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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Jack in the Box Secures $800 Million Senior Credit Facility

Jack in the Box Inc. completed a new five-year $800 million senior credit facility made up of a $600 million revolving credit line and a $200 million term loan.

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Silvergate Bank Names D’Auria New Chief Banking Officer

Silvergate Bank has hired Dino D’Auria, a longtime San Diego commercial banker, as its chief banking officer and executive vice president.

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Construction Complete on New UCSD Biomedical Research Facility

Construction is complete for the new, $113 million University of California, San Diego Health Sciences Biomedical Research Facility.

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Carmel Mountain Ranch Office Building Sold for $7.75 Million

Lab-testing product and services provider Phamatech Inc. of San Diego, recorded as JT & TP Investment LLC, has purchased a Carmel Mountain Ranch office building for $7.75 million, according to CoStar Group and public data.

Unemployment Rate Remains at 7% for February

San Diego’s unemployment rate was 7 percent in February, equaling January’s rate, despite gaining 9,500 jobs during the month, indicating that more people are returning to the workforce.

Construction Complete on UCSD Biomedical Research Facility

Construction is complete for the new, $113 million University of California, San Diego Health Sciences Biomedical Research Facility.

Navy Federal Adds Branch Locations to Better Serve Members

Navy Federal Credit Union plans to expand its branches in San Diego County by three this year, despite proclaiming that an increasing number of its members use mobile banking. The three new branches — in Point Loma, Clairemont and Encinitas — would bring the total Navy Fed branches in the county to 21 and add about 26 employees to its regional work force of about 300, said June Sanchez, one of two regional managers for the county.

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Money Matchmaking

FINANCE: Small Businesses Look for Lenders Beyond the Bank

Banks are loosening up and approving more loans to small businesses these days, or so they say.

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BioMed Declares First Quarter Stock Dividend

San Diego-based BioMed Realty Trust Inc. (NYSE: BMR) has declared a first-quarter 2014 dividend of 25 cents per share of common stock, equivalent to $1 per share on an annualized basis.

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Mallinckrodt Completes Acquisition of Cadence Pharmaceuticals

Irish specialty drugmaker Mallinckrodt PLC has completed the $1.4 billion purchase of San Diego-based Cadence Pharmaceuticals Inc. The deal was announced initially in February.

Wells Fargo & Co. Gives $459,000 in Grants to Local Groups

Wells Fargo & Co., the nation’s largest mortgage lender, announced the awarding of grants to two San Diego nonprofits: Community Housing Works, a nonprofit focused on housing issues, for nearly $164,000; and National Community Renaissance, another nonprofit, for almost $295,000.

New Private Equity-Backed Company Ready to Acquire Life Sciences Firms

Former Gen-Probe executives Carl Hull and Eric Tardif have been tasked by a Chicago-based private equity firm to launch a life sciences company in San Diego aimed at acquiring other companies and with a few hundred million dollars at the ready.

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Escondido Retail Center Owners Get $5.7M in Refinancing

The owners of Home Depot Plaza, a 171,300-square-foot retail center in Escondido, have obtained $5.7 million in refinancing on the property.

Job Fair at Camp Pendleton Targets Military Spouses

More than 45 employers will be on hand to meet employment-seeking military spouses during a job fair and a pre-event networking reception next week at Marine Corps Base Camp Pendleton.

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U.S. Reps from San Diego Urge Increase in NIH Funding

U.S. Reps. Susan Davis and Scott Peters, both Democrats from San Diego, gathered with a group of the region’s medical research stakeholders to solicit Congress to increase funding for the National Institutes of Health, which funds much of the medical research taking place in this area.