San Diego Business Journal

SD FINANCE

Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...

San Diego Private Bank Posts Q4 Net Income of $734,000

San Diego Private Bank reported 2014 fourth-quarter net income of $734,000, compared to net income of $2 million for the like quarter of 2013.

By Mike Allen January 27, 2015 11:02 a.m.   Share

San Diego County Credit Union Assets Grew to $6.7 Billion in 2014

San Diego County Credit Union, the area’s largest credit union, grew by about $400 million last year to bring the total assets to about $6.7 billion.

BioNano Raises $68.5M In Financing

San Diego-based BioNano Genomics Inc., a genome-mapping device company, has raised $68.5 million in financing, according to a recent filing with the Securities and Exchange Commission.

Qualcomm Lowers Outlook Despite Gains

FINANCE: Company Defends Snapdragon Touting Its Many Users

Shares of Qualcomm Inc. fell more than 11 percent into the $62 range on Jan. 29 as the company reported record revenue and increased earnings for its first quarter — but cut its forecast for the second half of the year.

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Advice Isn’t Cheap With Wrong Advisor

FINANCE: Firm’s Database Aims to Inform Investors

Six years after its start, BrightScope, a San Diego software company focused on the financial services industry, is no longer just rating retirement plans.

Local Economy Forecast to Continue Growing Through End of 2015

An index measuring San Diego’s economy rose 1.3 percent in November, and another 0.8 percent in December, marking seven consecutive months of gains, and signaling continued growth at least through the end of this year.

BofI Holding Reports Record Q2 Net Income of $19.4 Million

BofI Holding Inc., parent company of BofI Federal Bank, the San Diego-based online lender, reported record fiscal 2015 second-quarter net income of $19.4 million, up 47 percent from the like quarter of fiscal 2014.

National Funding Expanding Business to Include Broker Services

National Funding, a San Diego private small business lender, said it expanded its business to include broker services to fund loans.

Vibra Bank Reports Q4 Net Income of $600,000

Chula Vista-based Vibra Bank reported 2014 fourth-quarter net income of $600,000, compared to $44,000 for the like quarter of 2013.

President Paints Tax Target On Big Banks, Financial Firms

Among the new proposals touted last week by President Obama to boost the nation’s middle class were free tuition for community colleges, expanding paid sick leave, and giving working families tax breaks.

Tax Credits Keep Companies in State

FINANCE: It Pays to Stay For 8 Local Businesses

Looking to expand but not thrilled with the business climate in California, Santee-based Quality Controlled Manufacturing Inc. was considering relocating to another state a few years ago.

Rojeck Assumes Chair Role for Certified Financial Planner Board of Standards

San Diegan Richard Rojeck has begun his role as Chair of the Board of Directors for Certified Financial Planner Board of Standards Inc., a nonprofit organization that certifies more than 71,000 professionals as Certified Financial Planners.

City National Bank to be Acquired for $5.4 Billion

City National Bank, based in Los Angeles and with seven offices in San Diego, said it signed a definitive agreement to be acquired by Royal Bank of Canada in a stock and cash deal valued at $5.4 billion.

Solana Beach Investment Firm Promotes Three Top Staffers

Gurtin Fixed Income Management LLC, a Solana Beach-based investment firm specializing in municipal bonds, promoted several top staffers as it grows its team.

Silvergate Capital Obtains $8 Million Stock Investment

Silvergate Capital Corp., parent company to San Diego-based Silvergate Bank, obtained $8 million in a stock investment from BankCap Partners, a Dallas-based private equity firm, at the end of last year, providing funds for expanding and for repurchasing existing stock, said CEO Alan Lane.