San Diego Business Journal


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

Guild Mortgage Co. Reports Record Loan Volume of $10.7 Billion

Guild Mortgage Co. on Tuesday reported record loan volume of $10.7 billion in the first nine months of the year, more than double its volume of $5.2 billion during the same period last year. The company recorded $4 billion in loans in the third quarter alone.

San Diego Private Bank Reports Record Q3 Net Income

San Diego Private Bank on Monday reported yet another record quarter, with net income nearly doubling to $1.4 million.

San Jose Company Acquiring NovaRx

San Jose-based Viropro said Oct. 23 that it’s acquiring San Diego-based NovaRx, a developer of immuno-oncology treatments, for an undisclosed all-stock price.

CDC Small Business Finance Lends More Than $800M in Fiscal Year

CDC Small Business Finance, one of the nation’s largest Small Business Administration lenders, said it lent out more than $800 million over the past fiscal year ending in September.

ResMed Reports Q1 Net Income of $80.4M

San Diego medical device maker ResMed reported net income of $80.4 million for the first quarter of fiscal 2016, down 3 percent from the same quarter the previous year.

Seacoast Commerce Reports Q3 Net Income of $1.5 Million

Third-quarter net income for Seacoast Commerce Banc Holdings, the parent company for Seacoast Commerce Bank, hit $1.5 million, the bank said Thursday, up from $1 million last year.

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Financial Management Co. Finds Niche Helping Small Businesses

FINANCES: Firm Is Familiar With Challenges, Ins-and-Outs of Operations

What a Relief, a financial management firm serving small businesses, will near $1 million in revenue this year. Not bad for a company that began with three clients over a decade ago and now serves more than 100.

Region Sees 225 M&As in First Nine Months of 2015

ACQUISITION: Tech, Life Sciences and Finance Are Most Active Sectors

The San Diego region recorded 225 mergers and acquisitions (M&As) from Jan. 1 to Oct. 7, most of them involving the technology, finance and life sciences sector, according to information compiled by the nonprofit CONNECT.

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Craft Brewer Takes Giant Step: Files for IPO

FINANCE: Ballast Point Would Be First Local Brewer on Nasdaq

Ballast Point Brewing & Spirits Inc. is planning to take the plunge with an initial public offering (IPO) of stock.

Proposing A Virtual Toast To Virtual Galas

Charitable donations have remained at about 2 percent of the U.S. GDP for decades. This presents the nonprofit sector with a classic dilemma — attempts to do something differently to grow overall giving come with a risk of losing share of market.

Mortgage Lending Changes Arrive

FINANCE: Some Say Devil Is In too Many Details, Delay

The home mortgage industry is grappling with recently implemented lending rules aimed at simplifying and consolidating the information borrowers receive, making it easier for prospective homebuyers to compare offers, but potentially adding delays to the process.

Investment Bank Hires Former Allergan Exec David Crean

San Diego-based middle market investment bank Objective Capital Partners has hired former Allergan executive David Crean to head its life sciences investment banking group, the bank said Tuesday.

Business Outlook Index Dips Slightly, Optimism Drops Again

The San Diego Regional Chamber of Commerce’s measure of business optimism fell for the third consecutive month in September to another year-long low, with firms expressing concern about the impending state minimum wage hike and new aspects of the Affordable Care Act.

S.D.'s Unemployment Rate Drops to 4.6% in September

San Diego’s unemployment rate dropped a half of a percentage point to 4.6 percent in September, as the county netted 2,500 jobs since August.

Gimbal Inc. Acquires San Francisco-Based Phigital

Gimbal Inc. said on Oct. 15 that it acquired San Francisco-based Phigital.