Orange County Business Journal

FINANCE

Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...
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Subprime Auto Lender in Deal, Loses Irvine HQ

The owner of CarFinance Capital LLC is combining the Irvine-based subprime auto lender with another such company in its portfolio.

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Irvine Mortgage Bank Sold

Irvine-based mortgage lender American Interbanc Mortgage has been acquired by Seashine Financial LLC, also in Irvine.

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LoanDepot Buys Massachusetts Firm

Foothill Ranch-based mortgage lender loanDepot.com LLC has acquired Mortgage Master Inc. on undisclosed terms.

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UCI Develops Faster Blood Test

University of California-Irvine researchers have developed a new bloodstream infection test technology to speed up accurate diagnosis of ailments including Ebola, the school said.

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It’s Official: Broadcom to Great Park

Irvine-based chipmaker Broadcom Corp. made its long-rumored move to the Great Park Neighborhoods official, agreeing to buy land to design and build a new 1.1 million square foot corporate headquarters, the company said.

New Mitsubishi Finance Head Named

Mitsubishi Motors North America Inc. in Cypress appointed Dan Booth president of its financing arm, Mitsubishi Motors Credit of America Inc.

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Allergan, Actavis in “Advanced Talks”

Irvine-based drug maker Allergan Inc. is in advanced negotiations with potential “white knight” suitor Actavis PLC, according to a Bloomberg report.

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OrthAlign Gets $15 Million

Aliso Viejo-based device maker OrthAlign Inc. completed a $15 million round of funding. The company makes devices used in orthopedic procedures.

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Irvine-Based Cosmetics Firm Reportedly in Play

Too Faced Cosmetics LLC in Irvine “is exploring a sale that could value it at several hundred millions of dollars,” according to Reuters.

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ICU Surges on Earnings Revision

San Clemente-based ICU Medical Inc.’s stock shot up today after it forecast stronger financial results for the full year.

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LB Couple Gives $9M to UCLA

B. John and Amelia Garrick of Laguna Beach have given $9 million to the University of California-Los Angeles for a new engineering center.

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El Pollo Loco Insiders to Sell 6M Shares

El Pollo Loco insiders plan to sell 6 million shares, according to a U.S. Securities and Exchange Commission filing yesterday.

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Quiksilver Sells Retailer to Rival

Quiksilver Inc. has sold online retailer Surfdome.com in the United Kingdom to Australia-based rival SurfStitch for $45 million, according to the Australian Financial Review.

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Habit Sets IPO Terms

Irvine-based the Habit Restaurants Inc. plans to offer 5 million shares priced at $14 to $16 a share in its initial public offering, according to updated filings with the U.S. Security and Exchange Commission.

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Chapman Indie Film Rights Sold

A film made by Chapman Filmed Entertainment LLC has sold U.S. distribution rights for a “mid-six figures” amount to ARC Entertainment, according to news reports.

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Hoag Gives $3.7M to Senior Center

Hoag Memorial Hospital said today it donated $3.775 million to the new Huntington Beach Senior Center in the Park.

Stifel Steps Up in Newport Center

REAL ESTATE: Takes full floor at Irvine Company’s newest office

Bill Gross might have the highest profile among the first batch of tenants at Irvine Company’s newest office building in Newport Center, but Stifel, Nicolaus & Co. can claim the highest perch at the 21-story building.

Greenlaw Near Deal on BofA’s Brea Campus

An investment group that includes Irvine-based real estate investor and developer Greenlaw Partners is nearing a deal to buy the massive Bank of America office campus in Brea.

Therapy Vets Can Embrace

Laguna Hills Nonprofit Taps Business on Mission to Heal

U.S. Marine Sgt. Chris Merkle was one of 20 infantrymen crowded into the back of an unarmored 7-ton truck as it sped along an unmarked dirt road one moonless night headed toward Baghdad.

Working Wardrobes’ Transition Plan

James Toth was living with his parents and working odd jobs for cash that offered little security and no future.

Plenty in Play Around South Coast Metro; Don’t Forget the Vet

A trot around the South Coast Metro district that covers corners of Costa Mesa and Santa Ana reveals several sizeable chunks of property in a state of flux.

Investors Adapt to Changes in Post-Recession Market

‘Opportunistic’ Real Estate Scarce, Competition Stiff

Opportunity is still knocking for many of Orange County’s most active commercial real estate investors of the past five years, but it has required a decided shift in strategy.

Gerrity Lists Brea, Mission Viejo Retail Centers for Sale

Properties, 12 Others Could Fetch $500 Million

Shopping centers in Mission Viejo and Brea are part of a portfolio of West Coast retail properties that are on the block and could sell for nearly $500 million.

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Irvine Insurance Brokerage Acquired

Irvine-based NuWest Insurance Services Inc. has been acquired by Marsh & McLennan Agency LLC on undisclosed terms.

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El Pollo Loco Sales Up, Revs In Line

Costa Mesa-based El Pollo Loco Holdings Inc. reported higher same-store sales and revenues in line with analysts' expectations.