SFV FINANCE
PennyMac Disappoints, Shares Fall
PennyMac Financial Services Inc. in Westlake Village reported first-quarter earnings and revenue Thursday that fell short of analysts’ expectations, causing a 7.5 percent drop in its share price.
Last-Minute Deal Averts Writers Strike
The Writers Guild of America reached a tentative deal with the Hollywood studios and networks to avoid its members going on strike.
Mission Valley Bank Reports Strong Quarter
Mission Valley Bancorp had strong earnings in the first quarter, which was partially attributed to the sale of small business loans on the secondary market.
B. Riley to Manage Hedge Funds
B. Riley Financial Inc. will take over the management of Dialectic Capital Management hedge funds, the Woodland Hills finance company announced Monday.
Great American to Liquidate Bebe Stores
Women’s apparel retailer Bebe Stores Inc. will close all of its retail stores before the end of the third quarter, according to Securities and Exchange Commission filings. Liquidation firm Great American Group, a subsidiary of B. Riley Financial Inc. in Woodland Hills, will oversee the sale of Bebe’s assets in conjunction with Tiger Capital Group.
Great American, KKR Arranges Credit for Sears Canada
Great American Capital Partners, a subsidiary of B. Riley Financial Inc. in Woodland Hills, and KKR Capital Markets have agreed to provide a secured loan to Sears Canada for about $220 million.
NewMark Properties Access In-House Refinancing
Woodland Hills retail developer and property management firm NewMark Merrill Co. has provided two of its shopping centers with nearly $27 million in refinancing.
Home Loan Scammer Convicted
The operator of a home loan modification scam in Santa Clarita has been convicted of grand theft and white collar crime, according to the California Board of Equalization.
Great American to Liquidate HHGregg, Gordmans Locations
Liquidation auction house Great American Group will sell the inventory of two closed retail chains, the company announced Monday.
CU Bancorp Acquired
Beverly Hills-based PacWest Bancorp and downtown L.A.’s CU Bancorp will merge, with PacWest acquiring CU for $705 million in cash and stock considerations.
Economist Reports Strong Growth for Santa Clarita
Traffic in the Santa Clarita Valley has surpassed its prior peak levels of 2010 to 2012, presenting an easy-to-see demonstration of the region’s strong growth.
Great American to Help Liquidate Outdoor Stores
Valuation provider Great American Group in Woodland Hills, a subsidiary of L.A.-based B. Riley Financial Inc., announced Thursday that it will help liquidate 32 outdoor sporting goods stores operated by Gander Mountain Co. Inc.
B. Riley Lends $20 Million to General Finance
A subsidiary of B. Riley Financial Inc. has made a $20 million loan to General Finance Corp. in Pasadena, a provider of portable and modular storage space in Asia, Australia and New Zealand.
Nonprofit SBA Lender Hires President
Miguel Angel Juárez has been named president and executive director of Golden State Certified Development Corp., the nonprofit announced Friday.
L.A. County Gains 33,000 Jobs
L.A. County’s economy chugged along at nearly full employment in February as the unemployment rate fell to 4.8 percent and employers added 33,000 jobs to their payrolls, state figures released Friday show.