FINANCERecent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...
$325M in Funding, Hiring Spree Point to National Network of Small Cell Base Stations
A just-completed $325 million fundraising deal for Mobilitie LLC comes as the Newport Beach-based wireless infrastructure company is gearing up for what it is calling the “largest network deployment initiative in the U.S.”
REAL ESTATE: First project outside state resembles Meridian in Newport
The New Home Co. has inked a deal to build an upscale housing project in the Phoenix area, its first development outside California.
REAL ESTATE: Pegged for 626 homes; deal estimated at $190M
A China-based homebuilder looking to diversify its operations into the U.S. has bought a big development site in Lake Forest.
TECHNOLOGY: Follows sale of stake to same company
Western Digital Corp.’s ongoing push into more lucrative storage products geared for corporate customers got a boost last week in another deal with China-based information technology provider and electronics manufacturer Unisplendour Corp.
HEALTHCARE: Kybella seen as next ‘pipeline in a product’ for drugmaker
Allergan PLC’s operations in Irvine appear poised to remain front and center in the drugmaker’s research and development endeavors.
Regulations, while they remain a common key challenge for all financial institutions, aren’t the only burden on bankers’ minds. There are other concerns that may be specific to a bank or credit union, including its size, customer base, and other factors. The Business Journal’s Jane Yu asked local bank and credit union executives to discuss their current concerns other than regulations. Their responses touch upon a variety of topics, ranging from data security and competition from online lenders to finding skilled talent and catering to younger generations. Here are edited excerpts of their responses:
20 Institutions Based Here See 38% Increase to $24.2 Billion
Orange County-based commercial banks have recorded the biggest year-over-year increase in assets in more than 10 years.
25 Biggest Combine For 8% Increase to $18 Billion
The biggest local credit unions have picked up the pace of growth, notching an 8% increase in combined assets to $18 billion.
FINANCE: Latino market specialist now in 17 states
Fast-growing insurance brokerage firm Confie is reportedly on the sales block.
REAL ESTATE: Insurer adds 3rd office building in JWA area
The real estate investment arm of John Hancock Life Insurance Co. has added a pair of office buildings in Newport Beach to its growing local portfolio.
Costa Mesa-based wastewater solids reduction and removal company JWC Environmental acquired IPEC Consultants in Canada on undisclosed terms.
Laguna Beach-based virtual reality startup NextVR Inc. raised $30.5 million in a Series A funding round that included a mix of sports- and entertainment-related firms.
Irvine-based startup Pop raised $6 million in venture capital funding.
Shareholders of Habit Restaurants Inc. plan to sell up to 5.75 million shares for an estimated $137.7 million, a Securities and Exchange Commission filing shows.
Manufacture of Parts For Others ‘Outperformed’
Making parts for other manufacturers is paying off for San Clemente-based ICU Medical Inc.
8 Acres a Few Blocks From Former Beckman HQ
Western Realco has added another property in Fullerton—and another site with ties to medical testing company Beckman Coulter Inc.—to its industrial development pipeline.
St. Louis-based Shoes.com said it acquired socks and apparel brand Richer Poorer Inc. in San Juan Capistrano on undisclosed terms.
The publisher of the Orange County Register has received a third loan offer to help it maintain operations while it goes through a bankruptcy auction.
LoanDepot Inc. has withdrawn its initial public offering.
Emerald Expositions LLC in San Juan Capistrano acquired National Industrial Fastener & Mill Supply Expo from the show’s co-owners, Jim Bannister and Mike McGuire, for an undisclosed amount.
Costa Mesa-based El Pollo Loco Holdings Inc. reported mixed results in its most recent quarter and cut its full-year outlook on earnings and same-store sales.
Laguna Beach-based virtual reality startup NextVR Inc. has raised $30.5 million in a Series A funding round led by mix of sports- and entertainment-related firms.
A car auction at the Anaheim Convention Center that starts tomorrow expects to draw 20,000 attendees and several hundred sellers of classic and antique cars, generating sales of about $20 million by the time the last gavel drops.
Yogurtland has hired four executives to lead corporate and regional operations, marketing and brand management following the summer departure of Craig Takiguchi, who led these areas as vice president of brand management.
U.S. District Court Judge David Carter of Santa Ana has declined a request from Valeant Pharmaceuticals International Inc., led by Chief Executive Mike Pearson, and activist investor Bill Ackman to dismiss a lawsuit accusing them of insider trading in shares of Allergan Inc.