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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Segerstrom Center Plans Dance School

The Segerstrom Center for the Arts in Costa Mesa plans to open a dance school in September 2015 with American Ballet Theatre, the center said.

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Habit IPO Set

Habit Restaurants Inc. has priced its initial public offering of 5 million shares tomorrow at $18 a share, the company said.

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Supervisors Accept 2,500 Acres

The Orange County Board of Supervisors voted unanimously today to accept a donation of 2,500 vacant acres by the Irvine Company, said the parks unit of the county’s Community Resources department.

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Garden Grove IT Company Acquired

Garden Grove-based Bar Code Specialties Inc. will be acquired by Quest Solution Inc., a Nevada IT integrator.

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Ackman Withdraws From Meeting

Activist investor Bill Ackman said today that he would withdraw from a special shareholders’ meeting he had planned in the wake of Irvine-based Allergan Inc.’s $66 billion acquisition by Actavis PLC, according to CNBC.

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El Pollo Loco Lock-Up Date Waived

Costa Mesa-based El Pollo Loco Holdings Inc. said insiders will be able to sell 6 million shares as early as Wednesday, November 19, after a “lock-up” date was waived by the lead managers of its initial public offering in July.

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Allergan Acquired by Actavis for $66B

Irvine-based Allergan Inc. has agreed to be acquired for $66 billion by Actavis PLC.

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Cal Republic Raises $90M, Swings to Profit in Q3

Irvine-based California Republic Bancorp has raised about $90 million in equity and debt offerings.

Another 180,000-SF Flip in South Coast?

REAL ESTATE: Would be 6th trade in 7 years for Costa Mesa office

Stop us if you’ve heard this one before: The distinctive Costa Mesa office that once held the headquarters of ICN Pharmaceuticals Inc. and later Valeant Pharmaceuticals International could soon have a change in ownership.

New Allergan Suitor Puts Friendly Face on Takeover Talk

HEALTHCARE: Could arrive at special meeting with two offers

A new bidder has brought a decidedly different tone to talks on a takeover of Irvine-based Allergan Inc.

TRI Pointe in Full-Service Push for 2015 Sales Growth

REAL ESTATE: Adds mortgage, title services in wake of Weyerhaeuser deal

TRI Pointe Homes Inc. continues to build the foundation of an ambitious growth plan in 2015, despite some lingering questions over the health of the national homebuilding industry.

Q&A

The Business Journal’s Jane Yu asked local bankers to discuss their and their clients’ thoughts on how to manage operations in a changing interest rate environment, where rates are expected to rise. Here are edited excerpts of their responses:

Banks Post Biggest Jump in Assets Since Predownturn

23 Together See 35% Rise To $18.5 Billion In Year

Orange County-based commercial banks have notched the biggest year-over-year asset growth in the ongoing economic recovery and even since the few years prior to the recession.

Biggest Credit Unions Account for Bulk of Growth

Group’s Assets to $16.9B, Despite Declines for Most

Orange County’s credit unions built assets at a faster clip over the past year, when the biggest of the group pulled most of the gains.

Hope for Hangars? South Coast Redux; Act II for Churm?

Are the powers that be rethinking the fate of the two hangars on the former Marine base in Tustin now that Google has signed a 60-year lease worth $1.2 billion for a similar structure and several others on surrounding grounds in the Silicon Valley?

Habit Looks to Trade on ‘Better-Burger’ Standing in IPO

RESTAURANTS: Recent growth, timing of offering look favorable

The Habit Restaurants Inc. in Irvine appears to have a number of factors working in its favor for an initial public offering that’s expected sometime this week, including some that reflect its strong run of recent years and others that indicate the chain is well-positioned for the future.

Small Restaurants Seek Big League Through Franchises

RESTAURANTS: Approach allows fast growth at limited cost

Small local restaurant companies plan to expand by franchise in 2015.

Vocational School Bucks One Trend, Taps Another

EDUCATION: Placements, demand for training strong

Caleb Everett said he has put $1 million into Career College of California and taken no salary since his Fortuna Education LLC bought it in 2010.

It’s Official: Broadcom HQ At Great Park

Irvine-based chipmaker Broadcom Corp. made its long-rumored move to Great Park Neighborhoods official, agreeing to buy land to build a 1.1-million-square-foot corporate headquarters. A price wasn’t disclosed.

Cosmetics Firm Could Go Up for Sale

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

Aliso Viejo Device Maker Raises $15M

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

Quiksilver Sells Online Retailer to Rival

Quiksilver Inc. sold online retailer Surfdome.com in the United Kingdom to Australia-based rival SurfStitch for $16 million.

Some Real Estate Experts Say 2014 Brings Normalcy

Post-Downturn Burst Has Cooled to Stable Market

Consumers, after watching the crash of the housing market in 2008, are wary of another “bubble.”

Robust Activity Continues in Mid-Counties Market

The third quarter in the Mid-Counties industrial market continued where it left off at the end of the second quarter, whose strong demand pushed levels of supply to their lowest in six years.

Real Estate Deals

Sales and leases of offices, industrial buildings, retail space and apartments

The Higgins Trust sold an office and residential building in Orange to a local investor for $2.3 million.