Orange County Business Journal


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


Chase Bank is laying off 168 employees from its mortgage operations in Irvine by early March.

Affliction Exec Buys Observatory Theater in Santa Ana

$10M Deal Includes 47,319-SF Office

A cofounder of apparel company Affliction Inc. has bought the Santa Ana building that holds the Observatory OC concert venue where he’s an investor, as well as an adjacent office.

Pair of Tech Companies Improve Cash Positions

Quantum, Netlist Avoid Delistings, Build Up

Two Orange County technology companies that faced delistings on the Nasdaq exchange last year have recently raised money in public offerings to shore up their cash positions.

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Clean Energy Misses Q4 Estimates

Newport Beach-based Clean Energy Fuels Corp. on Thursday reported revenue and adjusted profits for the fourth quarter that missed Wall Street expectations.

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Chase to Cut 168 Jobs at OC Mortgage Unit

Chase Bank is laying off 168 employees from its mortgage operations in Irvine by early March.

Gross Miscalculation?

Recent Returns Counter Critics’ Rush to Strip Bond King of Crown

Recent Returns Counter Critics’ Rush to Strip Bond King of Crown

American Security Bank Sells for $57M

Newport Beach-based American Bancshares Inc. agreed to sell its American Security Bank subsidiary to CVB Financial Corp. for $57 million.


A bankruptcy judge approved Wanxiang America Corp.’s $149.2 million bid for the sale of Costa Mesa-based Fisker Automotive Inc. The offer by Wanxiang, part of China-based auto parts company Wanxiang Group Corp., beat Fisker’s senior secured lender, Hybrid Tech Holdings LLC, in the auction. Hybrid Tech is affiliated with Hong Kong billionaire Richard Li.

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Billabong Narrows Loss, Updates Market on Turnaround

The parent of Irvine-based Billabong USA saw its fourth consecutive half-year loss.

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Irvine Cybersecurity Company Raises $20M

Irvine-based cybersecurity software company Cylance Inc. raised $20 million from Blackstone Group LP in New York, Khosla Ventures and Fairhaven Capital, along with other private investors.

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NB Activist Firm Names Slate for A&F Board

Newport Beach-based activist investor Engaged Capital LLC has nominated five candidates for the board of Abercrombie & Fitch Co.

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Opus Adds Private Equity, Correspondent Banking Divisions

Opus Bank has formed a private equity group and a corporate-finance division, the latest efforts by the Irvine-based bank to expand its investment-banking business.

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American Security Bank Sold for $57M

Newport Beach-based American Bancshares Inc. has agreed to sell its American Security Bank subsidiary to CVB Financial Corp. for $57 million.

$250M Worth of Deals Bring New Life to Central OC ‘Zombies’

REAL ESTATE: Starwood, CIM, Torchlight buy into office recovery

There’s a new set of owners overseeing four of the most prominent office buildings on the skyline of Orange and Anaheim following a series of sales that reached about $250 million combined.

Gross Swats Peanut Gallery; Marblehead Update; Jacobi’s Gig

OC INSIDER Column by Jerry Sullivan

Argyros Trust Nominates 2 to DST Board

The Argyros Family Trust nominated private equity investor John Clark to the board of directors of DST Systems Inc., where the trust is the largest shareholder and George Argyros serves as a director.

Park With Vans HQ Sells for $60 Million

A two-building industrial park in Cypress that holds the headquarters of apparel company Vans Inc. sold for $60 million.

Q&A - Wealth Management Firms

A general rise in life expectancy has been the focus of many a conversation among wealth managers and their clients of late, regardless of how far the clients may be from planned retirement.

GenSpring Taps Deeper Into Abundant California Wealth

WEALTH MANAGEMENT: Family Office Grows in West

GenSpring Family Offices LLC is expanding the role and reach of its regional headquarters in Costa Mesa as it bolsters its service to the wealthy in California and the rest of the West.


Philanthropy Column by Kim Haman

Kofax Makes Grade After Its Initial Public Offering

Double-Digit Growth Seen in New Software Package

Irvine-based business software maker Kofax Ltd. received good early grades from two investment firms that recently initiated coverage.

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Broadcom Mum on HQ Plan, Has Irvine Options Open

Short-Term Deals Possibility For Chipmaker?

Irvine city officials have acted as though it’s a fait accompli, but regulatory filings of Broadcom Corp. continue to suggest that a move of the chipmaker’s headquarters to a new office development at Orange County Great Park is not set in stone.

Office Market in Los Angeles Region Posts Strong Year


The Greater Los Angeles office market had a strong year in 2013, as all real estate indicators had slight year-over-year improvement.

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A listing of business events happening all around Orange County.

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Hyundai Capital to Move 85 Jobs from OC

Irvine-based Hyundai Capital America Inc. is transferring about 85 jobs from Orange County to its existing operations in Atlanta and Dallas while looking to make room for future growth here.