Peter J. Brennan
Banc of California’s Future Plans Get Cool Reception
Wall Street likes the future plans of Pacific Premier Bancorp (Nasdaq: PPBI). It gave a thumbs down to the road map of rival Banc of California Inc. (NYSE: BANC).
Mechanics Bank (OTCBB: MCHB) said it will acquire Learner Financial Corp., the bank holding company for Scott Valley Bank, to add $692 million in assets. Terms weren’t disclosed.
Irvine’s Pacific Premier Bancorp (Nasdaq: PPBI) agreed to acquire Grandpoint Capital Inc. (OTC Pink: GPNC) in an all stock deal valued at $641.2 million.
Indices across the board rebounded at midday by more than 1% apiece on a broad-based rally following two weeks of market turmoil.
FINANCE: Analysis shows biggest entities in good shape
The 10 largest issuers of municipal debt that aren’t school districts owe a cumulative $9.84 billion, according to a Business Journal analysis.
Infinity Bank opened on Feb. 1 in Santa Ana, the first new bank in a year in Orange County.
A California federal judge this week gave preliminary approval for Allianz Asset Management of America LP to pay $12 million to settle allegations it didn’t adequately provide alternatives to its employees for their retirement plans.
LD Holdings Group LLC, parent company of loanDepot, the nation’s fifth largest retail lender, today named real estate executive Chris Heller to head its recently-launched mello Home business.
Indices whipsawed in early trading but were a little higher by midday after a steep selloff in the preceding two trading sessions on concerns of rising bond yields and higher inflation.
Santa Ana-based Allied Universal, the biggest private security force in North America with over 150,000 employees, bought Covenant Security Services Ltd., a unit of Covenant Services Worldwide, on undisclosed terms.
Indices continued to fall amid concerns about rising inflation and higher government bond yields.
CANNABIS: Lockyer, Spitz set up in Costa Mesa’s ‘green zone’
What does a former state attorney general have in common with the ex-president of the Orange County Register’s parent company?
FINANCE: OC-based banks show plans in outlooks
Two Orange County banks said last week that they’re on the lookout for acquisitions, while it appeared a third bank’s stock may be propped up by sale speculation.
Irvine-based fintech firm AutoGravity, which provides auto financing through smartphones, signed up another automaker: Nissan Motor Acceptance Corporation (NMAC).
The Walt Disney Co. (NYSE: DIS) promoted Michael Colglazier, its current Disneyland Resort chief, to head of its Asia parks, effective March 5.
FINANCE: Palmy Fund has $3.5 million
Newport Beach-based Palmy LLC said it opened the first cryptocurrency investment fund based in Orange County.
LoanDepot LLC, the second largest non-bank mortgage lender in the U.S., launched two new businesses to expand real estate lending through its technology platform dubbed Mello.
Orange County’s unemployment rate fell to 2.8% in December, and the state again reported a record low of 4.2%.
Restaurant365 LLC, an Irvine-based developer of back-office software for restaurants, said it closed a $20 million Series A financing that includes a minority investment from Bessemer Venture Partners.
The Orange County Bar Association, which has more than 8,500 members, tonight is installing Nikki Presley Miliband as its president at the group’s premier legal event, Judges’ Night, at the Irvine Marriott.
Windjammer Capital Investors of Newport Beach sold JWC Environmental LLC to Swiss giant Sulzer Ltd. (SIX: SUN) for an enterprise value of $215 million.
White Nelson Diehl Evans LLP named Paul Treinen managing partner, replacing Dave Doran who retired on Dec. 31 after 42 years with the Irvine-based accounting firm.
StocksPLUS, RAE Post Strong Returns
When it comes to mutual funds, Newport Beach-based Pacific Investment Management Co. is in a class all its own in Orange County.
FINANCE: Trilogy founder uses radio to provide advice
Jeff Motske advocates a special kind of date with your spouse—“a financial date night” to discuss the family’s finances.
ECONOMY: Famous execs urge new mindset
How can Santa Ana attract more business?
FINANCE: Affinity, PacLife, WCM rode stellar returns to top
Most mutual funds based in Orange County yielded a very good 2017 indeed.
Community Foundation Different Than a Business
On a recent weekday in December, Tracy Branson visited a home in Huntington Beach to prep it for sale and look for a real estate agent. She estimated the house would fetch between $600,000 and $700,000.
Q&A: Famous Economist Talks GDP, PIMCO, LinkedIn
Mohamed El-Erian can remember the first day he fell in love with Orange County. “Orange County had me at hello,” he quipped during a recent phone interview.
While much of the rest of the U.S. business community is celebrating the new tax law, owners and executives at certain California businesses are groaning and scrambling to talk to their tax experts.
Vic Hausmaninger, founding partner of HBLA CPAs Inc. of Irvine, talked often last year with Business Journal Financial Editor Peter J. Brennan about the proposed tax bill. Hausmaninger wrote the following on what chief financial officers and other C-level executives should consider:
The majority of Orange County’s publicly traded companies enjoyed a positive 2017.
Marijuana Industry Players
Cannabis.ca.gov is the secretary of state’s official website on how to start a cannabis business. Three state agencies are overseeing the industry:
Newport Beach’s Pacific Investment Management Co., one of the world’s largest investment firms, is investing $200 million in GreenSky LLC, according to the Wall Street Journal.
1K Days After Bill Gross Left, Again a Force
Emmanuel “Manny” Roman sure knows when to make an entrance.
MANUFACTURING: Industry’s ‘Wild West’ scheduled to go legal
New Year’s Day will be more than just a party for some Orange County businesses. They’re gearing up for the day California legalizes recreational marijuana.
Tustin’s Peregrine Pharmaceuticals, Inc. (Nasdaq: PPHM), a drug manufacturer that’s been in a proxy battle, said Roger J. Lias is the company’s new chief executive and president.
Orange County’s unemployment rate plummeted to 2.8% in November as the state reported a record low of 4.6%, according to the state’s Employment Development Department.
The University of California, Irvine, named L. Song Richardson as the permanent dean of its law school, replacing Erwin Chemerinsky.
United Capital Financial Advisers LLC, a Newport Beach wealth management firm with $20.7 billion in assets under management, is buying Payne Wealth Partners in Evansville, Ind., to add $530 million in assets and about a dozen employees.
Irvine-based First Foundation Inc. (Nasdaq: FFWM) will buy PBB Bancorp (OTC, PBCA) for $106 million in stock.