Irvine’s Pacific Premier Bancorp to buy Riverside-based Security Bank for $118.9 million

Irvine-based Pacific Premier Bancorp has authorized an agreement to get the holding firm of Waterfront’s Safety Financial institution of The golden state, along with its branches in Waterfront, Orange and San Bernardino counties.

The suggested offer, announced jointly, is expected to shut in very early 2016.

The price on Pacific Premier’s purchase is $118.9 million, according to an October 1 presentation to the financial institution’s shareholders. The offer is being cast as a way to boost the Orange County bank’s geographical impact and also its competitive placement.

“This is an eye-catching chance for us to get a traditional company banking franchise business which focuses on tiny and also center market businesses in Southern The golden state,” Pacific Premier’s president and also CEO Steven Gardner said in a statement announcing the offer.

Protection Bank is a first class business bank featuring a strong credit rating society and also appealing affordable core deposit base, Gardner added.

Obtaining Protection Financial institution, featuring $734 million in complete possessions and $654 million in total deposits as of Aug. 31, will drive Pacific Premier’s overall possessions to $3.4 billion, its overall financings outstanding to $2.6 billion as well as its complete down payments to $2.8 billion.

If the transaction meets regulative and investor approval, Pacific will certainly end up being the 8th largest business financial institution in Southern The golden state, Gardner stated.

“This is a rational combination which our company believe develops among one of the most desirable business banks in Southern California,” Safety and security’s CEO, James Robinson, stated. “Our consumers will enter into a $3.4 billion financial franchise which can offer bigger borrowing restrictions and a broadened range of services and products.”

Protection Financial institution operates 6 branches in Riverside, San Bernardino and Orange counties, plus a financing manufacturing workplace in Irwindale.

Pacific Premier, a business bank, has actually 16 branches spread out across Orange, Waterfront, San Bernardino and also San Diego Counties. It expects to combine three branches to decrease costs.

Unification is most likely in Tustin, Waterfront as well as Palm Desert, Gardner claimed, as Pacific gains markets in Murrieta, Temecula, Orange and also Redlands. Pacific plans to take part in work agreements featuring Robinson as well as Security Bank head of state Ernest Hwang, and maintain all relationship lenders and also a lot of executive managers.

Security’s shareholders will be able to exchange their shares for each 0.9629 share of Pacific Premier ordinary shares, which is detailed on NASDAQ.

The purchase worth was based upon a $20.32 closing price of Pacific Premier’s stock on Sept. 30. Security’s over the counter stock was trading at $19.57 each share.

Call the writer: 951-368-9423 or dgruszecki@pe.com!.?.!

UCI Biomedical Engineer Wins NIH Director’s New Innovator Award

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Grant supports Chang Liu’s work to engineer a synthetic genetic system

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UCI biomedical engineer wins NIH Director’s New Innovator Award
Grant supports Chang Liu’s work to engineer a synthetic genetic system

Irvine, Calif., Oct. 6, 2015 – Chang Liu, assistant professor of biomedical engineering at UCI’s Henry Samueli School of Engineering, has received a 2015 New Innovator Award from the National Institutes of Health director.

Designed to support exceptional innovation in biomedical research, the $2.3-million, five-year grant will fund Liu’s pioneering efforts to engineer synthetic genetic systems that can be used to advance the discovery and production of cancer drugs and useful enzymes.

Liu’s research team has created a living cell with a second DNA replication system that mutates independently of and without harming the cell’s original genome. This second replication system can be engineered with a wide range of capabilities that natural DNA replication systems cannot tolerate. In particular, Liu’s team believes it can imbue this synthetic system with the ability to evolve at drastically accelerated rates. This will be applied to develop enzyme pathways that biosynthesize complex drugs, which are normally accessed via expensive industrial chemical processes.

“DNA replication is the most central process of life, and we’ve developed a way to re-engineer it inside living cells,” said Liu. “We’re very excited about the possibilities. Not only will this let us rapidly evolve therapeutic biomolecules, it acts as a platform for building genetic systems from the ground up. We believe that these new genetic systems will in turn underpin synthetic organisms that can discover and produce therapeutics, antibiotics, materials, and polymers that natural biology has not dreamed of making.”

Liu is one of 78 scientists to receive the award, designed to stimulate highly innovative research and support promising new investigators, as part of the High-Risk, High-Reward Research program supported by the NIH Common Fund.

“This program has consistently produced research that revolutionized scientific fields by giving investigators the freedom to take risks and explore potentially groundbreaking concepts,” said NIH Director Francis S. Collins, M.D., Ph.D. “We look forward to the remarkable advances in biomedical research the 2015 awardees will make.”

Also this year, Liu received the Beckman Young Investigator Award, the DuPont Young Professor Award, and major grants from the National Science Foundation and the Defense Advanced Research Projects Agency to support his research.

About the University of California, Irvine: Currently celebrating its 50th anniversary, UCI is the youngest member of the prestigious Association of American Universities. The campus has produced three Nobel laureates and is known for its academic achievement, premier research, innovation and anteater mascot. Led by Chancellor Howard Gillman, UCI has more than 30,000 students and offers 192 degree programs. It’s located in one of the world’s safest and most economically vibrant communities and is Orange County’s second-largest employer, contributing $4.8 billion annually to the local economy. For more on UCI, visit www.uci.edu.

Media access: Radio programs/stations may, for a fee, use an on-campus ISDN line to interview UC Irvine faculty and experts, subject to availability and university approval. For more UC Irvine news, visit news.uci.edu. Additional resources for journalists may be found at www.communications.uci.edu/for-journalists.

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Collie Buddz Invites You to ‘Wake & Bake’ on New Track: Exclusive Premiere


Reggae artist Collie Buddz is looking for another hit. Swiftly following the release of his Blue Dreamz EP in September, which peaked at number three on the Billboard Reggae Albums chart, Buddz is now gearing up for the upcoming compilation album General Hydroponics Vol. Billboard is excited to premiere a taste of the album with the song “Wake & Bake” featuring Iamsu! Thinking it would be a perfect fit,” explains Buddz, “but then I got a call from Iamsu! Who heard the rhythm and immediately laid down his verse. Through the beginning of 2016.

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UCI Rally to Fight Climate Change With Art Falls Short of a Revolution

The College of The golden state, Irvine held a Day of Environment Activity celebration at the Claire Trevor School of the Arts last Friday night, joining 60 schools nationwide in a day of support for climate justice. About 40 individuals showed up to UCI’s Day of Climate Activity, with the majority of the assistants being personnel and also coordinators.

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