ACQUISITION: Owner of Farmers Market sells one of county’s oldest lenders.
Gilmore Bank, a small Fairfax District lender and one of Los Angeles County’s oldest banks, will be acquired later this year by downtown L.A. bank holding company Grandpoint Capital Inc.
LENDING: Wells Fargo, Hanmi look beyond Koreatown market.
Two new executives hope to broaden the business base of their Koreatown banks.
Investment: Lorraine Spurge sees opportunity to tap overlooked companies.
After more than 20 years of winding through the worlds of high-yield bonds, publishing and entertainment consulting, Lorraine Spurge is trying out private equity. But she will draw from a limited pool.
BANKING & FINANCE QUARTERLY: Banks getting back into construction loans – very cautiously.
Some banks are now building up their construction loans after years of staying away. But they’re still super-cautious.
BANKING & FINANCE QUARTERLY
International City Bank still steers clear of construction loans after being nailed by them when the real estate market crashed.
Executive search firm Korn/Ferry International reported higher net income in its fourth quarter ended April 30.
Wilshire Bancorp vaults into New Jersey as part of the Koreatown lender’s expansion strategy.
The U.S. Supreme Court on Thursday further weakened the Port of Los Angeles’ Clean Truck Program, overturning two minor provisions that had been upheld by a lower court.
Chong Guk Kum, former chief executive of Westlake Village’s First California Financial Group Inc., has been named chief executive of Koreatown’s Hanmi Financial Corp.
Koreatown’s Wilshire Bancorp Inc. on Monday said it plans to acquire a small Korean-American bank in New Jersey, adding to its East Coast presence.
INVESTMENT: Clearlake buys IT firm and fashion website in two recent deals.
Santa Monica private equity firm Clearlake Capital Group has been putting a new fund to work with two acquisitions announced in recent weeks.
GROCERY: Meat vendor makes the cut as one of first clients.
Huntington Meats hopes Amazon’s new delivery service will beef up its business.
The coming public offering of Colony Capital LLC spinoff Colony American Homes could bring in more than $230 million.
Atmosphere is changing around SpaceX as it looks to become a steady rocket launcher.
SPECIAL REPORT: Wealthiest Angelenos
Some of L.A.’s richest residents elude the spotlight while piling up millions and even billions in low-profile industries.
MANUFACTURING: Move part of Mattel’s new focus on relations with retailers.
Barbie parent Mattel makes play to boost North American division by consolidating in El Segundo.
INVESTIGATION: Plaintiffs hope hard drives will help lawsuits against bank.
Politicians and campaign organizations suing a local bank over money stolen by campaign accountant Kinde Durkee could get their hands on more evidence in coming weeks.
Nate D. Sanders house handling items from ‘Captain Kangaroo.’
Huge collection of items from classic kids’ show “Captain Kangaroo” gets local house hopping.
Oaktree Capital Group LLC shares rose after the company beat Wall Street expectations again with first-quarter results reported Tuesday.
A New Jersey judge has ordered Santa Monica firm Colony Capital LLC to proceed with the sale of an Atlantic City hotel and casino to the operator of an online poker site.
INVESTMENT: Davidson offer too good to pass up for Crowell Weedon.
Downtown L.A. stock brokerage Crowell Weedon & Co. was founded during the Great Depression – and its age was showing.
A Montana stock brokerage has bought downtown L.A.’s Crowell Weedon & Co., the oldest local brokerage and one of just a few remaining in Los Angeles.
Firm polishes up diamonds as investment
Chris Duffield and Kristopher Schellhas hope to polish up investors’ portfolios with diamonds.
HEALTH CARE: Increase in patient visits helps boost shares of IPC.
Investors check into IPC after the medical employee business reports healthy quarter
A Los Angeles banker, the head of a Middle Eastern investment bank and retired General Wesley Clark plan to announce Monday the formation of an investment fund to help rebuild Syria.
