San Diego Business Journal


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

SmartDrive Systems Raises $50 Million in Venture Funding

SmartDrive Systems said on March 30 that it raised $50 million of additional venture funding.

By Brad Graves March 31, 2015 3:08 p.m.   Share

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.

RA Capital Advisors Closes $425 Million Acquisition

San Diego-based investment bank RA Capital Advisors on Tuesday announced pest control giant Rentokil Initial plc bought RA client Steritech Group Inc. for $425 million, which it said was the largest acquisition in the pest control industry.

California Economic Activity Index Down Slightly in July

Comerica Bank’s California Economic Activity Index declined in July, decreasing 0.3 of a percentage point to a level of 120.9.

Report Shows Impressive South County Economic Growth, Topping Overall County Rate

The 23 ZIP codes defining South County outpaced the overall county’s growth in GDP, personal income, and employment from 2010 to 2013, according to a report from the National University System Institute for Policy Research.

San Diego Private Bank to Form Holding Company

San Diego Private Bank said it will soon form a holding company for the bank, a corporate structure that allows for easier access to capital markets and greater structural flexibility.

San Diego County’s Pension Fund Reports Net Returns of 2.68% for Fiscal Year

San Diego County’s pension fund reported net returns of 2.68 percent for the fiscal year, ending on June 30, giving the fund a year-end total of $10.3 billion.

Bridge Bank To Base Life Sciences Group in S.D.

FINANCE: Focus Will Be on Sector’s Specific Capital Needs

Bridge Bank announced the launch of a new national banking group to be based in San Diego — the Life Sciences Group (LSG) — which will offer customized financial solutions to companies operating in the life sciences sector.

Tim Hodge Named Executive VP at LPL's San Diego Office

LPL Financial LLC, a Boston-based independent broker-dealer, named a new executive vice president Tuesday to work out of the company’s San Diego office.

Encore Capital Group Buys Majority Stake in Baycorp

Encore Capital Group, the country’s largest buyer of delinquent debt, said it has purchased a majority interest in Baycorp, one of the top debt collections firms in Australia.

Former La Jolla Bank Official Pleads Guilty to Conspiracy

A former official at defunct La Jolla Bank pleaded guilty to a conspiracy charge on Friday, admitting top executives at the bank accepted bribes from unqualified borrowers in exchange for guaranteeing hundreds of millions of dollars’ worth of loans. Federal prosecutors said the scheme led to the bank’s 2010 collapse.

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Struggling Grocer Haggen Plans to Exit Pacific Southwest Market

Struggling grocery chain Haggen Food & Pharmacy plans to exit the Pacific Southwest market and realign its operations around 37 core stores and one stand-alone pharmacy in its original home base of the Pacific Northwest.

Millennium Health Reportedly Reaches Settlement with Government

Millennium Health, the nation’s largest drug-testing company, is finalizing plans to pay the U.S. Department of Justice $275 million to settle a probe over its billing practices and hand over control of the company to lenders in bankruptcy proceedings, Bloomberg reported Sept. 23.

Despite Conservation, Water Related Costs Are Mounting

ECONOMY: Drought Affects Several Aspects of State’s Business Climate

San Diego County residents and businesses are paying the price for state restrictions on the use of stored water reserves, said experts at a recent University of San Diego forum, even as the local region has topped most others in California when it comes to conserving water during the past two decades.

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BioMed Shares Rise Sharply After Report of Possible Sale

San Diego’s BioMed Realty Trust Inc. was among the biggest movers on the New York Stock Exchange on Sept. 23, after a media report that the company is exploring a sale.