SD FINANCERecent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...
San Diego-based Suneva Medical Inc., a developer of facial skin products, announced the closing of a $15 million equity investment by Almirall Inc., an affiliate of Almirall S.A., a global pharmaceutical company primarily focused within the therapeutic area of medical dermatology.
Shareholders of San Diego-based Excel Trust Inc. have formally approved the previously announced acquisition of the company by Blackstone Group, in a deal valued at approximately $2 billion.
San Diego-based Realty Income Corp. saw revenue rise 11.1 percent from a year ago in its second quarter ending June 30, reaching $253.9 million.
BofI Holding Inc., the parent company of San Diego-based BofI Federal Bank, reported fourth-quarter net income of $24.4 million on Thursday, a 52 percent increase over the year before and the 14th consecutive quarter of record earnings.
CrediautoUSA Financial Co. LLC announced the completion of a capital facility which provides up to $75 million to facilitate the acquisition by Crediauto of nonprime automobile financing contracts.
American Assets Trust Inc. reported revenue up 7.3 percent from a year ago for its second quarter ending June 30, reaching $66.7 million.
ECONOMY: UC Aims to Spur Other Increases
As the California Assembly mulls whether to increase the state minimum wage to $13 and City of San Diego Democrats gird for a June 2016 ballot battle over an $11.50 wage floor, the University of California said last month it would soon pay its workers at least $15 an hour, the latest dollar target in workers’ fight for a higher minimum wage.
Comerica Bank’s California Economic Activity Index grew in May, increasing 0.8 of a percentage point to a level of 120.5.
San Diego-based mezzanine debt and private equity firm Huntington Capital has a new name, HCAP Partners, the company said Tuesday.
Guild Mortgage Co.’s loan volume reached $6.7 billion in the first six months of the year, more than double its volume during the same period the year before and its best first half in the company’s history, Guild said Monday.
San Diego Private Bank said it had its best second quarter yet, with net income up 85 percent from the year before to $1.1 million.
Supermarket operator Haggen Food & Pharmacy, which recently entered the San Diego County region with 25 locations, has announced an unspecified number of layoffs underway at its Southern California stores.
FINANCE: Canter Cos. Sees Real Estate as Entry For Wealth Management
Buying or selling a house can be the biggest financial decision of a lifetime. But real estate agents at Canter Cos. — a combination developer, broker and venture capital firm — said many homeowners don’t run real estate deals by their financial advisors to protect their tax liabilities.
Carlsbad-based Dealstruck, an online provider of lending solutions for small- and medium-sized businesses, announced that it received a $10 million capital investment from Community Investment Management LLC.
ECONOMY: Investor Pressure Changes Board; Split Is on Table
Wireless communications giant Qualcomm Inc. said July 22 that it plans to lay off 4,500 employees as part of an effort to streamline its business.