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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Opus 1Q Profit Up 56%

Irvine-based Opus Bank posted $17.3 million in first-quarter net income, up 56% from the same period a year earlier.

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PHG to Add 145 Rooms in Napa

Irvine-based Pacific Hospitality Group plans to break ground April 29 on a four-story, 145-room hotel across the street from its Meritage Resort & Spa in Napa, according to a local news report.

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BJ’s Profit Up 21%

Shares in Huntington Beach-based BJ’s Restaurants Inc. jumped about 9% to a market cap of $1.1 billion in Friday morning trading following a positive quarterly report after markets closed yesterday.

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Allergan Makes $85M Buy

Allergan Plc bought Topokine Therapeutics for $85 million and certain milestone payments.

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Acorns Raises $30M Series D

Irvine-based Acorns Grow Inc. raised $30 million in Series D funding that includes investments from Palo Alto-based PayPal and Rakuten Fintech Fund, the investment arm of an e-commerce company in Tokyo.

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PacPremier Profit, Loans, Deposits Up

Shares in Irvine-based Pacific Premier Bancorp Inc. closed up 1.7% to $21.68 and a market cap $597 million after the company reported first quarter net income of $8.6 million, a 387% increase from the same period a year ago.

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Chinese Company Buys in Santa Ana

Santa Ana-based point-of-sale terminal maker ExaDigm Inc. merged on undisclosed terms with Shenzhen Xinguodu Technology Co., Ltd., a China-based maker of POS systems and electronic payments products.

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Kaiser Aluminum Misses on Revenue

Shares in Foothill Ranch-based Kaiser Aluminum Corporation close down about 1% to $86.58 and a market cap of $1.6 billion after the company reported first quarter net income of $26 million.

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Busch Family Gives $15M

The Busch Family Foundation in Irvine gave $15 million to Catholic University of America, news reports said.

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SJC Company Buys in Europe

San Juan Capistrano-based toilet component maker Fluidmaster, Inc. acquired on undisclosed terms WISA BV, a restroom components designer and maker in the Netherlands.

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Santa Margarita Toyota Sold

Jim Graham, owner of Santa Margarita Ford, acquired Santa Margarita Toyota from John Dinsmore.

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Unemployment Unchanged

Orange County added 8,800 jobs in March to maintain a 4% unemployment rate.

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Stone Firm Enters Two States

Anaheim-based Bedrosians bought Oregon Tile & Marble, in Medford, Ore.

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Anaheim Food Co. Names CEO

Anaheim-based food maker Nellson Nutraceutical named Jamie Better its Chief Executive.

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Opus Makes $104M Buy

Irvine-based Opus Bank bought PENSCO Trust Company, an IRA services firm in San Francisco, in a cash and stock deal worth about $104 million.

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Johnny Rockets in Rebranding

Johnny Rockets Restaurant Group plans to recast the retro burger chain for a changing customer base.

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Appraiser Buys in Reno

Orange-based real estate appraisal company LRES acquired InsideValuation, a commercial and residential appraisal company in Reno, Nevada, on undisclosed terms.

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Textile Maker Sold to Ohio PE Firm

Irvine-based textile supplier Momentum Group has been acquired on undisclosed terms by private equity company the Riverside Company, which is headquartered in Cleveland, Ohio.

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CoreLogic Names New CFO

Irvine-based CoreLogic Inc. said James Balas is its new Chief Financial Officer.

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RSM Data Firm Raises $6.7M

Rancho Santa Margarita data analytics software maker Compellon has raised $6.7 million in a Series A funding round.

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UCI Gets Grant for Physics Majors

The National Science Foundation has awarded approximately $1 million to the University of California-Irvine for research to discern the best ways to support low-income students who want to major in physics and for scholarships for these students.

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Golden State Buys Out KanPak

Golden State Foods bought the portions of two companies it has held controlling interests in since 2013.

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PacSun Files BK

Pacific Sunwear of California Inc. in Anaheim filed for bankruptcy protection and said it will convert debt into equity for creditor Golden Gate Capital.

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NB Accounting Firm Makes Buy

Newport Beach–based accounting firm Anton & Chia LLP has acquired the U.S.-reporting clients of McCormack Su & Company in Vancouver, Canada.

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Allergan Still on Hunt for Deals

Allergan PLC Chief Executive Brent Saunders said today that the drug maker will continue to seek “growth pharma” deals—including possible acquisitions that would complement its Irvine hub for Botox, ophthalmology and medical aesthetics—after the termination of its $160 billion mega-deal with Pfizer Inc.