SD FINANCE

Gift of $30M Will Help Build ‘One-of-a-Kind Children’s Zoo’

Philanthropist T. Denny Sanford announced during a San Diego Zoo employee meeting in January that he is making a $30 million donation — the largest single gift the San Diego Zoo has ever received.

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Many Forces Driving Local Growth

FORECAST: Tax Reform, Low Interest Rates Fuel Capital

Dr. Lynn Reaser, chief economist for Point Loma Nazarene University’s Fermanian Business & Economic Institute, delivered a local economic forecast Jan. 9 at an SDBJ event.

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Seacoast Commerce Reports 2017 Earnings of $2.3M

The bank reported merger expenses of $2 million related to its Oct. 1 acquisition of Capital Bank.

Asset-Based Lender Gerber Finance Opens Carlsbad Office

The company has hired two people to run its West Coast operations out of the Carlsbad office.

San Diego Private Bank Reports $3.4M Earnings in 2017

The bank's net income for the year was impacted by the tax reform bill that was signed into law in December.

North Park Apartments Sold for $32.3M

A recently renovated North Park apartment complex has been sold.

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Endeavor, First New San Diego-Based Bank in 10 Years, Makes Debut

Only a handful of new banks have opened in the U.S. in the past decade.

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Fintech Zebit Hires LendUp's Head of Capital Markets as CFO

Zebit offers interest-free credit to consumers.

LRAD Branches Out With Spain-based Software Firm

Rancho Bernardo-based LRAD Corp. said on Jan. 19 that it acquired software maker Genasys Holding S.L. of Madrid, Spain.

Take the Entrepreneurial Plunge into Convergence

Startup San Diego’s fourth annual Convergence kicks off Jan. 23.

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Luma Raises $3 Million, Partners With Payment Company

LumaTax, which developed software to streamline sales tax compliance for small business owners, said it has raised $3 million in a financing round led by Cowboy Ventures. Existing investors Madrona Venture Group and Greycroft Partners and new investor Vulcan Capital also participated.

Month of a Million Meals Delivers the Million and Much More

Feeding San Diego announced that $1,055,634, equating to 4,222,536 meals, was raised during the fifth annual Month of a Million Meals campaign in partnership with ABC10 and Live Well San Diego.

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Bank Meets Funding Requirement, Sets Jan. 22 Opening

BANKING: First S.D. Bank Opening Since Vibra in 2008

The first new San Diego-based bank in a decade has raised $26.5 million in initial capital. Endeavor Bank will be headquartered in downtown San Diego.

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Guild Mortgage Gets Another Mortgage Lender to Bolster Midwest Presence

The S.D. lender has agreed to buy Cornerstone Mortgage Inc., of St. Louis, Missouri, in a deal expected to close March 1.

VC Backing Brings $1.2 Billion to S.D. Cos. in 2017

Venture-backed companies in San Diego raised more than one-third of $1 billion in the fourth quarter of 2017 and more than $1.2 billion in 2017.

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