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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Regulus Reports Q2 Results

San Diego-based Regulus Therapeutics Inc. reported a net loss of $12 million for the second quarter of 2014, compared with a net loss of $7.3 million for the same quarter last year.

Silvergate Bank Reports Net Income of $1.5M for Q2

Silvergate Bank, based in University City and with four branches, reported second quarter net income of 1.5 million, up 10 percent from the like quarter of 2013.

UCSD, The Scripps Research Institute and Illumina Get NIH Grants

The Scripps Research Institute, the University of California, San Diego and Illumina Inc. have been awarded a total of $8.7 million in grants by the National Institutes of Health for DNA sequencing research.

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Otonomy Price IPO at $80 Million

San Diego-based Otonomy, a biopharmaceutical startup developing new treatments for diseases and disorders of the ear, has announced the estimated pricing of its initial public offering at $80 million — 5.3 million shares at a price range of $14 to $16.

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Broadcom to Layoff Up to 203 Locally

Broadcom Corp. plans to lay off 203 people from its San Diego office beginning in late September, according to the state Employment Development Department.

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Isis Reports Q2 Revenue of $57.1 Million

Isis Pharmaceuticals Inc. reported second quarter revenue of $57.1 million compared with $38.1 million in the previous quarter.

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ResMed Reports Fourth Quarter Results

ResMed Inc.’s fourth quarter net income dipped slightly at $87.7 million, down from $90 million last quarter, but an overall increase of 20 percent over the same quarter last year.

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Altman Named Managing Partner at KPMG

Beth Altman has been named managing partner of accounting firm KPMG LLP’s San Diego office.

San Diego Private Bank Posts Solid Earnings Growth for Q2

San Diego Private Bank’s second quarter net income more than doubled from a year earlier at $594,000, while its total assets grew 8 percent to $339.5 million.

Phase 2 of Bay Cleanup Dredges Up Old Issues

BAY: Some Say Costs Increased By Foot-Dragging, Litigation

One of the more contentious environmental remediation projects in San Diego history — a cleanup of two sites in San Diego Bay — enters phase two this week.

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Excel Trust Reports Revenue Increase for Second Quarter

San Diego-based Excel Trust Inc. saw total revenue rise 14 percent from a year ago, reaching $30.6 million in its second quarter ending June 30.

Vibra Bank Reports Q2 Results

Vibra Bank, based in Chula Vista and a single office, reported a second quarter loss of $26,000, compared to net income of $61,000 for the like period of 2013.

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Portfolium Funding Is Part of EvoNexus' Recent Successes

EvoNexus, the incubator of CommNexus, the area’s nonprofit trade group for the high-tech industry, said one of its portfolio companies Portfolium recently closed a $900,000 seed round of investment from the Tech Coast Angels and other San Diego-based investors.

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'Mister A’s Building’ at Bankers Hill Gets New Owners

San Diego-based investment firm BBL Commercial Real Estate and Westbrook Partners of New York City have purchased the Fifth Avenue Financial Center in Bankers Hill, better known locally as “The Mister A’s Building,” BBL officials announced.

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Correlation Ventures Adds 8 New Portfolio Companies in Q2

Correlation Ventures, a San Diego venture capital firm that invests only with other venture firms and has deployed $166 million, said it added eight new portfolio companies during the second quarter of this year, bringing the total number of companies it’s funded to 88.