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El Encanto owner reports $8.3M loss

By   /  Friday, May 10th, 2013  /  Banking & Finance, Latest news, Tri-County Public Companies  /  Comments Off on El Encanto owner reports $8.3M loss

Orient-Express Hotels, the Bermuda-based luxury travel firm that owns and operates the newly-reopened El Encanto hotel in Santa Barbara, reported an $8.3 million loss on revenue of $103.2 million for the first quarter. That’s a slight improvement over a $14.4 million loss during the same time period last year, and officials said in the May Read More →

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Nipomo man must return $47M to fraud victims, banks

By   /  Friday, May 3rd, 2013  /  Banking & Finance, Law, Top Stories, Tri-County Economy  /  Comments Off on Nipomo man must return $47M to fraud victims, banks

John Mark Moore, 51, of Nipomo has pleaded guilty in federal court to defrauding his in-laws, a former business partner and five banks out of as much as $47 million. Before his sentencing in July, Moore is likely to try to return as much of that as he can as restitution, according to prosecutors. But Read More →

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Branch bidding war looms for Ventura County

By   /  Friday, May 3rd, 2013  /  Banking & Finance, Banking Industry, Top Stories  /  Comments Off on Branch bidding war looms for Ventura County

PacWest Bancorp’s $231 million acquisition of Westlake Village-based First California Bank will push numerous Ventura County branches onto the market, and the CEO of the next largest independent bank in the region says she’s taking a hard look. “It’s a market we’re very interested in expanding into,” Simone Lagomarsino, CEO of Paso Robles-based Heritage Oaks Read More →

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PennyMac prices IPO at $17 to $19

By   /  Tuesday, April 30th, 2013  /  Banking & Finance, Banking Industry, Latest news, Personal Finance  /  Comments Off on PennyMac prices IPO at $17 to $19

Moorpark-based PennyMac Financial Services has priced its initial public offering of stock at $17 to $19 per share, indicating plans to raise as much as $211.1 million in its launch on the New York Stock Exchange. PennyMac, headed by former Countrywide Financial Corp. President Stanford Kurland, employs more than 600 people in Moorpark and more Read More →

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K-Swiss sale to Korean firm closes

By   /  Tuesday, April 30th, 2013  /  Banking & Finance, Latest news, Tri-County Public Companies  /  Comments Off on K-Swiss sale to Korean firm closes

E.Land World Limited of Korea closed its $170 million buyout of Westlake Village-based athletic shoe company K-Swiss on April 30, after shareholders of the footwear company overwhelmingly approved the merger. Under the terms of the sale, K-Swiss shareholders will receive $4.75 per share in cash, marking the high point of the company’s 52-week stock price Read More →

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Deckers shares plummet as Q1 earnings drop 87%

By   /  Friday, April 26th, 2013  /  Banking & Finance, Earnings, Latest news, Tri-County Public Companies  /  Comments Off on Deckers shares plummet as Q1 earnings drop 87%

Shares of Goleta-based Deckers Outdoor Corp. plunged 8.6 percent on Friday as the Ugg boot parent reported first-quarter earnings were a fraction of what they had been a year earlier. Deckers said first-quarter profits were $1 million, or 3 cents per share, compared to $8 million, or 20 cents per share, a year earlier. The Read More →

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Heritage Oaks’ Q1 profits jump as bank prepares to pay off TARP

By   /  Friday, April 26th, 2013  /  Banking & Finance, Banking Industry, Latest news, Tri-County Public Companies  /  Comments Off on Heritage Oaks’ Q1 profits jump as bank prepares to pay off TARP

Heritage Oaks Bancorp reported a $3.7 million first-quarter profit, up 131 percent over a year earlier, and said it is gearing up to repay $25 million in bailout funds it took at the height of the recession. The repayment comes with the announcement that two sets of banking regulators have lifted an order over the Read More →

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