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

Evolution of Samuelis’ Record Gift to UCI

$200M to Propel Integrative-Health ApproachWhen Henry and Susan Samueli first started their foundation in Corona del Mar in 1998, integrative health was one of the two areas of focus.

Konica Completes Ambry Buy

Japanese printer maker Konica Minolta Inc. and Innovation Network Corporation of Japan (INCJ) closed their joint acquisition of genetic diagnostics company Ambry Genetics Corp., in Aliso Viejo.

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September Unemployment Down

The September unemployment rate in Orange County was 3.6%, down from a revised 4.2% in August and lower than a year-ago estimate of 4%.

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PHG Names CFO, Ops Role; Moves GM

Pacific Hospitality Group in Irvine named Kent Crandall chief financial officer, hired a senior vice president of operations to report to COO Robb Walker, and shifted a GM to its Paséa resort.

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16 Franchisers Hit List

Several OC-based franchise systems made the 2017 Franchise Times 500 list, which ranks companies by 2016 systemwide sales.

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Del Taco Revises Full Year

Del Taco Restaurants Inc. in Lake Forest reported higher revenue and net income in its third quarter compared with the same period last year, but revised some projections downward for its full-year performance and shares fell about 20% in Friday trading to a $473 million market cap.

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HyperX Nets First NBA Sponsorship

The gaming division of Fountain Valley-based Kingston Technology Inc. has been named the official headset partner of the Philadelphia 76ers.

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Ad Shop Bought

Newport Beach-based digital marketing agency ymarketing was acquired by Sandbox in Chicago on undisclosed terms.

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Kaiser Aluminum Misses

Kaiser Aluminum Corp. reported revenue and earnings for the September quarter that fell below Wall Street expectations.

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Opus’ Credit for Weinstein Scrutinized

Investors are scrutinizing Irvine-based Opus Bank for its credit lines given to the notorious Hollywood filmmaker The Weinstein Company.

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Stearns Cuts Third of OC Workforce

Stearns Lending LLC, one of the nation’s largest non-bank mortgage lenders, is cutting 159 jobs, about a third of its workforce in Orange County.

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First Foundation Names Bank COO

First Foundation Inc. (Nasdaq: FFWM), an Irvine-based bank and wealth manager, promoted Lindsay Lawrence to a new position of chief operating officer of its banking unit.

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Q3 VC Investments Fall

Venture capital investments in Orange County declined to $178 million in the third quarter, the lowest amount since the first quarter of 2016, according to the VentureSource report from Dow Jones.

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Tech Vet Elevated at Ubiquity

Irvine-based Ubiquity, Inc. said Robert Fernander has been appointed chairman of its board of directors.

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ChromaDex Hires Ex-Mattel CFO

Irvine-based ChromaDex Corp., a maker of ingredients for dietary supplements, hired Kevin Farr as its new chief financial officer, effective immediately.

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SJC Office Products Maker Sold

Smead Manufacturing Co. Inc. bought U Brands LLC on undisclosed terms.

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Fashion Show Harvests $1M for Hunger

Anniversaries are good for giving. On the silver anniversary of South Coast Plaza’s Harvesters Fashion Show in the golden-anniversary year of the mall, the show took in more than $1 million.

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Alorica Names CFO

Irvine-based Alorica Inc., the world’s third-largest provider of customer service solutions and the largest in the U.S., announced the appointment of Cindy Fiorillo as chief financial officer, replacing James Molloy.

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EnteroMedics Buys OC Company

St. Paul, Minn.-based EnteroMedics Inc. acquired ReShape Medical Inc. in San Clemente for $61 million cash and stock.

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Botox Approved for Forehead Lines

Allergan PLC received Food and Drug Administration approval to use Botox to temporarily reduce moderate to severe forehead lines.

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CareTrust Completes Skilled Nursing Buy

CareTrust REIT Inc. of San Clemente completed a two-stage acquisition comprised of seven skilled nursing facilities in Idaho.

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San Clemente ‘Kid’ Nets Big Catch on Shark Tank

The 12-year-old creator of a skateboard that fits into school lockers and backpacks received a $65,000 investment from Sir Richard Branson for a 20% stake in a company he created with his parents on the season premiere of “Shark Tank,” last night.

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Biolase Seeks $12M

Biolase Inc. plans to raise up to $12 million with a rights offering to current shareholders.

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Smart Camera Co. Gets $5.4M

Opkix Inc. in Costa Mesa said it raised $5.4 million in Series A funding, and it now has a value of $90 million.

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PHG Sells Bacara

Irvine-based Pacific Hospitality Group has sold of one of its high-end hotel properties, Bacara Resort & Spa in Santa Barbara County.

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CalAmp Up on Earnings

Shares of CalAmp Corp. (Nasdaq: CAMP), an Irvine-based maker of Internet-connected products, rose as much as 9.3% after reporting fiscal second-quarter revenue that topped analyst estimates.

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