San Diego Business Journal

SD FINANCE

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

Governor Signs Bill Hiking Minimum Wage to $15 by 2022

Gov. Jerry Brown on Monday signed legislation raising California’s minimum wage to $15 an hour by 2022, the highest state wage floor in the county.

BofI Federal Bank Acquires Bulk of Pacific Western Bank's Finance Division

BofI Federal Bank has acquired a substantial portion of Pacific Western Bank’s equipment finance division, the bank said Monday, including the division’s entire senior management team and $140 million worth of equipment leases.

Regional Economic Index Inched Slowly Up in February

An index tracking San Diego’s economic health barely edged up in February as plunging local stock prices balanced out positive momentum in online job ads and unemployment claims.

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Sycuan’s Commitment to Community Seen in CAF Gift

NBA Hall of Famer Bill Walton accepted a $50,000 check from Sycuan Casino on behalf of the Challenged Athletes Foundation. The donation is part of the casino’s promise to the San Diego-based nonprofit to donate at least 5 percent of its GameDay Sports Bar & Grill’s annual sales, which began in 2012.

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Renovate to Expand Outside of California With PACE Loans

FINANCE: Company To Offer a Commercial Version of Its Lending

Renovate America, by far the largest provider nationwide for a clean energy financing initiative called PACE, is set to capitalize on its leading position next month as it expands outside California and launches a commercial version of its product.

State Action on Wages Could Affect S.D. Vote

WORKFORCE: Measure Would Still Change Sick Days

Gov. Jerry Brown’s support last month of a plan to bring California’s minimum wage to $15 an hour is complicating the campaign over a June ballot measure that would boost San Diego’s minimum wage to $11.50.

State Chamber of Commerce Releases List of 'Job-Killer' Bills

The California Chamber of Commerce released its annual list of “job killer” bills on Tuesday – and the tally of 18 so far is fewer than in recent years.

Figtree Financing Raises $30 Million to Expand Program

Figtree Financing on Monday said it had raised $30 million to expand its commercial clean energy financing program outside California and launch a residential program.

Governor, Legislative Leaders Reach Agreement to Hike Minimum Wage to $15

Gov. Jerry Brown and state legislative leaders on Monday backed a proposal to hike the statewide minimum wage to $15 an hour by 2023.

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Office Owner Secures $31.5M in Refinancing

An affiliate of San Diego-based Davlyn Investments has obtained $31.5 million in acquisition refinancing for the Northridge Summit office building in Scripps Ranch, according to NorthMarq Capital, which arranged the financing.

State EITC Benefits Economy, Small Businesses

Much of the talk surrounding the benefits of California’s new Earned Income Tax Credit (EITC) is about how much it will help low-income workers and their families. There’s a good reason for that: It is new money put directly in the pockets of the hard-working people who need it most.

PICO Settles Two Disputes With Shareholder Activists

INVESTing: Company Avoids Board Battle, Seeks To Leverage Water Rights

PICO Holdings Inc., a company with interests in water and land rights, has quashed a brewing battle with shareholders over control of its board, signing deals with two vocal activist investors that will avoid a special vote on its board makeup.

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Loan Servicer Leverages Growth in Alt Lending

FINANCE: First Associates Excels at Educating Consumers

When David Johnson was searching for something to rescue him from the doldrums of retirement in 2008, he honed in on First Associates Loan Servicing LLC.

Report Details Top 10 Careers for San Diego Graduates

The most promising careers for young San Diegans are increasingly reliant on data skills, according to a report Tuesday from University of California, San Diego Extension, with analysts making up half of the region’s top emerging careers.

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Doug Wright Named CFO at Mission Federal Credit Union

Mission Federal Credit Union on Monday said it has hired Silvergate Bank’s former CFO to fill the same role at Mission Federal.