San Diego Business Journal

SD FINANCE

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

ResMed Inc.’s fourth quarter net income dipped slightly at $87.7 million, down from $90 million last quarter, but an overall increase of 20 percent over the same quarter last year.

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Altman Named Managing Partner at KPMG

Beth Altman has been named managing partner of accounting firm KPMG LLP’s San Diego office.

San Diego Private Bank Posts Solid Earnings Growth for Q2

San Diego Private Bank’s second quarter net income more than doubled from a year earlier at $594,000, while its total assets grew 8 percent to $339.5 million.

Phase 2 of Bay Cleanup Dredges Up Old Issues

BAY: Some Say Costs Increased By Foot-Dragging, Litigation

One of the more contentious environmental remediation projects in San Diego history — a cleanup of two sites in San Diego Bay — enters phase two this week.

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Excel Trust Reports Revenue Increase for Second Quarter

San Diego-based Excel Trust Inc. saw total revenue rise 14 percent from a year ago, reaching $30.6 million in its second quarter ending June 30.

Vibra Bank Reports Q2 Results

Vibra Bank, based in Chula Vista and a single office, reported a second quarter loss of $26,000, compared to net income of $61,000 for the like period of 2013.

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Portfolium Funding Is Part of EvoNexus' Recent Successes

EvoNexus, the incubator of CommNexus, the area’s nonprofit trade group for the high-tech industry, said one of its portfolio companies Portfolium recently closed a $900,000 seed round of investment from the Tech Coast Angels and other San Diego-based investors.

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'Mister A’s Building’ at Bankers Hill Gets New Owners

San Diego-based investment firm BBL Commercial Real Estate and Westbrook Partners of New York City have purchased the Fifth Avenue Financial Center in Bankers Hill, better known locally as “The Mister A’s Building,” BBL officials announced.

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Correlation Ventures Adds 8 New Portfolio Companies in Q2

Correlation Ventures, a San Diego venture capital firm that invests only with other venture firms and has deployed $166 million, said it added eight new portfolio companies during the second quarter of this year, bringing the total number of companies it’s funded to 88.

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San Diego Tech Coast Angels Invests $7.3M in First Half

The San Diego chapter of Tech Coast Angels said its investments in the first half of this year, $7.3 million, matched the total invested in all of 2013.

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La Jolla Pharmaceutical Co. Closes Common Stock Offering

La Jolla Pharmaceutical Co., a therapeutics company focused on unmet life-threatening diseases, announced the closing of its underwritten $56.6 million public offering.

Fitch Ratings Assigns ‘AAA’ Rating to Regional Transportation Sales Tax Revenue Bonds

Fitch Ratings has assigned an ‘AAA’ rating to the San Diego County Regional Transportation Commission’s $350 million sales tax revenue bonds, 2014 series A.

Local Lenders Making More – But Smaller – SBA Loans in 2014

Although San Diego lenders are generally making more loans backed by the U.S. Small Business Administration, loan amounts have declined for most of this fiscal year, according to the latest report from the SBA’s San Diego district office.

Firm’s Data in Demand With Big Financial Cos.

FINANCE: BrightScope’s Growth in Revenue, Clients Leads To Increase in Hiring

BrightScope, a San Diego startup that began rating company 401(k) plans, is still rating those plans and financial advisers, but it is now making more money from all the data it’s collected, and signing up bigger clients.

Fish Market to Lure Visitors to Waterfront

ECONOMY: It May Boost Commercial Fishing, Tourism

Local operators and government officials believe a fresh-seafood market debuting soon on the downtown San Diego waterfront could be a good first step toward restoring what was once a much more vibrant regional fishing economy.