Orange County Business Journal

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

Q1 Profit Up for Subprime Auto Lender

Shares of Irvine-based automobile financing company Consumer Portfolio Services Inc. jumped more than 8% in morning trading on an announcement of better-than-expected first-quarter financial results, reaching a market value of about $185 million.

By Jane Yu April 9, 2014 9:04 a.m.   Share
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OC Jobless Rate Down to 5.8%

Orange County’s economy added 3,500 jobs in March, when the unemployment rate dipped to 5.8% from 5.9% the month prior and 6.4% a year earlier.

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OC Sees Rise in VC Money for Q1

Orange County companies drew $188.2 million in venture capital funding in the first quarter, a 29% increase from the year-earlier period.

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Opus Sets IPO at $30 Per Share

Opus Bank has priced its initial public offering of common stock at $30 a share.

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Opus Sets IPO at $30 Per Share

Opus Bank has priced its initial public offering of common stock at $30 a share.

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Plaza Bank Profit Up in Q1

Irvine-based Plaza Bank reported first-quarter net income of $1.7 million, a 36% increase from the year-earlier period.

Questcor Expected to Stay After $5.6B Sale

HEALTHCARE: Anaheim company to continue operations as own unit

It appears that the local operations of Questcor Pharmaceuticals Inc. would remain intact in the wake of Mallinckrodt PLC’s $5.6 billion proposed buyout of the Anaheim-based drug maker—the largest deal so far in what’s shaping up to be a busy year for mergers and acquisitions involving Orange County-based companies.

New Private Equity Firm Raises $10M

Recently formed private equity firm Lotus Innovations LLC has raised $10 million for its first fund, which focuses on early-stage information technology companies.

Apartment Boom Helped Fuel Opus Bank’s Rise

FINANCE: Biggest in assets gives details in IPO filing

Add Irvine-based Opus Bank to the list of local landlords, developers, land owners and other companies benefiting from the red-hot apartment market of recent years.

Advantage Sales to Go on Auction Block?

The parent of Irvine-based Advantage Sales & Marketing was looking into a sale of the company in a deal that could range from $3 billion to $4 billion, according to a Reuters report.

Aliso Viejo Device Maker Gets $20M

Aliso Viejo-based medical device maker Sequent Medical Inc. raised $20 million in venture capital funding.

Clean-Tech Company Raises $9.2 Million

Irvine-based clean technology company Newlight Technologies, which converts greenhouse gases into plastics, has raised $9.2 million in its latest funding round.

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Report: Advantage Sales & Marketing On Sales Block

The parent of Irvine-based Advantage Sales & Marketing is looking into a sale of the company in a deal that could approach $4 billion, according to a Reuters report.

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Sequent Medical Raises $20M

Aliso Viejo-based medical device maker Sequent Medical Inc. has raised $20 million in venture capital funding.

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Pac Merc Gets New CCO

Costa Mesa-based Pacific Mercantile Bancorp has named Robert Stevens chief credit officer of the company and its Pacific Mercantile Bank subsidiary.

CSUF Index: Outlook About Flat for Q2

ECONOMY: Continues to ease off all-time high notched last year

Orange County business owners and executives enter the second quarter with a virtually unchanged outlook on the economy, according to the latest quarterly index of business expectations published by the Mihaylo College of Business and Economics at California State University-Fullerton.

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Opus Sets Price Range on IPO

Irvine-based Opus Bank has announced specifics of its plans for an initial public offering, which will include about 5.7 million shares of common stock priced between $31 and $34.

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Laguna Hills PE Firm in Deal for Video Technology Developer

Laguna Hills-based private equity firm Parallax Capital Partners LLC has joined another investor in acquiring DivX LLC in San Diego.

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SJC Camera Maker in Merger Agreement

San Juan Capistrano-based network camera manufacturer IQinVision has agreed to merge with Vicon Industries Inc. in Edgewood, N.Y. in an all-stock transaction.

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Irvine Investor Adds RSM Restaurant

Irvine-based American Restaurant Holdings Inc., an investor in restaurants and food manufacturing companies, has acquired Canyon Fireside Grille on undisclosed terms.

Facebook’s OC Focus

$2B Deal on Heals of Google Hookup With Oakley

Orange County gave Silicon Valley and the rest of the world plenty to talk about in a 24-hour burst last week.

No IPO, No Problem for City Ventures

REAL ESTATE: Homebuilder raises $345 million with land sales

City Ventures Inc. has shown that there are other ways to raise money, even as some fellow Orange County-based homebuilders have opted to join a recent trend of initial public offerings.

Zuckerberg’s Reality

Facebook Inc.’s eye-popping $2 billion acquisition of Irvine startup Oculus VR Inc. is a long-term bet on the future of computing, Mark Zuckerberg told analysts last week.

Gordon’s Opus

From Recapitalization to $4B in Assets, Eye on More

Stephen Gordon was unabashedly proud of the company he kept at the Business Journal’s 13th Annual Excellence in Entrepreneurship Awards.

Startup Device Maker Raises $32.5M

Irvine-based Axonics Modulation Technologies Inc. completed a $32.5 million first round of financing.