SD FINANCE

LoanHero Brand 'Retired' Post-Acquisition

Derek Barclay, cofounder of LoanHero, is relocating to Georgia, where LendingPoint is headquartered.

National Security Concerns Prompt U.S. Government Panel to Investigate Broadcom Bid for Qualcomm

Qualcomm investors were slated to vote March 6 on whether to give Broadcom a majority on Qualcomm's board of directors. The Committee on Foreign Investment in the United States has ordered the meeting delayed.

Ignite Conference Part of UCSD’s Expanding Entrepreneurial Efforts

Certain California universities have a reputation for churning out companies in addition to ground-breaking research.

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Bank of Southern California to Buy L.A.-Based Bank

San Diego’s Bank of Southern California plans to buy a Los Angeles-based bank in a cash-and-stock deal valued at about $44.1 million, a move that would create a new company with about $750 million in total assets. The bank it plans to acquire, Americas United Bank, was founded in 2006 by a group of Los Angeles-based entrepreneurs.

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Silvergate Bank Reports Record Net Income

Silvergate Bank has reported net income of $8.7 million in 2017, the highest in the bank’s history and about 7 percent higher than its 2016 total, $8.1 million.

Encore Capital Reports Net Income of $83.4M

Encore Capital Group Inc., a San Diego-based company that buys and sells credit card debt, reported 2017 net income of $83.4 million on total revenues of $1.2 billion.

Guild Mortgage’s Loan Volume Down Slightly

San Diego lender Guild Mortgage has reported overall loan volume of $15.94 billion for 2017, down less than 1 percent from $15.96 billion in 2016.

Doggie Gras’ Canine Couture Pays Off for Animal Center

Helen Woodward Animal Center announced it put on its Sixth Annual Doggie Gras Parade that showcases its “orphaned” pets by marching into the farmers market in Rancho Santa Fe. The event invited participants to support animal rescue “Mardi Gras-style” by creating colorful costumes and parade floats for the participating animals.

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Entrepreneur in Carlsbad Envisions Part Incubator, Part Coworking Space

Jeran Fraser knows what it’s like to be an entrepreneur.

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Okogen Receives $10 Million for Pink Eye Treatment

San Diego’s Okogen received $10 million in Series A funding to advance the company’s lead candidate for viral conjunctivis, commonly known as pink eye.

Kratos to Sell Division, Reports $752M in Annual Revenue

Kratos Defense & Security Solutions Inc. announced a plan to sell its Public Safety & Security Division to Securitas Electronic Security Inc.

Congressman: Broadcom-Qualcomm Might Have National Security Implications

Members of Congress have called for a federal review of Broadcom Ltd.’s proposed acquisition of Qualcomm Inc. and Reuters reports that such a review has already begun.

2 LA-Area Banks With SD Branches to Merge

The merger, pending regulatory approval, will boost First Choice assets to $1.5 billion.

Silvergate Bank Raises $114M in Private Placement

About 10 percent of the capital raised will be used for a share repurchase.

Qualcomm Seeks Third Meeting as Broadcom Questions Sincerity

Representatives of Qualcomm Inc. and Broadcom Ltd. met for a second time on Feb. 23 to discuss Broadcom's bid for the San Diego company. The landscape has changed now that Qualcomm is offering more to buy NXP Semiconductors.