SD FINANCE
Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...California Bank & Trust Reports Positive First Quarter Results
Finance ColumnCalifornia Bank & Trust, San Diego’s largest locally based bank with about $11 billion in assets, reported a slightly better first quarter, netting $31.9 million, up from $29.7 million in net income in the same quarter a year earlier. May 13, 2013 midnight $$ ShareBofI Federal Bank Launches Health Care Finance Unit
Finance Column
BofI Holding Inc., parent of BofI Federal Bank, continues getting larger as it expands its repertoire of loan offerings.
Looking Beyond the Books
ACCOUNTING: Forensic Accountants Pursue Financial Facts With Variety of Skills
Sifting through mountains of financial records to figure out the net worth of a person may not sound glamorous, but it’s the stuff that gets forensic accountants excited.
Accounting and Finance Jobs in Demand as Economy Rebounds
FINANCE: Hiring Is Across the Board, Salaries on the Rise
Always in fairly high demand, workers with accounting and finance experience are finding increased job opportunities as companies gradually expand operations, and competition for top talent ratchets up.
Executive Profile: Matthew Garrett
CEO Matt Garrett founded TGG Accounting to improve the national small business success rate. Through a set of best practices — known as The TGG Way — his firm provides business owners and their management teams with high quality, timely and accurate financial statements that help them keep their companies in order, make better decisions and sleep better. A national Vistage speaker, Garrett built and sold two startups before he was 35.
Jack in the Box Plays Charity Golf for Big Brothers Big Sisters
Kudos/Giving Column
The Jack in the Box Foundation donated $325,000 to Big Brothers Big Sisters. The funds were raised at 23rd annual Jack in the Box Charity Golf Tournament held in April. More than 350 Jack in the Box employees and vendors attended the tournament held at the Hyatt Regency Indian Wells Resort & Spa.
Seacoast Commerce’s Strategy Grows Assets and Deposits
Finance Column
Good borrowers may be tougher to find, but it’s much easier if you’ve got a sizable loan production network. That appears to be the case at Seacoast Commerce Bank based in Rancho Bernardo, which operates a dozen loan production offices outside the county where it has two branches. Besides five branches in California, it also has sites in Arizona, Nevada, Texas, Utah and Washington.
Transforming the Transactions
BANKING: Branch Banking Adapts to Technology Advances
Despite a quantum shift by more consumers doing their banking via the Internet and ATMs, most banks say they have no plans to eliminate their retail branch networks.
Executive Profile: Nikki Atkins Hartung
Nikki Hartung is senior vice president and market manager for Chase Consumer and Business Banking in San Diego. She has worked for JPMorgan Chase & Co. for 19 years, after joining the company in a management development program
Local Small Business Lender Generates Opportunity and Jobs
FINANCE: The CDC Has Loaned Nearly $4B In Its 35 Years
Now in its 35th year, small business lender San Diego-based CDC Small Business Finance can take some pride in the legacy it’s created.
Institute Gives Beysters a Place of Honor for Their Support
Kudos/Giving Column
J. Robert Beyster and Betty J. Beyster will donate approximately $2.5 million to the J. Craig Venter Institute. The funds will be used to support the completion of the J. Craig Venter Institute sustainable laboratory that is currently under construction at UC San Diego.
DexCom Inc. Reports Revenue of $27.8M for Q1
Revenue for San Diego diabetes testing equipment maker DexCom Inc. rose to $27.8 million for the first quarter of 2013.
Leap Wireless Reports Net Loss of $111.3M for Q1
Leap Wireless International Inc., the San Diego flat-rate wireless carrier that does business under the Cricket brand, reported a first quarter net loss attributed to common shareholders of $111.3 million compared with a net loss of $98.4 million in the like quarter of 2012.
VC Firm Announces Final Close of Fund
SDBJ Insider
Terry Moore, founder and principal of local boutique venture capital firm Moore Venture Partners recently announced the final close of MVP, a $10 million fund. Moore also said he’s already closed his fifth deal from the fund, an investment in Savara Pharmaceuticals, located in Austin, Texas.
Gift of $3M Made to Salk Institute in Honor of Francis Crick
Kudos/Giving Column
Michael Crick, the son of the late Nobel laureate and Salk faculty member, Francis Crick, will donate approximately $3 million to the Salk Institute for Biological Studies. The funds come from the sale of a letter that Francis Crick wrote to his then-young son Michael describing his discovery of the double-helical structure of DNA.
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