FINANCE

Local Banks Brace for Possible Hit

First-quarter earnings reports reflect steep increases in loan loss provisions

Local banks have yet to feel the financial squeeze the coronavirus pandemic has put on other industries, but they're preparing for it.

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Lenders Brace for New PPP Funds

Second round puts focus on needs of smaller firms

Local lenders are gearing up for the next round of the Paycheck Protection Program.

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L.A. County Unemployment Could Hit 32% in May, Estimate Says

Los Angeles County’s unemployment rate could surge to a record high 32% by May, according to an estimate released by the Los Angeles County Economic Development Corp.

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Stem Hits the Right Notes for Artists

Music payment platform provides advance funds

Many Los Angeles musicians and talent managers have had their finances upended by the coronavirus lockdown. Some are stepping up requests for advances on future revenue, which they can do through Stem's platform.

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OriginClear Sets Offering

Water company will use $20M plan for deals, debt

Downtown-based water treatment company OriginClear Inc. has received the green light from regulators for its sale of roughly $20 million in preferred stock.

Diversity Drivers

LA-based PE firms lead the way — and reap the rewards — with new approaches

Many private equity firms have come to embrace the notion that achieving ethnic diversity and gender balance is vital to their long-term competitiveness.

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2020 Private Equity Special Report

LA’s private equity firms are charting a new course in turbulent times

Our timely special report on L.A.’s private equity scene takes a close look at how some of the city’s top firms are acting and reacting now, and how they’re positioning themselves for the uncertain times ahead.

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Loaded for Bear

Private equity firms ready for the worst, look for the best during the market’s downturn

Private equity firms have been forced to rethink their strategies nearly overnight, searching for ways to survive — and thrive — amid the current market's uncertainty.

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City National Says No to Layoffs

Bank also plans $2 million donation

Downtown-based City National Bank has joined a host of global financial institutions in promising to avoid layoffs in the face of the coronavirus crisis.

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Green Dot Taps Henry as New CEO

Financial technology veteran will also join the board

Pasadena-based Green Dot Corp. has named Dan Henry chief executive and president.

Colony Capital Settles Dispute With Investor

Activist Blackwells agrees to support Barrack’s vision

Downtown-based real estate investment company Colony Capital Inc. and activist investor Blackwells Capital have reached a settlement.

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Mortgage Market on High Alert

Some contend coronavirus could drive up defaults

Ahead of passage of the federal government’s coronavirus rescue package last week, uncertainty roiled the commercial mortgage market.

VC Firms Lead Remote Push

Coronavirus transforms how LA works

Almost overnight, the coronavirus has transformed the way Angelenos work. For many in the VC space, though, keeping up “business as usual” has been relatively straightforward.

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Special Report: Banking & Finance Quarterly — Q1 2020

Read interviews with L.A.'s top banking professionals and access the latest data in the Los Angeles Business Journal's Banking & Finance Quarterly Special Report.

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Fast Starter

City National’s Kelly Coffey makes a good first-year impression

Under Kelly Coffey, who joined City National as chief executive in February 2019, the largest bank headquartered in Los Angeles has grown even larger.

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