San Diego Business Journal

SD FINANCE

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

Rojeck Assumes Chair Role for Certified Financial Planner Board of Standards

San Diegan Richard Rojeck has begun his role as Chair of the Board of Directors for Certified Financial Planner Board of Standards Inc., a nonprofit organization that certifies more than 71,000 professionals as Certified Financial Planners.

City National Bank to be Acquired for $5.4 Billion

City National Bank, based in Los Angeles and with seven offices in San Diego, said it signed a definitive agreement to be acquired by Royal Bank of Canada in a stock and cash deal valued at $5.4 billion.

Solana Beach Investment Firm Promotes Three Top Staffers

Gurtin Fixed Income Management LLC, a Solana Beach-based investment firm specializing in municipal bonds, promoted several top staffers as it grows its team.

Silvergate Capital Obtains $8 Million Stock Investment

Silvergate Capital Corp., parent company to San Diego-based Silvergate Bank, obtained $8 million in a stock investment from BankCap Partners, a Dallas-based private equity firm, at the end of last year, providing funds for expanding and for repurchasing existing stock, said CEO Alan Lane.

Seacoast Commerce Banc Reports Q4 Net Income of $830,000

Seacoast Commerce Banc Holdings, the parent company for Seacoast Commerce Bank, reported 2014 fourth-quarter net income of $830,000, compared to net income of $251,000 for the same quarter in 2013.

One Roof Energy Group Announces Investors for Financing

One Roof Energy Group Inc., a San Diego provider of solar energy financing services, said investors in a planned $15 million convertible notes financing include existing investors Black Coral Capital and Spindrift Equities LLC as well as certain other unaffiliated investors.

When It Comes to Auto Loans, Credit Unions Are On Board

FINANCE: Auto Lending Up 44% At Local Institutions

Credit unions are benefiting from a national trend of consumers replacing their aging vehicles and borrowing money at historically low interest rates.

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Mortgage Assurance

Local Credit Unions See Growing Market For Mortgage, Home Equity Lending

Once known primarily for making auto loans, more credit unions are expanding their mortgage lending, taking up some of the slack created from banks exiting the business.

Healthy North Island Credit Union Ready to Ramp Up Lending

Like a lot of businesses, North Island Credit Union (NICU) has been through some difficult times.

Canter Cos. Launches Wealth Management Division

Canter Cos., a San Diego full-service investment and real estate firm founded in 2007, launched a new division, Canter Strategic Wealth Management, which aims to bridge the gap between real estate services and investment opportunities.

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LaSalle Joins IDEA1 Development Venture in East Village

Chicago-based LaSalle Investment Management has joined the development venture working on the previously announced, $90 million IDEA1 mixed-use development in downtown San Diego’s East Village.

TVC Capital Closes $115 Million Fund

San Diego-based TVC Capital, a software-focused growth equity firm, announced the closing of TVC Capital III with $115 million in capital commitments.

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Barney & Barney Names Berk Its New CFO

San Diego-based Barney & Barney Insurance Services LLC, a division of Marsh & McLennan Agency LLC, named Steven Berk its new chief financial officer.

Guild Mortgage Opens Operations Center in Reno, Nev.

Guild Mortgage Co., the San Diego private mortgage bank, said it opened an operations center in Reno, Nev.

Encore Capital Agrees to Settlement with New York AG's Office

Encore Capital Group Inc., the San Diego buyer and collector of charged off credit card debt, agreed to a settlement with the New York State Attorney General’s office over allegations of using improper debt collection methods against thousands of New York consumers, the office said.