San Diego Business Journal


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

Scripps Institution of Oceanography Names Steve Gallagher Assistant Vice Chancellor for Finance and Operations

Scripps Institute of Oceanography at UC San Diego announced that Steve Gallagher will serve as assistant vice chancellor for finance and operations.

Former Citibank Banker Pleads Guilty to Felony Bribery Charge

A former San Diego Citibank business banker pleaded guilty Thursday to a felony bank bribery charge, as prosecutors alleged he recruited high-risk clients and helped them bypass Citibank’s safeguards against money laundering.

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Bank Joins Operation Gratitude to Show Thanks to Veterans

Wells Fargo partnered with the Armed Services YMCA San Diego (ASY San Diego) recently to host a “kitting” and letter- writing event for military families. The event was part of a larger effort by Wells Fargo and the nonprofit Operation Gratitude to show appreciation for our nation’s armed forces.

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Alternative Lending Boom Brings Challenges

FINANCE: Crowded Field Changes Strategies, May Bring Consolidation

When Jules Dalsey founded Liberty Capital Group a decade ago, his business model was straightforward: seek out small businesses looking for equipment financing, learn their stories and connect them with banks or other funding sources most likely to issue a loan. Since 2010, the company has originated $100 million in loans.

El Niño Could Bring Too Much of a Good Thing: Rain

ECONOMY: Tourism, Retail Sectors at Risk; Flood Damage a Concern

Meteorologists around the world are warning of a possible record-setting El Niño weather pattern this winter that could bring intense rain and flooding to Southern California, directly threatening nearly 5,000 San Diego businesses.

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Drought’s Impact Seen In Output

AGRICULTURE: Production Drops 2 Percent in 2014

The value of San Diego’s agricultural products fell slightly last year, declining about 2 percent to $1.82 billion from the year before, as avocado output dropped sharply amid rising water costs and a law requiring cage-free henhouses made raising eggs more expensive.

Fired Auditor Sues Bank of the Internet

A former auditor for Bank of the Internet accused the bank in federal court Tuesday of firing him after he allegedly uncovered potential evidence of regulatory violations and shared his concerns with federal officials.

Glen Oaks Escrow Acquires First Capital Escrow

Glendale-based Glen Oaks Escrow said Wednesday it had acquired Carlsbad-based First Capital Escrow, folding it into its Encinitas location.

Lakeside Land to Become Habitat Preserve with $8 Million Acquisition

Leaders of the San Diego Association of Governments (SANDAG) and conservation groups have announced an $8 million acquisition of 410 acres in Lakeside, to preserve habitats for endangered species.

Plaza Bank Expands Local Presence By Opening Regional Business Center

Irvine-based Plaza Bank has opened a regional business center in San Diego, the first significant physical presence for the small-business-focused bank.

Bank Taps Talent, Place For Life Science Push

FINANCE: S.D. Base Aligns With Leader’s Connections

San Jose-based Bridge Bank is using San Diego as the base of operations for its newly launched life sciences banking group, aiming to serve biotech, medical device and pharmaceutical companies nationwide in need of multimillion-dollar loans.

South County Stats Show Economic Muscle

ECONOMY: Income, GDP Up; Bay Plans May Also Boost Area

South County experienced significant growth outpacing San Diego County within the past couple of years and is expected to keep that momentum with the development of the Chula Vista bay-front.

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Realty Income Raises $517 Million in Stock Offering

Realty Income Corp. raised total net proceeds of approximately $517 million from its public offering of common stock that closed on Oct. 7, the San Diego-based company reported.

August Home Prices Climbed 5.8 Percent Over Last Year

Home values in San Diego and Carlsbad continued to climb in August, rising 5.8 percent over the past year, as home prices appreciated 6.9 percent nationwide, according to a report Tuesday from CoreLogic.

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Realty Income Conducts $450 Million Stock Offering

Realty Income Corp. is expected to close Oct. 7 on a public offering of common stock with net proceeds of approximately $450 million, the San Diego-based company announced.