San Diego Business Journal

SD FINANCE

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

Majority of Region's Businesses Say Housing Costs Are Too Expensive

More than 90 percent of San Diego-area businesses believe the region’s housing has become too expensive, and most think more residences should be built, according to survey results released Wednesday.

Neighborhood National Bank Raises $6 Million

San Diego’s only community development financial institution, or CDFI, on Monday announced a $6 million recapitalization agreement.

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Camp Erin Gives Kids Place to Share Their Feelings and Fun

The Center for Compassionate Care of The Elizabeth Hospice hosted Camp Erin San Diego in partnership with The Moyer Foundation. This annual weekend summer camp is open to children and teens who are grieving the death of someone close to them. This camp experience is free of charge and combines traditional, high-energy camp activities with grief support and education.

Proposal Could Ease Regulatory Burden for Small Banks

BANKING: Quarterly Reports Could Shrink From 85 to 61 Pages

Banks that manage less than $1 billion in assets could get some relief from quarterly reporting requirements under a proposal being floated by federal bank regulators to reduce the amount of information banks must report.

Connect Is Seeking Life Science Startups for Investment Program CapitalMatch

San Diego’s early-stage life science companies are invited to apply for CapitalMatch, a program run by San Diego startup accelerator Connect to link companies seeking funding with interested investors.

Halozyme Increases Estimate for Yearly Net Revenue

Halozyme Therapeutics Inc. bumped its estimate for this year’s total net revenue haul to a high of $150 million, according to a recent financial statement.

Veterans, Millennials Dominate S.D.'s Workforce, Women Lag, Study Finds

The San Diego area workforce has the highest percentage of millennials and veterans, but the lowest percentage of women compared to nine competing metro areas.

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Hostel Takeover

Entrepreneurs’ Site Looks to Blaze An Online Trail for Those Who Travel Light

After spending a couple of their post-college years traveling the globe, and a few more years refining their business plan, San Diegans Bradon Young and Garrett Mincks have started a business to tell people how they can travel, too.

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Partners Take Holistic Approach to M&A

FINANCE: New Investment Bank Won’t Parcel Out Process

An investment banker and the head of marketing operations for a division of the nation’s largest energy retailer have teamed up to open a Del Mar-based investment bank focused on mergers and acquisitions.

Small Banks Approved More Loans in July Than Bigger Counterparts

Loan approval by small banks in San Diego rose by 0.2 percent in July while the rates of approval by banks with $10 billion or more in assets and alternative lenders fell 0.3 percent and 0.1 percent, respectively, according to an analysis by Biz2Credit, an online small business lending platform.

Startup Nervana Systems Acquired by Intel Corp.

Intel Corp. has agreed to acquire San Diego-based Nervana Systems, the semiconductor giant announced Tuesday.

Heritage Global Says Q2 Revenue Grew to $3.9 Million

Heritage Global Inc., a San Diego-based company that conducts liquidation transactions and valuations for distressed and surplus corporate and financial assets, announced it had earned $600,000 in net income during the second quarter of the year, an improvement from last year’s net loss of $700,000.

Silvergate Bank Posts Q2 Net Income of $1.7 Million

La Jolla-based Silvergate Bank said Monday it took in $1.7 million in net income in the second quarter of the this year, down 45 percent from the same quarter last year when it earned $3.1 million.

Chamber, Wells Fargo Partner to Launch Small Business Resource Center

The San Diego Regional Chamber of Commerce, in partnership with Wells Fargo, announced the launch of an online Small Business Resource Center, a section of the chamber’s website with free information for small businesses.

Dry Cleaning Chain Expanding into San Diego

Maryland-based Zips Dry Cleaners has signed a development deal with a Los Angeles area franchisee to build 110 locations in Southern California, including 15 in the San Diego market.