Seacoast Commerce Bank, which amazingly is now the fourth largest community bank headquartered in San Diego, reported third quarter net income of $1 million, up 300 percent from the net income for the same quarter of last year.
Stone Brewing Co., the Escondido juggernaut that recently struck deals to build breweries in both Virginia and Berlin, said it plans to open a distribution center in Vista for its national clients.
A phased-in minimum wage increase required of businesses located in the city of San Diego that would have raised the wage from $9 to $11.50 by 2017 will be put to a public vote on June 2016 following a unanimous 9-0 vote by the San Diego City Council.
FINANCE: TJLS Trying To Restructure Its Debt
Thomas Jefferson School of Law obtained another extension from bondholders to the end of this month to negotiate a new agreement following the school’s default in June on $133 million of outstanding debt.
TECHNOLOGY: Big Growth In Legal Data Services
Abacus Data Systems Inc. is seeing explosive growth in both its staffing and revenue this year, as more law firms adopt its private cloud platform that lets firms focus on legal services rather than managing their data systems.
San Diego-based Sempra Energy said some 300 community and business leaders turned out for the Oct. 23 groundbreaking ceremony in Hackbery, La., for its Cameron $10 billion liquid natural gas export facility.
San Diego Private Bank, which just announced the acquisition of all the loans and deposits of First Security Business Bank, reported third quarter net income of $723,000, up 58.6 percent from the like quarter of last year.
Alaska Airlines said it is adding new nonstop flights from San Diego to Kona, Hawaii, starting March 5.
San Diego Private Bank, which merged with Coronado First Bank in April 2013, is expanding again, having signed a definitive agreement to acquire all of the loans and deposits of First Security Business Bank, a one-office industrial bank in Orange.
Vibra Bank, based in Chula Vista and with one branch, reported third quarter net income of $305,000, compared to net income of $134,000 for the like quarter of 2013.