SD FINANCERecent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...
FINANCE: Biotechs Still Eyeing IPOs; VC Backing Is Strong in 2nd Quarter
Venture capital investment in the biotechnology sector of San Diego continues to climb despite the industry’s reputation of being volatile and risky.
INSURANCE: Plan Provides Primary Care In Mexico for Workers
A Chula Vista-based company is bringing a new offering to the table providing cross-border health options for people living and working on both sides of the U.S.-Mexico border.
Accion San Diego, the local microfinance lender that makes loans from $300 to $75,000, recently received the largest grant in its 20-year history when the U.S. Treasury Department gave it $880,000.
FINANCE: Mike Krenn Sees Opportunities, Expects More Investment Activity
The San Diego Venture Group named Mike Krenn, a longtime business-development professional, as its new full-time president.
Sorrento Valley-based Achates Power Inc. told U.S. securities regulators in a Sept. 5 filing that it was issuing $21.2 million in stock.
Shares of Pulse Electronics Corp., a San Diego manufacturer of electronic components in China, skyrocketed 53 percent on Sept. 9 to $3.10 before falling back to $2.50 as of mid-day Sept. 10.
The San Diego Quick Pitch Competition, now in its eighth year and renamed the John G. Watson Quick Pitch Competition, announced its field of 10 finalist startups.
FINANCE: Low Rates On Loans, Higher Rates On Savings Draw Crowd
Credit unions continue to gain converts and recently surpassed the 100 million mark in membership, according to the Credit Union National Association, the trade group representing nearly 7,000 credit unions.
Now in its fifth year, the Dodd-Frank banking reform law has had a profound effect on every bank, but smaller community banks say they’re feeling the impact from the added regulations far more than larger banks.
FINANCE: Sale Brings In $54M Above the Face Value
A yield-hungry market recently gobbled up $350 million in bonds issued by the San Diego Association of Governments that pays an average of 3.85 percent over the 34 years the debt will be in place.
Escondido-based Realty Income Corp. has appointed Sumit Roy to the post of chief operating officer, effective Oct. 1.
WD-40 Co., the San Diego based maker of lubricants and other household products, said it completed the acquisition of the business and assets of GT85 Ltd., a United Kingdom based company that sells multipurpose maintenance products.
Succession Capital Inc., a San Diego based private equity firm, said it acquired Sienna Sky Jewelry, a maker and distributor of fashion jewelry based in Longmont, Col. for an undisclosed price.
OneAmerica Financial Partners Inc., an Indianapolis-based insurance company, said it completed the acquisition of City National Bank’s’ retirement services record keeping unit in San Diego.