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Recent and archived news stories on: banks, credit unions, mortgage lenders, SBA lenders, stocks/bonds, venture capital, wealth management, investment banks, factors, money managers, economic news and financial sector news

Pacoima Credit Union to Merge With Gain Federal in Burbank

Pacoima Development Federal Credit Union has announced it will merge with Gain Federal Credit Union, based in Burbank, effective July 29.

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K-Town’s Hanmi Delays 2Q Financial Reporting Over Loan Loss Issues

Hanmi Financial Corp., parent of the $5.5 billion-in-asset Hanmi Bank, is delaying the release of its 2019 second-quarter financial statement in order to review loan losses related to a “single credit relationship.”

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Banks Post Mixed Results

Finance: Interest rate cuts could increase profitability

Hope Bancorp, PacWest Bancorp and Preferred Bank report earnings.

Oaktree Capital Forms New Blank Check Company, Aims to Raise $175M

Downtown-based global asset management firm Oaktree Capital Group formed a “blank check company” that plans to raise $175 million. The company began trading July 18.

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East West Bank Sees Income Taxes Triple in 2Q, Profit Down 13%

Pasadena-based East West Bancorp, the largest independent bank headquartered in Southern California, saw profits fall 13% to $150 million in its second quarter compared to the same year-ago period.

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Beverly Hills PE Firm Regent Buys French Cycling Company Mavic

Beverly Hills-based private equity firm Regent has purchased French cycling company Mavic from Amer Sports, a Finnish-based headquartered sporting goods company.

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Fintech Firm ZestFinance Partners With Brazilian Retailer

Burbank fintech firm ZestFinance has partnered with Via Varejo, a Brazilian consumer electronics retailer.

Transom Buys Hair Care Co.

Private equity firm extends flurry of recent deals

Private equity firm extends flurry of recent deals

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Cannabis Companies Plan Public Listings

Exchanges around the world compete to list US firms

Exchanges around the world compete to list US firms

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Emmaus Life to Go Public Via Merger

Medical company developed sickle cell disease treatment

Medical company developed sickle cell disease treatment

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Nonprofit Execs See Significant Pay Gap

COMPENSATION: Arts leaders pull in top dollars

COMPENSATION: Arts leaders pull in top dollars

FRONT ROW SEAT

Backstage Capital’s Hamilton targets startup founders with diverse backgrounds

Backstage Capital’s Hamilton targets startup founders with diverse backgrounds

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Emmaus Life Sciences to Go Public Via Merger

Privately held Emmaus Life Sciences, Inc., a Torrance-based company with a major sickle cell therapy under development, plans to go public through a reverse merger with a data analytics company in Orange County.

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L.A. Consumer Sentiment Slips to Four-Year Low

Los Angeles consumer confidence reached a four-year low during the second quarter as the region's consumers grew increasingly concerned about local and national business conditions, according to a survey released July 10.

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SoCal Marijuana Companies Plan Public Listings on U.S., Israel Exchanges

KushCo Holdings Inc. and From the Earth are planning to trade publicly.

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