San Diego Business Journal

SD FINANCE

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

IPOs Down Significantly for Q1 2015

The number of initial public offerings (IPOs) in the first quarter of 2015 dropped significantly from the same period a year ago, according to reports from the accounting firm Ernst & Young and fund manager Renaissance Capital.

Black Mountain Systems Acquired by Stone Point Capital

Black Mountain Systems, a San Diego-based software company that caters to asset managers and financial institutions, has been acquired by Stone Point Capital, a private equity firm.

Seacoast Commerce Banc Holdings Completes Loan Transaction for $7M

Seacoast Commerce Banc Holdings, a bank holding company for Seacoast Commerce Bank, announced the completion and funding of a bank holding company loan provided by Dallas-based NexBank SSB, in the amount of $7 million.

Tease photo

Small Business Lender Is on Big Growth Trajectory

LENDING: Company Looks to Expand into Midmarket Segment

When banks retreated from making small business loans during the depths of the Great Recession, Dave Gilbert saw a huge opportunity.

More Mergers Ahead

Four Years Into Impact of Reforms, Local Bankers Expect More Consolidation

Get ready for more bank mergers in San Diego County and elsewhere as new regulations and low interest rates put a squeeze on profits.

Huntington Announces Closing of Its $91.7M Fund

FINANCE: Firm Seeks Positive Social Impact From Investing

San Diego-based Huntington Capital, a provider of growth capital to lower-middle market companies, announced the final closing of its third fund, Huntington Capital Fund III L.P., with $91.7 million of total capital commitments.

Tease photo

Firms’ Reputations Grow at SXSW Event

STARTUPS: Crop Technology, Tax Filing Get Noticed in Austin

The knot of people who converged at the South by Southwest festivals saw and heard the best of what’s new. Judges thought two San Diego companies, Slantrange Inc. and Common Form Inc., belonged in that category.

Huntington Capital Announces Final Closing of $91.7M Growth Capital Fund

San Diego-based Huntington Capital, a provider of growth capital to lower-middle market companies, announced the final closing of its third fund, Huntington Capital Fund III L.P., with $91.7 million of total capital commitments.

Pulse Electronics Corp. Reports Net Loss of $9.6M for Q4

Pulse Electronics Corp. reported a net loss of $9.6 million on net sales of $80.1 million for its fourth quarter.

Tease photo

Vital Therapies Reports Q4 Results

San Diego-based Vital Therapies Inc., a company developing a cell-based therapy to help people suffering from serious liver disease, announced its fourth quarter financial results on March 19, reporting a net loss of about $14 million compared with a net loss of $10.2 million in the same quarter of 2013.

Cidara Therapeutics Aims for $69M With Planned IPO

Cidara Therapeutics Inc. has filed to raise up to $69 million in an IPO, the San Diego biotech disclosed in a registration statement filed recently.

O’Neal Named President of Lucia Securities

Lucia Capital Group, a San Diego-based family of companies in the wealth advice, asset management, and investment distribution spaces, named Tiy O’Neal president of Lucia Securities LLC, Lucia Capital Group’s broker-dealer platform.

Pfenex Inc. Reports Q4 and Yearly Results

San Diego-based Pfenex Inc., a clinical-stage biotechnology company that makes biosimilars, announced its fourth quarter financial results March 16, reporting a net loss of $3.57 million on revenue of $2.02 million. In the like quarter of 2013, the company reported $469,000 net loss on revenue of $4.23 million.

Local Biotech AltheaDx Backs Off From Its IPO Plans

FINANCE: Recent IPO Withdrawals Said Not To Be Cause for Concern

AltheaDx Inc. has withdrawn its plans to file an initial public offering (IPO), citing unattractive terms in the public marketplace, according to a regulatory filing.

Tease photo

Port Has $4.4 Billion Annual Economic Impact

ECONOMY: 2013 Data Shows Impact Is Up 8% Since 2011

The Port of San Diego has an annual economic impact of $4.4 billion, according to a study commissioned by the agency and issued March 10.