa Barbara philanthropists Foundation focuses on a broad range of organizations social! (Santa Barbara Center for the Performing Arts photo). 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