LA FINANCE
Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...
Gaining Ground
CEO Bill McMorrow looks to expand Kennedy-Wilson’s real estate holdings with moves into the United Kingdom.Kennedy-Wilson’s Bill McMorrow credits the structure that comes with being raised in a large family for his work ethic and discipline. May 14, 2012 midnight $$ ShareCouncil Passes Bank Disclosure Rules
The Los Angeles City Council passed an ordinance requiring banks that do business in the city to disclose their lending practices to communities.
The Week’s Big Movers
The Business Journal’s index of largest local public companies declined for the week as the woes in the nation’s finance sector dragged down Wall Street for the second straight week.
Forecast Sees Pick Up in L.A. Job Growth
Job growth in Los Angeles County and the region should pick up this year and accelerate next year, according to a forecast released by California State University Long Beach.
First California Rejects PacWest Buyout Offer
First California Financial Group Inc. has turned down an offer to be acquired by Century City’s PacWest Bancorp for $212 million in stock.
PennyMac Announces 10-Million Share Offering
PennyMac Mortgage Investment Trust said late Monday that it will offer 10 million common shares in an underwritten public offering.
The Week’s Big Movers
The Business Journal’s index of largest local public companies closed down for the week, as worries about private-sector hiring trends triggered a late-week decline.
The Week’s Big Movers
The Business Journal’s index of largest local public companies closed up for a second straight week, with investors responding to positive corporate quarterly reports and economic news.
Survey: L.A. Businesses More Optimistic, But Hesitant to Hire
A new survey by the Los Angeles County Business Federation finds that local business owners and executives are more optimistic about the economy this year, but concern over higher taxes, fees and government regulation is dampening expansion and hiring.
City National to Buy Equipment Finance Company
City National Bank has entered into a definitive agreement to acquire First American Equipment Finance for an undisclosed amount.
The Week’s Big Movers
The Business Journal’s index of largest local public companies closed up for the week, as the markets reacted to positive earnings reports.
L.A. County’s Jobless Rate Still 11.8 Percent
Los Angeles County’s unemployment rate in March remained stuck for the third straight month at 11.8 percent, according to state figures.
City National’s Quarter Beats Expectations
City National Corp.’s first quarter profit rose more than 16 percent as the county’s largest local bank benefited from improved credit quality.
Hanmi Profit Falls in Quarter
Hanmi Financial Corp.'s first quarter profit fell as the bank holding company generated lower revenue and set aside more money to cover bad loans.
Cathay General Sees Strong Growth in Quarter
Cathay General Bancorp said its net income jumped 38 percent in the first quarter, largely due to higher interest income.
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