Citizens Business Bank finalizes acquisition of County Commerce Bank
Citizens Business Bank finalized its acquisition of County Commerce Bank, the company announced on Feb. 29. In exchange for all of County Commerce’s common stock and options, Citizens paid $41.25 million — half in stock and half in cash. That equates to $16.79 per County Commerce share. County Commerce earned 40 consecutive “Five Star” quarterly Read More →
Ceres fires KPMG over financial report
Ceres Inc. fired its accounting firm Feb. 23 during a disagreement over a “going concern” statement in Ceres’ 2015 annual report. Ceres, a Thousand Oaks-based ag-biotech company, made the announcement in a filing with the Securities and Exchange Commission. The filing says Ceres hired Los Angeles-based Marcum as its new independent accountant and dismissed its Read More →
AppFolio revenue up in 2015 but so were losses
AppFolio had another strong year but losses nearly doubled as the company expanded in 2015. Goleta-based AppFolio, which makes property management software for small- to medium-sized businesses, released fourth quarter earnings and 2015 earnings results after markets closed Feb. 22. Yearly revenue increased 57 percent in 2015 to about $75 million. Fourth quarter revenues also Read More →
LTC Properties beats analyst projections
Westlake Village-based LTC Properties beat analyst projections of rental revenue and funds from operations per share in its fourth quarter earnings report. LTC is a real estate investment trust that buys facilities such as nursing homes. Investors in such companies often use funds from operations as a substitute for earnings per share because it takes depreciation Read More →
Chase Bar and Grill in Santa Barbara changes ownership
Chase Bar and Grill in downtown Santa Barbara has changed ownership with the help of Community West Bank and Cal Coastal. Jackie Mathis is the new owner and George Merino was the restaurant’s former owner. Mathis is a Camarillo resident who served in the U.S. Air Force, where he managed food and beverage operations. Merino Read More →
MindBody aiming for profitability
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Vapor Hub revenues grow but so do losses
Vapor Hub, a Simi Valley-based electronic cigarette company, said revenues increased slightly when the company released second quarter earnings Feb. 17. Revenues increased from $1.13 million during the second quarter of 2014 to $1.3 million in 2015. Net losses for the company increased as well though, from $189,909 to $334,444. Vapor Hub is a publicly Read More →
