San Diego Business Journal

SD FINANCE

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

San Diego County Credit Union, the area’s largest credit union with $6.6 billion in assets, said it is a sponsor of the San Diego State University men’s basketball 2014-15 season.

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Acutus Medical Completes $26.2M Funding Round

Acutus Medical Inc., a San Diego-based medical device company developing tools for treating complex cardiac arrhythmias, announced it has completed a $26.2 million financing round to continue developing its imaging and mapping system.

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Ambit Biosciences to Be Acquired By Japanese Company

San Diego-based Ambit Biosciences Corp. and Japanese-based Daiichi Sankyo Company Ltd. jointly announced that they have entered into a merger agreement under which Daiichi Sankyo will acquire all of the outstanding common stock of Ambit Biosciences for approximately $315 million on a fully diluted basis or $15 per share.

Irwin Jacobs Makes Forbes' 400 Wealthiest Americans List

Qualcomm Inc. co-founder and retired chairman Irwin Jacobs was the only San Diegan to make this year’s Forbes list of the 400 wealthiest Americans.

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Excel Trust Buys Three Utah Retail Properties for $223 Million

San Diego-based Excel Trust Inc. has purchased a portfolio of three Utah retail centers for approximately $223 million, according to the parties and brokerage company involved.

Positive Results in a Meritage Pharma Trial May Be Step Toward Acquisition

San Diego-based Meritage Pharma Inc. announced positive final Phase 2 results of the company’s treatment for a chronic disease involving inflammation of the esophagus ─ eosinophilic esophagitis.

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Labor Forces

WORKFORCE: Demand Leads Companies in Key Industries to Fill Positions

San Diego’s labor market is looking up with more companies hiring local talent.

Home Bank Seems to Always Be Making Profitable Moves

When Home Bank of California changed its address last year and moved to Kearny Mesa from Pacific Beach, the idea was to mine the more heavily concentrated business neighborhood.

Pension Fund Officer’s Position Is in Peril

FINANCE: County Considers Trying Path With Less Risks

San Diego County’s employee pension fund would be better off adopting a safer, more traditional investing model rather than the higher-risk one now in place, said several investment professionals.

Pulse Electronics Corp. Plans to Delist From New York Stock Exchange

Pulse Electronics Corp., the San Diego manufacturer of electronic components in China, said it decided to voluntarily delist its common stock from the New York Stock Exchange and deregister the shares with the federal Securities and Exchange Commission.

Lucia Capital Group Acquires Montecito Firm

Lucia Capital Group, a San Diego wealth management firm whose principals include Ray Lucia Jr. and Joe Lucia, the son and nephew of longtime local financial advisor Ray Lucia, said it acquired West Coast Asset Management of Montecito, an advisory firm that manages about $170 million in assets.

Defense Spending in County Expected to Drop 1%

A new, comprehensive look at the U.S. Department of Defense’s local presence predicts that the military spending that San Diego County enjoys will decline one percent in the new fiscal year, which begins on Oct. 1.

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Cytori Pursuing Restructuring Plan

Cytori Therapeutics, a cell therapy company in San Diego, announced an updated strategy and plan to restructure its operations and reduce costs.

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REIT Buys Four San Diego Office Buildings for $21.8 Million

Bixby Land Co. of Irvine has purchased four San Diego office buildings, in deals totaling $21.8 million, with plans for more than $16 million in renovations.

Guild Mortgage Acquires Comstock Mortgage

Guild Mortgage, a San Diego mortgage lender that has more than 200 branch and satellite offices in 23 states, said it acquired Comstock Mortgage, an independent mortgage lender in Sacramento with 15 offices.