Founders earnings jump in Q1
San Luis Obispo-based Founders Community Bank earned $189,000 in the first quarter, up 220 percent from the $86,000 it earned in the first quarter a year earlier. The bank also announced plans to open a new Morro Bay branch. Loans and deposits were up during the quarter, with noninterest-bearing deposits climbing by $7 billion, CEO Read More →
Umpqua to buy American Perspective Bank for $44.7M
San Luis Obispo-based American Perspective Bank is being purchased by Portland-based Umpqua Holdings Corp. for $44.7 million. Under the deal, announced April 10, Umpqua will pay $10 per share in cash for American Perspective. The San Luis Obispo bank’s three Central Coast branches will be rebranded as Umpqua Bank. The acquisition has been approved by Read More →
Amgen to buy KAI for $315M
Amgen said April 10 that it plans to buy San Francisco-based KAI Pharmaceuticals for $315 million in cash in a deal that would give it worldwide rights to an experimental treatment for patients with chronic kidney disease. Thousand Oaks-based Amgen said the deal would give it worldwide rights, excluding in Japan, to KAI’s lead product, Read More →
Calavo to raise up to $200M
Avocado marketer Calavo Growers said April 6 that it plans to raise up to $200 million in fresh capital by offering a mix of common stock and warrants for sale. The Santa Paula-based company said in regulatory filings that it would offer a combination of shares of common stock and warrants to raise the funds. Read More →
Bloomberg Editor: Republican discord a boost for Obama
President Barack Obama should be the underdog in his campaign for re-election, but disunity among Republicans could hand him a victory in November — and a stronger hand in dealing with Congress. That was the analysis handed down by Bloomberg News Editor Clark Hoyt at the fourth annual Central Coast Economic Symposium on April 4. Read More →
Teledyne increases stake in Optech
Military-industrial conglomerate Teledyne Technologies said April 3 that its Dalsa subsidiary has increased its ownership stake in the parent company of Optech from 19 percent to 51 percent. Terms of the deal were not disclosed. Optech is a Canadian maker of laser-based survey and digital imaging equipment. Thousand Oaks-based Teledyne has been moving away from Read More →
