Peter J. Brennan
Orange County’s unadjusted unemployment rate fell to 2.6% in April from a revised 2.8% in March and below the 3.4% reported a year earlier, according to the state’s Employment Development Department.
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CBC Bancorp (OTC Pink: NCAL), the parent company of Irvine’s Commercial Bank of California, has gone private and will no longer trade on the stock market.
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Irvine-based Acorns Grow Inc. won a major endorsement from BlackRock Inc. (NYSE: BLK), the world’s largest asset manager, with $6.3 trillion.
FINANCE: OC banks report big profit growth
Pacific Premier Bancorp (Nasdaq: PPBI), Orange County’s biggest bank by market cap, reported profit increased threefold in the first quarter to $28 million, aided by tax cuts and acquisitions.
CoolSys, a Brea-based refrigeration and heating company, said it bought Axiom Energy Solutions of Savannah, GA.
Costa Mesa-based life insurance planning firm Tippett Moorhead & Haden Insurance Services LLC has been acquired by the Alera Group, a national employee benefits, property and casualty, risk management and wealth management firm. Terms of the transaction weren’t announced.
Loans Up 13.2% By Dollar, 5% by Number
A 13.2% growth in Small Business Administration loans by dollar value would normally be a celebration in Orange County.
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Brad Reese, during a recent tour of his Cirtech Inc. factory in Orange, pointed out an unusually shaped semiconductor board.
FINANCE: Cite discipline, loans
The biggest banks headquartered in Orange County reported a gusher of profits in the first quarter.
FINANCE: Bank cites fierce competition in niche
Wells Fargo & Co.’s lending to Orange County small businesses plummeted 74%, based on the latest Business Journal ranking of loans backed by the federal Small Business Administration.
The major indexes fell steeply in midday trading as bond yields briefly topped 3% for the first time in four years, and an Apple partner lowered sales forecasts, triggering fears about iPhone X sales.
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Orange County’s unadjusted unemployment rate fell to 2.8% in March from a revised 3.1% in February and well below the 3.7% reported a year earlier, according to the state’s Employment Development Department.
U.S. indexes continued climbing on strong corporate profit reports at the start of the earnings season and are now up eight of the past 11 trading sessions.
Gkkworks, an Irvine-based architectural firm with 100 employees, has been bought by CannonDesign.
CoolSys Sees $30B TAM in Refrigeration
The city of Brea may soon boast a fast-growing company with $1 billion in annual sales.
U.S. indexes climbed on strong corporate profit reports at the start of the earnings season.
Newport Beach-based United Capital Financial Advisers LLC, which has $21.6 billion assets under management, released its newest white-label software for financial advisers.
FINANCE: Rivals engaged over alleged employee theft
Opus Bank (Nasdaq: OPB) settled its complaint about alleged theft of its employees by rival First Foundation Inc. (Nasdaq: FFWM).
Anaheim-based Bedrosians Tile and Stone named Diana Kelly president and chief operating officer.
Indexes rose in midday trading after Chinese President Xi Jinping eased tensions about a potential trade war between China and the U.S.
Irvine’s AutoGravity said it will work with Westbon Inc., which runs a lending platform for international students in the U.S.
Indices rose in midday trading on easing tensions about a potential trade war between China and the U.S.
FINANCE: Netlist was worst performer in TTM
Now the envelopes for the five best- and five worst-performing stocks during the year ended March 29:
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Boot Barn Inc.’s share price has a history of riding the price of oil like one of the bronco-riding cowboys at the annual rodeo it sponsors.
Publicly Traded Cos. See 15.4% Boost to Market Cap
Orange County’s publicly traded companies probably popped a lot of champagne bottles during the past year.
Sunwest Bank has hired Ben Alvarado, Wells Fargo & Co.’s former chief for Orange County and San Diego.
Alliant Insurance Services Inc., a Newport Beach-based insurance broker, is expanding into Asia with the acquisition of Dumortier Risk Management Inc. Terms weren’t disclosed.
U.S. stocks declined across the board on worries about technology stocks and global trade. The S&P 500 dropped 2% to 2,586.41, while the Dow Jones Industrial Average fell 2.1% to 23,594.07. The Nasdaq plunged 2.4% to 6,891.07.
FINANCE: Silicon Valley vet brings analytics to banking
Tom Vertin lost out in the competition for the top job at Silicon Valley Bank in 2011.
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Beleaguered Banc of California (Nasdaq: BANC) has hit another rough patch.
CEO Bets on App as Game Changer
AutoGravity is following the three kick-ass guidelines that Silicon Valley companies made famous.
Orange County’s unadjusted unemployment rate fell to 3.1% in February, compared with a revised 3.2% in January but well below the 3.8% reported a year earlier, according to the state’s Employment Development Department.
Newport Beach’s Pacific Investment Management Co. added Joshua Bolten, former White House Chief of Staff to U.S. President George W. Bush, to its Global Advisory Board.
Indices plunged in midday trading amid a tech sector sell-off and expectations the U.S. Federal Reserve will raise interest rates four times this year instead of three.
FINANCE: Bell’s analysis can mean millions for owners
Randall Bell has earned the nickname Dr. Disaster for a good reason.
FINANCE: Popular event highlights AI, blockchain, pot
Roth Capital Partners, the Newport Beach-based investment banking firm, completed its 30th annual flagship investor conference with 4,710 in attendance, similar to a year ago.
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