San Diego Business Journal

SD FINANCE

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

BofI Holding Inc. Makes Fortune Inc.'s List of Fastest-Growing Cos.

San Diego-based BofI Holding, Inc. (Nasdaq: BOFI), parent company of BofI Federal Bank, announced that it made Fortune Inc.’s list of the Fastest-Growing Companies for 2015.

Region Gained 6,000 Construction Jobs in Year Ending November 2015

The San Diego-Carlsbad metropolitan area gained 6,000 construction jobs from November 2014 to November 2015, according to an analysis of federal employment data from the Associated General Contractors of America, an industry trade group.

BofI Federal Bank Approved Issuer for Ginnie Mae

BofI Federal Bank on Friday said it is an approved issuer for the Government National Mortgage Association, known as Ginnie Mae, which guarantees securitized pools of government mortgage loans.

County Unemployment Drops Slightly to 4.8% in November

San Diego’s unemployment rate fell slightly to 4.8 percent in November, down from 5 percent the month before, matching the national unemployment rate, which remained flat from October.

County Credit Unions Lend $10.5 Billion in Q3

San Diego County’s 20 credit unions loaned out $10.5 billion to their members in the quarter ending September 30, up 17 percent from last year, the California Credit Union League said.

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Urban Campout Helps Girls Scouts of Today and Tomorrow

Girl Scouts San Diego’s 18th annual fundraiser, Urban Campout: Island Treasures, raised $385,000 to keep Girl Scouting available and affordable for 40,000 girl and adult members. A portion of the proceeds is earmarked for construction of a new cabin at Girl Scouts’ Balboa Campus. Karen Benito and Denise Scott co-chaired the event and Taylor Baldwin and Elizabeth Dewberry were honorary co-chairs. Qualcomm Inc. was the lead sponsor. San Diego Police Chief Shelley Zimmerman, a Girl Scouts board member, and Councilman Todd Gloria participated in the program.

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Bitcoin: Still in Search of Satoshi Nakamoto and Acceptance

FINANCE: Nasdaq, Banks Interested in Using Currency’s Technology

Bitcoin, the decentralized digital currency, entered the mainstream consciousness again this month as two publications thought they had finally unmasked its mysterious creator, who used the pseudonym Satoshi Nakamoto. The outlets, Wired and Gizmodo, soon uncovered new information suggesting they may have been convinced by a hoax, adding another wrinkle to the years-long search for Nakamoto’s identity.

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Real Estate Investing To Be Less Walled-Off

FINANCE: Crowdfunding Co.Inviting Wider Participation

Investing in real estate used to hinge on whom you knew — developers and their brokers tapped clients, friends and family to raise the needed cash to buy, build or refurbish a property.

S.D. Chamber Survey Finds Business Confidence Lagging

Confidence among San Diego businesses fell for the fifth straight month to yet another record low in November, with more than a tenth expecting revenue to decline in the near future.

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Little Italy Apartment Building Sells for $5.5 Million

Newkirk Family Trust II of San Diego has acquired the newly built Ten on Columbia, a 10-unit apartment property in Little Italy, for $5.5 million, according to brokerage company Colliers International.

EDC Announces Relaunch of World Trade Center San Diego

The San Diego Regional Economic Development Corp. recently announced that it was relaunching World Trade Center San Diego, a nonprofit which aims to help businesses improve their international reach.

National Funding's Line of Credit Gets $25 Million Boost

Alternative lender National Funding got a bump in its $50 million line of credit from Pacific Western Bank, bringing it up to $75 million, the company said Wednesday.

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Voices’ Wish List Gets Big Boost from Starry Starry Night

Starry Starry Night, Voices for Children’s signature gala, had a record-breaking year, raising $1.37 million for foster children in San Diego County.

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Gala Recognizes Some Dogged Efforts to Keep San Diego Safe

The San Diego Police Foundation’s fourth annual Gold Shield Gala recently honored police dogs and their officers as “superheroes.”

Nixon Departs; CB&T Revamps Leadership

BANKING: Parent Zions Is Consolidating Charters

Tory Nixon, the head of San Diego and Northern California operations for California Bank & Trust, left the bank last month for a leadership role at Portland-based Umpqua Bank, as CB&T promoted CFO Eric Ellingsen to president.