San Diego Business Journal

SD FINANCE

Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...
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Red Cross Chapter Names William Earley as CEO

The American Red Cross San Diego / Imperial Counties Chapter named William Earley as regional chief executive officer.

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Domino's Pizza Puts Out the Call for 200 New Hires

Michigan-based Domino’s Pizza is in the process of hiring more than 200 new employees at 49 San Diego County locations.

Banker Considers SBA Changes ‘Stupidest Thing in the World’

In a well-intended effort to extend loans to small-business borrowers who previously had a tougher time getting them, the U.S. Small Business Administration may be setting itself up for pain down the road. That is the feeling among a few local bankers who make SBA loans. They view the agency’s latest changes to underwriting on micro loans, those under $350,000, as dumb.

Citizens Business Is Banking on the Local Market

Finance: Established Local Executive Brought In to Head S.D. Office

Citizens Business Bank, which officially entered the San Diego market earlier this month with the opening of a Carmel Valley office, touts having big-bank capabilities delivered with a small-bank sensibility.

Seacoast Now Under Federal Reserve System

Seacoast Commerce Bank, based in Rancho Bernardo and with about $350 million in assets, joined the Federal Reserve System, becoming one of 26 banks in California in the system.

CDC Small Business Finance Sees Good News for State in SBA Loan Activity

San Diego-based CDC Small Business Finance, a nonprofit entity that partners with banks on commercial real estate loans guaranteed by the U.S. Small Business Administration, said recent SBA data shows positive signs for the California economic recovery.

San Diego Private Bank Relocates Its Downtown Office

San Diego Private Bank, with about $350 million in assets, relocates its Little Italy downtown office farther south to 550 West C Street, Suite 10 effective June 30, the bank said.

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Excel Trust Completes $167.6 Million Common Stock Offering

San Diego-based Excel Trust Inc. completed a public offering of common stock, with total proceeds of about $167.6 million and net proceeds of $160.6 million after underwriting and related expenses.

OneAmerica to Acquire City National’s Retirement Services

OneAmerica Financial Partners, an insurance company based in Indianapolis, said it’s entered an agreement with City National Bank, based in Beverly Hills, to acquire City National’s San Diego-based retirement services record keeping business for an undisclosed price.

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San Diego County Credit Union Reopens Branch at New Escondido Location

San Diego County Credit Union, the area’s largest credit union with $6.5 billion in assets, recently celebrated the re-opening of its Escondido branch, at Felicita Town Center at the corner of Centre City Parkway and Felicita Avenue.

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Ligand Inks Licensing Agreement With TG Therapeutics

Ligand Pharmaceuticals Inc. has signed an exclusive global license agreement with TG Therapeutics Inc. for the development and commercialization of Ligand’s Interleukin-1 Receptor Associated Kinase-4 — or IRAK-4 — inhibitors, Ligand announced.

WD-40 Declares Quarterly Dividend

San Diego-based WD-40 Co. said its board of directors declared its regular quarterly dividend June 24, 2014 of 34 cents per share, payable July 31, 2014 to stockholders of record at the close of business on July 11, 2014.

Sorrento Therapeutics Registers for Possible IPO for Animal Health Subsidiary

Sorrento Therapeutics Inc. has submitted a draft registration statement on a confidential basis with the U.S. Securities and Exchange Commission for a possible initial public offering of shares of common stock of its wholly-owned subsidiary, Ark Animal Health Inc.

Foreign Investment Responsible for 50,000 Jobs in Region

Nearly 50,000 San Diego jobs were directly connected to foreign investment in 2011, or nearly double the number of jobs connected to foreign investment 20 years ago, according to a report from the Bookings Institution.

Seacoast Commerce Bank to Join Federal Reserve System

Seacoast Commerce Bank, based in Rancho Bernardo and with about $350 million in assets, said it’s joining the Federal Reserve System effective June 25, becoming one of 26 banks in California that belong to the system.