Banking and Finance – North Bay Business Journal - North San Francisco Bay Area, Sonoma, Marin, Napa counties

Larkspur mobile-banking startup gets $18 million

December 5th, 2011

LARKSPUR [Updated, Nov. 6, 12:10 p.m.] — mFoundry, a fast-growing provider of mobile banking and payments services, today said it received $18 million in growth capital. The new funds will allow the company to add 60 employees to its workforce of 100. The 7-year-old company has received $50 million in funding so far.
New court rulings jeopardize asset protection benefits of single-member LLCs

December 5th, 2011

If you own a single-member limited liability company (“SMLLC”) and live in a community property state, recent developments now make it prudent for you to seriously consider adding at least one more member to your LLC
Non-bank financing increases options for small business

December 5th, 2011

Awareness of non-bank financing options has risen in recent years, driven largely by the tightening of lending standards at banks that have made capital harder to come by for many small businesses.
First Community leaps to No. 1 on SBA list as lending overall rises

December 5th, 2011

NORTH BAY — Santa Rosa-based First Community Bank loaned the greatest amount of dollars to small businesses in the North Bay through the U.S. Small Business Administration’s 7(a) program in the 2011 fiscal year, jumping 10 places ahead to No. 1 and joining a wave of lending both locally and across the country.
Lenders expect 504 lending to rise with recovery

December 5th, 2011

Both the number of loans and the total value of loans facilitated through the U.S. Small Business Administration’s 504 program decreased across the North Bay in fiscal year 2011, though lenders said levels reflected that some businesses are still expanding during the recessionary period.
Recent changes enhance 504 refinance program

December 5th, 2011

Lenders are praising recent tweaks to the new U.S. Small Business Administration 504 refinance program, saying that the changes make more small businesses eligible while simplifying the process for institutions.
Business news: Week of Nov. 21, 2011

November 21st, 2011

Brief news about north San Francisco Bay area companies: RPM Mortgage opens San Rafael branch; Speedpro Imaging-Marin starts vinyl banner recycling; Marin General Hospital Foundation raises $340,000 for Spine & Brain Institute; Calix customer Vermont Telephone Company deplys optical network terminals; Russian River Valley wineries form tasting room network Taste Route 116
Team Jaworski wins RCU’s ‘Amazing Savers’

November 17th, 2011

SANTA ROSA — When Redwood Credit Union President and CEO Brett Martinez took to the podium tonight to present the $10,000 grand prize for the institution’s first “Amazing Savers” contest, he had an unexpected surprise for the runners up.
Who will be the winner of RCU’s ‘Amazing Savers’ contest?

November 14th, 2011

Redwood Credit Union’s spin on reality television will reach it’s finale on Thursday as the winner of the first-ever “Amazing Savers” contest is announced.
North Valley Bancorp appoints Patrick Kilkenny as director

November 14th, 2011

Mr. Kilkenny served as president, director and CEO of Redwood Empire Bancorp and National Bank of the Redwoods before retiring in 2006.
Difficult 2011 harvest not having big lending impact

November 14th, 2011

The cold 2011 season and wet harvest dampened North Coast crop yields by as much as one-third from norms by early estimates, and lenders are closely observing grower ability to make payments on crop and other loans with fewer tons to sell and higher vineyard-management costs.
Redwood Credit Union opens record number of new accounts

November 7th, 2011

SANTA ROSA — Redwood Credit Union opened six times more new accounts than average over the so-called “Bank Transfer Day” weekend, according to a release from the credit union.
Banking: Berthinier, Davis join North Valley Bank; Wells CEO addresses economy

November 7th, 2011

Joining the staff are Dianna Berthinier, who joined as senior vice president and regional manager in August; Terrance Davis, who joined as senior vice president and business banking officer in September; and Brian Rose, who also joined in September as vice president and commercial loan officer.
Summit State Bank, AltaPacific, Bank of Napa report improved earnings

November 7th, 2011

The most recent round of third quarter earnings reports from around the region.
Sebastopol branch for Redwood Credit Union opens Monday

November 4th, 2011

SEBASTOPOL — Santa Rosa-based Redwood Credit Union will open a new, full-service branch in Sebastopol on Monday, near the Pacific Market in the Fiesta Shopping Center.
Circle Bank names Sonoma County VP and area manager

November 2nd, 2011

Novato-based Circle Bank has hired long-time community banking executive Tom Rose for the newly created position of vice president/area manager for Sonoma County.
Hennessy Advisors announces dividend

October 31st, 2011

Hennessy Advisors announced a quarterly cash dividend of 2.5 cents per share today, payable on Dec. 8 to shareholders of record as of Nov. 15.
Summit State Bank reports 26% increase in income

October 31st, 2011

Summit State Bank reported $409,000 in net income for the third quarter of 2011, a 26 percent increase over the same quarter last year.
Lenders, legal experts caught off-guard in fed’s crackdown on pot dispensaries

October 31st, 2011

NORTH BAY — As the federal government moves to disrupt or disband medicinal marijuana dispensaries across Northern California — many of which operate legally according to state laws — an unlikely target has been thrust into the cross hairs of the sticky legal battle: banks and lenders.
Lender puts Bellisimo Vineyard into receivership

October 31st, 2011

The 153-acre Bellisimo Vineyard estate Sonoma County’s Knights Valley attracted attention in early 2008 when a publicly traded Chinese agriculture company purchased it for $14.75 million more than three years ago, but it passed quietly into receivership as this harvest was about to begin.