San Diego Business Journal

SD FINANCE

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

Turtle Beach Corp. to Save $400,000 Annually With Loan Amendment

Turtle Beach Corp., a San Diego designer and marketer of audio products such as headsets used with video games, said it entered into an amendment of its loan agreement with the Bank of America that will result in the company saving about $400,000 annually.

AltheaDx Planning Potential $69 Million IPO

San Diego-based AltheaDx Inc., which uses diagnostic tests and bioinformatics to help doctors identify the personalized drugs based on a patient’s genetic make-up, plans to raise as much as $69 million in an initial public offering.

San Diego Private Bank Announces Completion of Acquisition

San Diego Private Bank announced Dec. 26 that it completed the acquisition of approximately $50 million in loans and the assumption of $8 million in deposits from First Security Business Bank. The deal was announced in October.

BofI Federal Bank Enters Into Purchase Agreement

BofI Federal Bank, San Diego’s second-largest commercial bank, said it entered into a purchase agreement with Union Federal Savings Bank, based in Rhode Island, and its parent company, First Marblehead Corp., for about $125 million of deposits.

Ben Alvarado Named Regional President of Wells Fargo's SoCal Region

Wells Fargo & Co. said it named Ben Alvarado as regional president of the bank’s Southern California region, serving customers in San Diego, Orange and Imperial counties.

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'Celebrity' Endorsement Boosts Isis Stock Price

Shares of Isis Pharmaceuticals Inc. soared to a record high the morning of December 19 following an endorsement by financial personality and former hedge fund manager Jim Cramer.

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25 Local Supermarkets Are Among 146 Being Acquired by Haggen

Pacific Northwest grocery chain Haggen Inc. is acquiring 146 stores in five states, including 25 in San Diego County, as part of a government-required divestment brought about by the pending merger of Safeway and Albertsons, announced earlier this year.

Dodd-Frank Change Not the Death Knell of Banking Reform

Wall Street banks got an early Christmas present from Washington, according to some headline writers earlier this month.

County Unemployment Rate Remains 5.8% in November

San Diego’s unemployment rate stayed flat in November from the prior month, at 5.8 percent, but well below the year-ago jobless rate of 7 percent, the state Employment Department said.

Grossmont's Devan Named to Catalyst Corporate Credit Union Board

Steven Devan, chief executive officer of Grossmont Schools Federal Credit Union, was named to the board of directors of Catalyst Corporate Credit Union, the Texas-based wholesale credit union serving 229 member credit unions in California.

TD Ameritrade Conference Features Big-Name Speakers

TD Ameritrade Institutional's national conference in San Diego next month features a couple of big-name speakers sure to enlighten and entertain the expected 3,000 attendees.

Imaging Technology Spurs Opportunities in Finance

Once a novelty, mobile banking is becoming an increasingly popular way to make deposits or withdraw cash from ATMs.

Small Credit Unions Continue to Provide Personal Service

Being small has its advantages, as a group of 11 San Diego credit unions operating with total assets below $100 million will tell you.

Low Gas Prices Don’t Pump Up All Profits

ECONOMY: Long-Term Deals Lock in Prices for Some Buyers

The recent spectacular decline in oil prices might make a casual observer assume that businesses and institutions that run fleets are all saving money.

Banking Industry is Back and in the Black and Growing Profits

The nation’s banking industry is apparently well back into the black, and making higher profits.