Founders Community Bank changes its name
Founders Community Bank, which has two branches in San Luis Obispo County, has rebranded as Premier Valley Bank. In a July 29 news release, the bank announced the name change but said that ownership and leadership will remain unchanged. The Fresno-based bank attributed its decision to rebrand as a way to unite its banking centers Read More →
LTC Properties earnings rebound from pandemic lows
LTC Properties saw its net income soar a year after the pandemic caused serious interruptions to the real estate investment trust’s business model. On July 29, the Westlake Village-based REIT reported its net income for the second quarter of 2021 at $18.1 million, or 46 cents per share — an increase of more than 900% Read More →
Running shoe sales propel Deckers to profitable quarter
Goleta-based Deckers Brands started its 2021-22 fiscal year strong, reporting huge increases in earnings and revenue in quarterly results released after the markets closed July 29. The parent company of Ugg, Teva and other footwear brands delivered earnings of $48.1 million in the most recent quarter, or $1.71 per share, much better than the same Read More →
Citizens Business Bank to acquire Suncrest Bank
CVB Financial Corp., the parent company of Citizens Business Bank, announced July 27 that it will be merging with and absorbing Suncrest Bank. The deal is worth about $204 million, or $16.18 per Suncrest share. Through the merger, Citizens’ total assets will increase to about $17 billion, based on the most recent publicly available information Read More →
Westlake Village robotics firm closes $30M funding round
InVia Robotics, a Westlake Village-based warehouse automation solution company, secured $30 million in a Series C funding round announced July 28, led by M12, Microsoft’s venture fund, and Qualcomm Ventures. To date, inVia has raised $59 million in funding. With this investment, inVia said it plans to extend its products’ reach and operational support in Read More →
Teledyne shares rise after first earnings report since Flir acquisition
Teledyne Technologies crushed analysts’ expectations July 28, delivering revenue in the second quarter of 2021 that doubled its total from the same quarter a year ago, thanks in large part to its acquisition of Flir systems, an Oregon based company with significant operations in Goleta. Teledyne, a Thousand Oaks-based industrial and scientific conglomerate, generated $1.12 Read More →
Cannabis grower pleads guilty to bribing SLO County supervisor
A San Luis Obispo County cannabis grower and dispensary owner bribed the late County Supervisor Adam Hill and attempted to bribe the mayor of Grover Beach, and will plead guilty to federal bribery and tax crimes. Helios Dayspring, who also goes by “Bobby,” agreed to a plea deal that was filed July 28 in federal Read More →
