SD FINANCERecent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...
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 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.
Seacoast Commerce Banc Holdings, the parent company for Seacoast Commerce Bank, reported 2014 fourth-quarter net income of $830,000, compared to net income of $251,000 for the same quarter in 2013.
One Roof Energy Group Inc., a San Diego provider of solar energy financing services, said investors in a planned $15 million convertible notes financing include existing investors Black Coral Capital and Spindrift Equities LLC as well as certain other unaffiliated investors.
FINANCE: Auto Lending Up 44% At Local Institutions
Credit unions are benefiting from a national trend of consumers replacing their aging vehicles and borrowing money at historically low interest rates.
Local Credit Unions See Growing Market For Mortgage, Home Equity Lending
Once known primarily for making auto loans, more credit unions are expanding their mortgage lending, taking up some of the slack created from banks exiting the business.
Like a lot of businesses, North Island Credit Union (NICU) has been through some difficult times.
Canter Cos., a San Diego full-service investment and real estate firm founded in 2007, launched a new division, Canter Strategic Wealth Management, which aims to bridge the gap between real estate services and investment opportunities.
Chicago-based LaSalle Investment Management has joined the development venture working on the previously announced, $90 million IDEA1 mixed-use development in downtown San Diego’s East Village.
San Diego-based TVC Capital, a software-focused growth equity firm, announced the closing of TVC Capital III with $115 million in capital commitments.
San Diego-based Barney & Barney Insurance Services LLC, a division of Marsh & McLennan Agency LLC, named Steven Berk its new chief financial officer.
Guild Mortgage Co., the San Diego private mortgage bank, said it opened an operations center in Reno, Nev.
Encore Capital Group Inc., the San Diego buyer and collector of charged off credit card debt, agreed to a settlement with the New York State Attorney General’s office over allegations of using improper debt collection methods against thousands of New York consumers, the office said.
At the end of last month, Seacoast Commerce Bank in Rancho Bernardo put out a release trumpeting the fact that it received a 5-star, Superior rating, the highest possible, from Bauer Financial Inc., a nationally recognized bank-rating firm that many consumers use to determine the safety and strength of a bank.
ECONOMY: Experts See Competition for Workers
A recurring theme at the San Diego Business Journal’s 2015 Economic Trends Event centered on a refreshingly direct result of expanding national and regional economies — hiring and keeping the region’s abundance of top talent.