Orange County Business Journal

FINANCE

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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Pacific Premier Grows Assets, Profits in Q1

Irvine-based Pacific Premier Bancorp Inc. reported net income of $2.6 million for the first quarter, a 33% increase from the same period a year earlier.

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Allergan Adopts Poison Pill Defense

Irvine-based drug maker Allergan Inc. has adopted a stockholder rights plan in response to a hostile takeover bid by Valeant Pharmaceuticals International Inc. and activist investor Bill Ackman.

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Banc Buys Popular Community’s California Branches

Irvine-based Banc of California Inc. has agreed to buy the California branch network of Popular Community Bank for $5.4 million.

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Bid for Allergan Now ‘Hostile’

Valeant Pharmaceuticals International Inc. will take its bid for Allergan Inc. directly to the Irvine-based drug maker’s shareholders.

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Valeant Sets Bid at $47B

Valeant Pharmaceuticals Inc., an unsolicited suitor of Irvine-based drug maker Allergan Inc., has set its bid for the acquisition at $47 billion.

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Allergan Subject of Takeover Bid

Shares of Irvine-based drug maker Allergan Inc. jumped in after-hour trading today on reports of a takeover offer by Valeant Pharmaceuticals International Inc. and activist investor William Ackman.

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Q1 Profit Up for Cal Republic Bank

Irvine-based California Republic Bancorp announced first-quarter earnings of $3 million, compared with about $82,000 in the year-earlier period.

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First Foundation Files for IPO

Irvine-based financial services company First Foundation Inc. has filed for an initial public offering of its common stock.

Stem Cell Deal Puts Manufacturing Might on Keirstead’s Side

HEALTHCARE: Pioneer’s startup to operate here as unit of N.Y. owner

Manufacturing is the key to the vast potential of stem cells.

Hitachi Solutions Acquires S.C. Company

Irvine-based Hitachi Solutions America Ltd. bought Customer Effective in South Carolina on undisclosed terms.

Rakuten Brand on New Credit Card

The parent of Aliso Viejo-based e-commerce company Rakuten.com Shopping launched a credit card for its U.S. subsidiary.

ADDENDUM -- Week of April 21

Adventure City amusement park is adding a roller coaster that’s scheduled to open late summer. Rewind Racers, a $2 million coaster, will move both backward and forward. The two-acre park straddles the Stanton and Anaheim city line.

Q&A: Weighing the Value of Human Capital

Reporter Jane Yu asked a group of local chief financial officers—among the latest recipients of the Business Journal’s CFO of the Year Awards—how human capital relates to corporate performance and growth. How do companies measure human capital, and how do they assess returns on investment? The CFOs also addressed their plans for human-capital investments. Here are their edited responses.

CFO Role Widening, Businesses Need Help Filling It

Search Firms Busy Looking for Harder-to-Find Candidates

Executive search firms in Orange County that specialize in placing finance chiefs are getting stronger demand for their services.

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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.