SD FINANCE
Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...ServiceNow Takes Loss, Sees 81 Percent Growth
ServiceNow Inc., the San Diego provider of information technology services through cloud systems, reported a first quarter net loss of $13.4 million, compared with a net loss of $5.6 million for the like quarter of 2012.
BofI Sets Up Healthcare Finance Unit
BofI Holding Inc., the San Diego-based parent of BofI Federal Bank, said it recently launched a healthcare finance unit that will focus on financing solutions to lower and middle market healthcare providers with needs ranging from $1 million to $30 million.
Ocera, Tranzyme to Tie the Knot
San Diego-based Ocera Therapeutics Inc. announced it will merge with Research Triangle Park, N.C.-based Tranzyme Pharma in an all-stock transaction. Ocera, currently privately held, will go public after the merger.
Pacific Premier Receives Regulatory Approvals to Purchase San Diego Trust Bank
Pacific Premier Bancorp Inc., the Irvine-based holding company for Pacific Premier Bank, said it received approvals for the acquisition of San Diego Trust Bank from the Federal Reserve Bank of San Francisco and the California Department of Financial Institutions.
NuVasive Opens Tokyo Office
San Diego medical device manufacturer NuVasive Inc. is opening a new office in Tokyo to strengthen its sales in Asia.
Sense4Baby Receives $4M
San Diego-based Sense4Baby Inc. announced it has received $4 million in funding from the West Health Investment Fund.
K2 Insurance Services Acquires Aegis Security Inc.
K2 Insurance Services LLC, a San Diego business that was formed in 2011 to acquire and manage general insurance agencies and specialty underwriters, said it recently acquired Aegis Security Inc. of Pennsylvania.
Mortgage Master to Expand Its La Jolla Operations
Mortgage Master, a Massachusetts-based mortgage bank, said it plans to expand its current La Jolla office.
East County Group Receives $50,000 Grant for Aerotropolis Planning
The East County Economic Development Council has received a $50,000 grant from The San Diego Foundation to develop an aerotropolis strategic roadmap for the area surrounding Gillespie Field airport in El Cajon.
Kyocera Solar Is Cutting 23 Full-time and 85 Temporary Positions
Kyocera Solar, which opened a panel manufacturing line in San Diego to much fanfare in early 2010, said it’s cutting 108 people because of declining demand for domestically-made solar panels.
SeaWorld’s IPO Goes Well
SeaWorld Entertainment Inc., which operates a big division here, made a nice splash on Wall Street when its initial public offering jumped 24 percent to $33.52, giving the company a market capitalization of about $3 billion.
Loan on Park Hyatt Aviara Returned to Special Servicing
A $186.5 million loan backing the Park Hyatt Aviara in Carlsbad has been placed back in special servicing because of a payment default by the borrower.
Local Unemployment Rate in March Was 7.7 Percent
San Diego’s unemployment rate in March dropped to 7.7 percent down from a revised 8 percent in February, and the lowest it’s been since December 2008, according to the state’s Employment Development Department.
Some Local U.S. Bank Branches to Get Solar Panels
U.S. Bank locations in Scripps Ranch and Emerald Hills are among eight Southern California bank branches that will get solar panel installations from SolarCity, the two businesses announced.
Hesitant Banks Boost Hard Money Market
FINANCE: Home Flippers Flock To Lenders for ‘Easier’ Money
Hard money or private financing companies that make loans that banks would never touch are busier than ever these days.
