Region’s unemployment rate dips below 3%
Latest news, middle, Regions, San Luis Obispo County, Santa Barbara County, Top Stories, Ventura CountyThe unemployment rate in the tri-county region dipped just below 3% in September, as the state of California hit a new record low of 3.9%, according to data released Oct. 21 by the California Employment Development Department. Ventura County’s unemployment rate in September was 3.3%, down from 3.5% in August. In Santa Barbara County, the Read More →
Pacific Premier reports lower loan production, smaller assets than a year ago
Banking & Finance, Banking Industry, Earnings, Latest news, Tri-County Public CompaniesPacific Premier Bancorp saw its net income and assets take a sharp dip in its most recent quarter, the company announced Oct. 20. The Irvine-based bank, which has nine branches in Santa Barbara and San Luis Obispo counties, reported net income of $73 million, or 77 cents per share. For the same quarter in 2021, Read More →
Pacific Western Bank reports income dip
Banking & Finance, Banking Industry, Earnings, Latest news, Tri-County Public CompaniesLos Angeles-based PacWest Bancorp — the parent company of Pacific Western Bank, a bank with 13 branches in the tri-county region — announced a drop in net earnings from last year with net income of $122.2 million, or $1.02 per diluted share, for the third quarter of 2022. In the same quarter last year, the Read More →
Merger of U.S. Bank and Union Bank gets final U.S. approval
Banking & Finance, Banking Industry, Latest news, left, Top StoriesU.S. Bank’s $8 billion acquisition of Union Bank has the green light from U.S. regulators, a big step forward for a deal that could make U.S. Bank one of the biggest retail banking companies in the tri-county region. The deal received its final U.S. regulatory approvals on Oct. 14, more than a year after it Read More →
Street Smarts: Recognition for Miller Wines; grants for STEM students
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Semtech announces $300M in debt placement to help finance Sierra acquisition
Banking & Finance, Latest news, Regions, Technology, Tri-County Public Companies, Ventura CountyThe Camarillo-based semiconductor manufacturer Semtech will raise up to $300 million in a private debt placement to help pay for its pending acquisition of Sierra Wireless. The company announced a $250 million in convertible senior notes on Oct. 6 and upped the total to $300 million the next day. The notes will pay 1.625% interest Read More →
Yardi acquires Canadian software firm
Latest news, Regions, Santa Barbara County, TechnologyYardi, a Santa Barbara-based property management software company, announced Oct. 11 that it had acquired Planimetron, a Toronto company that provides digital visualizations for the real estate industry. Terms of the deal were not disclosed. Yardi said it will “rebuild and rebrand” Planimetron’s platform, Propidex, and relaunch it sometime in 2023 as Space Manager, a Read More →
