San Diego Business Journal

SD FINANCE

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

BofI Holding Inc. Reports Q2 Net Income of $28.1 Million

BofI Holding, Inc., parent company of BofI Federal Bank, reported net income of $28.1 million for the fiscal quarter ending Dec. 31, up 45 percent from the year before.

Guild Mortgage Reports Loan Volume of $13.8 Billion for 2015

Guild Mortgage Co. on Wednesday reported record loan volume of $13.8 billion for 2015, almost double the $7.4 billion from the year before and exceeding internal expectations by nearly $2 billion.

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Clean Energy Future Has Quantifiable Benefits

With a unanimous San Diego City Council vote in December to adopt the San Diego Climate Action Plan (CAP), San Diego became the largest metropolitan area in the U.S. to adopt an aggressive target of 100 percent renewable energy within 20 years. This positions the city as a forward-thinking leader in climate policy both nationally and globally.

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Grant to Museum Will Plant the Seeds of Learning in Kids

The New Children’s Museum announced that it has received $30,000 from longtime supporter San Diego Gas & Electric for two key efforts: $15,000 for the Museum’s Garden Project in the Children’s Park and $15,000 for Salute our Troops military efforts.

Mr. Kashyap Goes to Washington After Fruitful Qualcomm Stint

The head of Qualcomm Inc.’s venture capital arm, Nagraj Kashyap, has left to join Microsoft Corp., the big Washington software company confirmed.

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LoanHero Is Planning to Expand Its Platform Nationwide

FINANCE: Partnering With Retailers Avoids Major Marketing Costs

LoanHero, one of the latest members in San Diego’s burgeoning alternative lending community, closed a $2.5 million seed funding round last month, bringing its fundraising total so far to $4.2 million.

Qualcomm Looking To Get Strength Back

TECH: Co. ‘Executing,’ But Q2 Outlook Is Weak

Wireless technology specialist Qualcomm Inc. seemed to be its old self — under promising and over delivering — when it reported earnings for its recently ended first quarter on Jan. 27. Guidance for the current quarter, however, disappointed Wall Street and shares slumped after hours.

Local Cos. Cash In on VC Funding in 2015

FINANCE: More Caution Expected in Shaky Economy

Venture capital investors pumped more than $1 billion into San Diego companies last year, the region’s best funding period in at least three years, buoyed by an especially diverse distribution of capital across industries.

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Umpqua Bank Expands San Diego Services

Portland-based Umpqua Bank on Monday said it was expanding its commercial banking services in San Diego with the hire of two former California Bank & Trust executives, on the heels of installing CB&T’s San Diego leader as its new head of commercial banking.

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Realty Income Raises Common Stock Dividend by 5 Percent

San Diego-based Realty Income Corp. recently announced that its board of directors has approved a 5 percent increase in the company’s common stock monthly cash dividend.

County Unemployment Rate Is 4.7% in December

San Diego’s unemployment rate edged downward to 4.7 percent in December, down from 4.8 percent the month before, as the region’s labor force slightly contracted.

Financial Services Firms Unify SoCal Operations

Financial services firm CBIZ MHM LLC and CPA firm Mayer Hoffman McCann PC on Jan. 20 said they were restructuring their Southern California operations, combining seven officers into a single business unit, run from San Diego.

Seacoast Commerce Banc Holdings Reports Earnings

Annual income for Seacoast Commerce Bank’s corporate parent, Seacoast Commerce Banc Holdings, reached $5.8 million last year, up 33 percent from $4.3 million in 2014.

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A Tip of the Hat to Buck Howdy for Helping Both Rady, Sleigh

A strange thing happened to Poway Mayor Steve Vaus as he waited in the green room of a local TV station to promote the 25th year of his charity Carols by Candlelight — he fell in love. Also there that day from the Helen Woodward Animal Center for his television appearance was 2-month-old Sleigh, a border collie/Labrador retriever mix.

Index Finds Optimism Growing Among S.D. Businesses

Optimism among San Diego businesses rose for the first time in six months last month, as more companies look forward to rising revenue and improving business conditions in the first quarter.