Peter J. Brennan
Uniti Financial Corp., the largest Korean-American based bank in Orange County, is being bought by Walnut Creek’s BayCom Corp. (Nasdaq: BCML), the holding company for United Business Bank, for $63.9 million.
Newport Beach’s Windjammer Capital Investors said it has completed fundraising for its fifth fund, Windjammer Senior Equity Fund V LP, with aggregate capital commitments of $870 million.
FINANCE: Talk of possible sale heats up
Since Steve Gordon’s surprising departure last week as chief executive of Opus Bank, the once high-flying company he co-founded in 2010, the question is what will happen to Orange County’s third-largest bank by assets.
TELECOM: OC jump hints at wireless potential
Rod Hanson wants to make sure your next-generation wireless devices will be able to connect to the internet super-quickly in Orange County—what’s known as 5G.
Opus Bank (Nasdaq: OPB), the third-largest Orange County-based bank by assets, said Chief Executive and President Stephen Gordon resigned.
Assistant GC ‘Loves Being a Lawyer’
When Stacey Jue began her career as a lawyer, she was advised to prepare herself to make a lot of sacrifices.
Security Staffing Giant Allied Universal May Seek IPO With Snap’s Ex-CFO
Allied Universal made a $1 billion buy in July to bring its employment to 210,000.
Stock markets were in a broad retreat today as tech and financial shares plunged. The S&P 500 fell 1.6% in midday trading to 2,690.37, the Dow Jones Industrial Average 1.8% to 24,949.28, and the Nasdaq 2.9% to 7,034.35.
Orange County’s unadjusted unemployment rate rose to 2.9% in October from a revised 2.8% in September and down from year-ago estimate of 3.2%, according to the state Employment Development Department.
The Securities and Exchange Commission is dropping its complaint of insider trading against James Mazzo, former chairman and chief executive officer of Advanced Medical Optics Inc., for allegedly tipping information about his company's acquisition to a friend, former professional baseball player Doug DeCinces.
Irvine-based Kofax Inc. is paying $400 million in cash to obtain the document imaging division of Nuance Communications Inc. (Nasdaq: NUAN).
Santa Ana-based Allied Universal, the largest U.S. security firm, named Andrew Vollero incoming chief financial officer to replace Bill Torzolini, who retires next year after 15 years in the role.
U.S. stocks posted a broad decline led by technology stocks. The Nasdaq dropped 2.5% to 7,221.92; the S&P 500 fell 1.6% to 2,735.18; and the Dow Jones Industrial Average declined 1.9% to 25,503.98.
MANUFACTURING: CEO says problems nothing new
BioLargo Inc. (OTC: BLGO), the largest publicly traded company in Westminster, is in the business of getting rid of bad odors at landfills.
FINANCE: CEO sees stock run-up
Ivo Tjan knew his career path when he was 18.
Newport Beach’s Beacon Pointe Advisors, which has more than $9 billion in assets under management, hired Michael Dow, an executive at UBS Global Asset Management, as chief investment officer and chairman of its investment committee.
Rate of Asset, Member, Worker Growth Slows
Orange County’s credit unions reported slowing growth in assets, members and employment, based on the Business Journal’s annual list.
Report 10% Climb, 28% Jump in Profits
Orange County-based commercial banks’ asset growth slowed to 10% to $37.8 billion for the 12 months ended June 30.
FINANCE: Struggling amid rising interest rates, skinnier ‘spreads’
It was a terrible week on Wall Street for Orange County’s biggest banks.
Pacific Premier, First Foundation Lead Sales
While tech companies often get the glory for rapid growth, six Orange County-based banks are among the leaders on the Business Journal’s list of publicly traded companies with the fastest-growing revenue over a two-year period ended June 30.
KushCo, Terra Tech Light Up the Way
KushCo Holdings Inc. and Terra Tech Corp. are not just blowing smoke in the cannabis industry.
ENGINEERING: Price high after Lime Energy buy
It appears Wall Street once again really likes Willdan Group Inc.
Shares of Opus Bank (Nasdaq: OPB) closed more than 20% Monday after the Irvine bank reported third quarter earnings that missed analyst estimates; shares leveled off in Tuesday midday trading.
Say Corporate Trends Include AI, Fees, #MeToo
Glaukos Corp. (NYSE: GKOS) General Counsel Robert Davis, besides handling strictly legal matters for the San Clemente-based medical device maker,
Publicly traded corporations are often involved in lawsuits that stay under the radar, yet involve large amounts of money, not to mention the time of well-compensated executives.
FINANCE: Eliminates duplicative jobs after merger
PAAMCO Prisma Holdings LLC, a fund of funds with $30 billion in assets under management or advisement, has laid off some local employees.
Orange County’s unadjusted unemployment rate fell to 2.8% in September from a revised 3.1% in August and 3.3% a year earlier, according to the state Employment Development Department.
FINANCE: Longtime banker again scores hit, reaps returns
Ed Carpenter has done it again.
FINANCE: Firm takes cut only after making profit
Steven Check believes he owns the most unusual investment firm in Southern California.
Irvine’s Commercial Bank of California (CBC) appointed Michael J. Helmuth to a new role as Orange County market president and Claudia Bodan to a similar new role for Los Angeles.
Haddad: Higher Density, Homes Without Garages, Ridesharing
Emile Haddad is experimenting with something that at first glance appears antithetical to the Southern California lifestyle—a home without a garage. And a homeowner who’s not a car owner.
California Rooms, Vertical Building Are Wave of Future
Fireplaces, big backyards, three-car garages and ranch houses are fading away in Orange County.
Local Boss Says Best He’s Seen in 30 Years
Lewis Cornell, Jacobs Engineering Group Inc.’s top representative in the Western U.S., has his hands full when his company bought Englewood, Colo.-based CH2M Corp. last year.
Three-Story Models Address Land Shortage
Kevin Karami and his son Dustin pointed out the differences among the three next-door houses they designed in Irvine’s Great Park Neighborhoods.
ARCHITECTURE: ‘California Room’ highlights trends
“The California Room” is designed so the home’s roof covers an outdoor patio.
Staffing Boom Grows Sales Nearly 2,000%
When Matthew Blake was asked how many offices Nexem Corp. has nationwide, he hesitated before saying, “That’s a dynamic number. It might be more than 50.”
FINANCE: Northwestern icon to double OC size
Orange County has about 3,000 middle-market companies, more than the 700 companies in Portland and 2,000 in Seattle area.
SERVICES: Ahtna Design wins fans for its construction expertise
An Alaska-based firm owned by an indigenous tribe is seeing its construction management firm do quite well in Irvine.
San Francisco’s BPM LLP, one of the 50 largest accountancies in the country, is entering Orange County with the purchase of Santa Ana’s Kramer & Olsen Accountancy Corp.