Earnings down, assets up at Community Bank of Santa Maria
Total assets at Community Bancorp of Santa Maria rose in the third quarter of the fiscal year, even as net income fell, the bank announced Oct. 20. The parent company of Community Bank of Santa Maria saw total assets rise to $327.6 million, an increase of 24 percent from the same time in 2019. Net Read More →
Income up at Bank of the Sierra
Sierra Bancorp, the parent company of Bank of the Sierra, announced a record quarter as net income grew by 16 percent from a year earlier. Bank of the Sierra is based in Porterville, in the San Joaquin Valley, and has 12 branches in the tri-county region, the result of a series of acquisitions of Central Read More →
Resonant reports earnings bump
Resonant, the Goleta-based maker of components for wireless devices, reported a sharp increase in sales and a reduced cash burn for its third quarter ended Sept. 30. The company said revenue jumped to $1.4 million, compared to $79,000 in the same quarter a year ago and $600,000 in the second quarter, as it received a Read More →
It’s “Mission accomplished” for avocado distributor’s IPO
Mission Produce is going on the offensive in the booming global avocado market, with $75 million in new capital from its Oct. 1 initial public offering. The Oxnard-based global avocado packer and distributor went public at $12 per share, a step down from its initial target of $15-$17 per share. The deal netted $75 million Read More →
Dubroff: Mission Produce IPO holds lessons for industry, region
UPDATE: Mission Produce began trading on the Nasdaq at 12:16 p.m. on Oct. 1. Follow the stock here. The window for initial public stock offerings rarely opens as wide as it has in the fall of 2020. That’s remarkable given the COVID-19 pandemic, the election campaign and governments racking up debt like crazy. But after Read More →
Arcutis shares up on news of public, private offerings
Arcutis Biotherapeutics saw a 15 percent rise in its share price after it said Sept. 29 that it will offer 4 million shares to the public and sell another $35 million in stock to an affiliate of one of its directors. Arcutis closed at $31.04, a gain of $4.28 after it announced the dual track Read More →
Cure closes $20M CBD acquisition
Cure Pharmaceutical, an Oxnard cannabis products manufacturer, has completed its $20 million cash-and-stock buyout of the CBD company Sera Labs, a deal Cure says will help it reach positive cash flow in around 18 months. Cure’s stock, which is traded on the over-the-counter markets, fell 3 percent following the announcement, closing at $1.29 per share Read More →
