Daily Business Report — March 7, 2013
Irvine-Based Bank Acquiring San Diego Trust Bank
Irvine-based Pacific Premier Bancorp Inc. is acquiring San Diego Trust Bank, a local institution founded by Michael E. Perry, in a deal valued at $30.6 million. San Diego Trust had $242 million in total assets and $187.9 million in total deposits as of Dec. 31 last year. Perry serves as chairman, president and chief executive officer of San Diego Trust. The announcement by Pacific Premier said he “will remain engaged as a shareholder and supporter of the combined entity.”
Tony Reschan, San Diego Trust’s chief operating officer, will be retained as the senior executive for Pacific Premier in the San Diego region and will be responsible for overseeing existing offices and continued expansion, according to the announcement.
The combined banks will have total assets of $1.7 billion.
Steven Gardner, president and CEO of Pacific Premier, described San Diego Trust as one of the top performing banks in the region. “This acquisition will enable us to introduce the Pacific Premier brand, products and services into a new market with similar demographics to our current footprint,” said Gardner. His bank operates banking offices in 10 locations in Southern California.
Before Perry started organizing San Diego Trust, he was senior vice president and manager of the commercial banking division for Scripps Bank/US Bank in San Diego. Of the merger with Pacific Premier, he said:
“Our clients will benefit from the increased lending capacity as a result of this merger and the broad array of financial services and products that Pacific Premier currently offers.”
San Diego Trust’s corporate office is on Fifth Avenue in Downtown San Diego. It has branches in Encinitas and Point Loma.
Filner’s Plan for Port Gets
City Council Panel Backing
City News Service — Mayor Bob Filner’s plan to use the Port of San Diego as a center of job creation received support from three City Council members at its first public airing Wednesday. Filner told the council’s Rules and Economic Development Committee that by 2020, he wants to add 6,000 high-paying jobs along San Diego’s waterfront; reduce air, water and greenhouse gas emissions by 20 percent; increase exports by one-third; and build infrastructure to move cargo from ships to ground transportation lines. Among his strategies are to make sure San Diego companies use local facilities for imports and exports, lead trade delegations overseas and welcome representatives of other countries, get manufacturers in Mexico to use San Diego’s port, and make more effective use of port real estate. The mayor, who frequently touted the port’s potential as an engine for generating higher employment during last year’s mayoral campaign, also called for revitalization of the area’s fishing industry and continued support for the military.
California Leads Nation
In Creation of Green Jobs
A new report finds California had nearly a quarter of all green jobs created last year. Environmental Entrepreneurs tracks the creation of green jobs on a monthly basis, KPBS reports. The 2012 wrap-up found firms announced the creation of 110,000 green jobs last year. About 26,000 of those jobs were in California. The positions range from jobs created by solar and wind farms to positions needed to build large mass transit projects. And the people who put together the report are not surprised California is a leader. “California has great natural resources in the sun and the wind that you have in the state, and in San Diego specifically.But also very importantly is the state’s aggressiveness in making this happen,” said Bob Keefe of Environmental Entrepreneurs. The state’s renewable energy standards will ensure more green jobs will be created in the future, according to Keefe. A third of all power used in the state will have to come from renewable sources by 2020.
New Cancer Council Combines
San Diego Centers’ Strengths
Three San Diego cancer research centers — the UC San Diego Moores Cancer Center, Salk Institute for Biological Studoes and the Sanford-Burnham Medical Research Institute have formed a collaboration to combine resources and talents. It’s called the San Diego National Cancer Institute Cancer Centers Council, or C3. “The mission of C3 is to both exploit and create collaborative opportunities that can only happen in a place like San Diego, with so many exceptional cancer scientists and physicians,” said Scott Lippman, director of the UC San Diego Moores Cancer Center. “Our goal is to build a structure for increased interaction among the cancer center faculties, leading to a deeper understanding of cancer and, ultimately, more and better treatments.” Says Tony Hunter, director of the Salk Institute Cancer Center, “The C3 partnership will allow us to build on the city’s foundation of groundbreaking cancer research and harness our collective strengths to produce the next generation of therapies.”