Koreatown bank holding company BBCN Bancorp’s earnings fell well short of investors’ expectations, thanks in part to one bad loan.
Wilshire Bancorp Inc. on Monday reported sharply lower first-quarter profits compared to last year, though the results topped Wall Street expectations.
FINANCING: Owners of Planet Blue retain larger stake with debt transaction.
Santa Monica retailer and fashion brand Planet Blue needed cash to buy more inventory, redo its website and attract more online customers.
INVESTMENT: Wedbush aims to tap Warsaw exchange.
Stock brokerage Wedbush is betting its zloty on Poland’s Warsaw exchange as a revenue generator.
Downtown L.A. bank holding company City National Corp., parent of City National Bank, on Thursday reported higher first-quarter net income that fell just shy of investors’ expectations.
BBCN Bancorp is heading east with Tuesday’s announcement that it plans to acquire a Chicago-based Korean-American bank for $4.6 million.
INVESTMENT: Vets exit TCW as Carlyle takes over.
TCW can no longer bank on a stable image as veteran executives continue to jump ship.
Special Report: Tech Finance
Business Journal takes a step-by-step look at how funding needs are met as tech startups mature, with profiles of local investors.
Monrovia’s Green Dot Corp. is in the market for a new chief financial officer after John Keatley announced he plans to leave the company by September.
The fired auditor at the center of a Los Angeles insider trading case has been identified as Scott London, a longtime partner in the downtown L.A. office of accounting firm KPMG and a board member of the Los Angeles Area Chamber of Commerce.
HEALTH CARE: Valeant’s latest bid for Obagi might fall short as stock surges.
Valeant fleshes out a bigger offer for skin-care products company Obagi.
Farmers bank keeps share number low, value high
Is Farmers & Merchants Bank the Berkshire Hathaway of Los Angeles?
ACQUISITION: Vance Street takes controlling interest in Micronics.
The filters that separate precious metals from wastewater at a mine or pull impurities out of milk at a dairy aren’t expensive, but they’re vital pieces of equipment that companies will continue to buy if they’re reliable.
Fitzgerald poems and Richard III signature to go up on block.
Nate Sanders hopes poems by F. Scott Fitzgerald and Richard III’s signature have the write stuff with bidders.
MANUFACTURING: Keck-Craig out of its depth competing with 3-D prototypes.
Old-school Keck-Craig found itself out of shapes when competing with 3-D modelers for prototype work.
LENDING: Evergreen can’t even sell off its charter.
Evergreen International Bank checks out after failing to find a buyer for its assets or charter.
INVESTMENT: Oaktree, National Financial praise bank as stable tenant.
When Wells Fargo & Co. pays its rent next month, the San Francisco banking giant will be sending a few big checks to Los Angeles.
HEALTH CARE: Obagi accepts acquisition offer from Montreal’s Valeant.
Successful suitor Valeant fleshes out deal for skin care products maker Obagi.
FOOD: Snak King restyles packaging of Whole Earth brand to accent flavor over health benefits.
Snak King hopes shoppers bite on the refocus of its Whole Earth line from healthy to tasty products.
INVESTMENT: Cereplast activity partly fueled by new shares from debt deals.
Investors have turned up Cereplast’s stock trading volume as they attempt to sound out the plastic resin maker’s future.
Tightened credit standards at banks have prompted businesses to turn to factors for high-cost, short-term loans.
Fast A/R Funding uses online advertising to pursue clients outside of factoring’s traditional sectors.
AUTOMOTIVE: Coda may seek sale as firm grinds gears.
Coda brings in investment banker as the electric car maker spins its wheels saleswise.
Broadway Federal Bank continued to shore up its balance sheet last month, selling off more than $13 million in nonperforming loans.
BANKING: Wary lenders look to cut ties to properties.
Lenders look to nip deals involving pot shops in the bud before the properties are seized by law enforcement.