San Diego Business Journal

SD FINANCE

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

Community Banks Feel the Heat From New Regulatory Climate

FINANCE: Being Bigger Becomes More of a Necessity

Smaller, community banks continue to vanish from the national and local landscape, causing some people to speculate they may eventually become extinct.

BofI Federal Bank Growing Deposits Through Online Channels

BofI Federal Bank grew its deposits over the last year by more than $1 billion, but it still has far more loans than deposits, a rarity in the banking world.

Economic Delegation Brings Home Some Lessons from Abroad

ECONOMY: Germany Trip Explores Country’s Workforce Development

Munich in November may not sound inviting, but a delegation from San Diego hopes to glean insights from a recent visit there that will help build this city’s innovation economy.

County Jobless Rate Drops to 5.8 Percent in October

San Diego County’s unemployment rate dipped to 5.8 percent in October, down 0.1 percent from September, as the region added a net of 12,500 jobs during the month, according to the state’s Employment Development Department.

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When Banks Say No

Finance: Lenders Give Businesses Financing Options

Three years ago, restaurant veterans Hanis Cavin and Sara Stroud opened their own eatery in North Park, Carnitas’ Snack Shack, to rave reviews and lines of eager patrons.

PetCo Purchases Online Supplier Drs. Foster and Smith

Petco, the San Diego-based pet supplies retailer that operates about 1,300 stores, said it agreed to purchase Wisconsin-based Drs. Foster and Smith, an online pet supply company that specializes in pet care and education, for an undisclosed price.

Receptos' Pricing Puts Public Offering of Common Stock at $360M

Receptos Inc., a biopharmaceutical company developing drug candidates to treat immune and metabolic diseases, announced the pricing of an underwritten public offering at $360 million for 3,600,000 shares of its common stock at a price to the public of $100 per share.

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Chargers Blood Drive Set for November 25

The 36th annual Chargers Blood Drive, sponsored by San Diego County Credit Union, will be held on Tuesday, Nov. 25 from 9 a.m. to 6 p.m. at the Town and Country Resort Hotel & Convention Center in Mission Valley.

Isaac Capital Group Purchases $5 Million in Stock in Dataram Corp.

Isaac Capital Group LLC, a San Diego-based private investment firm, said it closed a $5 million preferred stock purchase in Dataram Corp., a New Jersey-based manufacturer of computer memory and software products.

Allylix Inc. Acquired by Swiss Company

Evolva Holding SA announced it has agreed to acquire San Diego-based Allylix Inc. in an all-stock transaction.

Moody's Upgrades City of San Diego's Bond Rating

Moody’s Investors Services upgraded its rating for the city of San Diego’s outstanding lease revenue bonds from A2 to A1, with a stable outlook.

BSC Expects to Boost Business with Its Latest Acquisition

BANKING: It Is Now S.D.’s Sixth-Largest Community Bank

San Diego-based Bank of Southern California acquired the assets and deposits of failed El Paseo Bank in Palm Desert, expanding BSC’s footprint in the Coachella Valley to four branches. It now has a total of eight branches.

Merger Approval Subject of Overland Storage's Shareholders Meeting

Overland Storage Inc., the San Diego provider of data storage systems, set a special shareholders meeting for Nov. 28 to approve the company’s merger with Ontario, Canada-based Sphere 3D, but approval would appear to be a foregone conclusion.

Some Well-Timed Bank Buys Prove Profitable for Investors

Recent bank deals affecting large swaths of the West and San Diego prove that private equity prefers cashing out of investments and the preferred holding time is no more than five years.

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Improving Economy Changes the Holiday Hiring Dynamic

WORKFORCE: Filling Positions Usually Starts 2 Months in Advance

Dominique Hernandez is working longer hours these days. She has jobs to fill, people to train.