Landscape Architectural Firm to Handle
Redevelopment of UC San Diego Theatre District
Spurlock Poirier Landscape Architects have been chosen to handle a $1.5 million redevelopment of the UC San Diego Theatre District, an area that houses the La Jolla Playhouse and the UCSD Theatre and Dance Department. The work, expected to be completed in August, includes upgrades and enhancements to 1.8 acres on the campus. “Our ultimate focus is to improve the visitor experience and accessibility to the theaters, while enhancing the theatera’ strong sense of place in the Eucalyptus grove,” said Yu-Ju Liu, associate principle of the architectural firm.
Prize-Winning Molecular Biologist to Address
Rock Stars of Innovation Summit on April 12
Napoleone Ferrara, senior deputy director for basic sciences at UC San Diego Moores Cancer Center, will be the closing keynote speaker at the Rock Stars of Innovation Summit on April 12. The conference, sponsored by CONNECT and Xconomy, is scheduled for April 11-12 at the Hard Rock Hotel in Downtown San Diego. Ferrara, a molecular biologist, was recently honored as one of the first winners of the Breakthrough Prize in Life Sciences Award – a $3 million prize. The opening keynote speaker will be Chris Anderson, former Wired editor-in-chief, CEO of 3D Robotics and author of best-selling book “The Long Tail: Why The Future of Business is Selling Less of More and Makers: The New Industrial Revolution.” Other speakers will include Rick Valencia, vice president and general manager, Qualcomm Life Inc.; Scott Lippman, director, UC San Diego Moores Cancer Center; and Mark Stevenson, president and COO of Life Technologies Corp., among others.
NewSchool of Architecture and Design
Instructors Win Award for Tijuana Library
Adriana Cuellar, a faculty member at the NewSchool of Architecture and Design, and part-time instructor Marcel Sanchez have received the 60th annual Progressive Architecture Award for their work designing a library in Tijuana. Theirs is among 10 projects from around the world that are being recognized for designs that engage people with architectural accessibility and relevance. Both Cuellar and Sanchez have taught classes at NSAD; Sanchez is a full-time instructor at Woodbury University’s San Diego campus and Cuellar works primarily at NSAD as an adjunct faculty member in the Department of Architecture. The Modulo-Prep Library project is located in a flood-prone urban development area in the informal settlement of Camino Verde in Tijuana. The project was developed through the firm of Cuellar and Sanchez, CRO studio. The 2,368-square-foot library project the CRO studio designed in is a series of sequential interior and exterior “stages.” or scenarios, that connect the amphitheater, the library and the urban plaza.
Darlene Shiley Commits $5 Million
Toward Musculoskeletal Care Facility
Philanthropist Darlene Shiley has committed $5 million to support advanced orthopaedic care and research at
Scripps Clinic’s comprehensive musculoskeletal care facility, which will centralize orthopaedic surgery, neurosurgery, sports medicine, podiatry, rheumatology and research. The Donald P. and Darlene V. Shiley Musculoskeletal Center will provide patients with access to a wide range of medical services in a specially designed location on the first floor of the Scripps Clinic Torrey Pines Anderson Outpatient Pavilion in La Jolla. By centralizing programs, patients will save time and will benefit from enhanced care quality. The project is scheduled to begin this June and should be completed by January 2015.
New Restaurant Services Pathway Building
Opened on El Cajon Valley High Campus
The new Restaurant Services Pathway Facility at El Cajon Valley High School has officially been opened, a 15,200-square-foot building that includes Wigwam, the only student-staffed commercial restaurant in the Grossmont Union High School District. The building upgrades are part of a career technical education program that gives students hands-on technology training and skills. Students will learn about restaurant and culinary occupations, develop culinary skills, create recipes, prepare for the Food Handler’s Card test, visit professional kitchens and learn how to apply these new skills in their future careers.
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The Daily Business Report is produced by SD METRO. Contact: Manny Cruz (619) 287-1865. manny@sandiegometro.com.
