Bank announces $500 million mark
American Business Bank announced Monday that it crossed the banking milestone of $500 million in assets in less than seven years of operations.
The Los Angeles-based bank, founded in 1998 by five former business banking executives, provides financial services to businesses in the middle market.
According to President and Chief Executive Officer Donald P. Johnson, the bank reported $518 million in total assets at the close of business on July 29.
Emerson named to post at Big 5
EL SEGUNDO - Big 5 Sporting Goods Corp. announced Monday the appointment of Barry D. Emerson as the company's senior vice president, chief financial officer and treasurer, beginning early next month.
Emerson has more than 20 years of accounting and financial management experience, including CFO positions with U.S. Auto Parts Network, an Internet direct marketer of automotive replacement parts and accessories, and Elite Information Group, a software developer that traded on the Nasdaq National Market before being acquired.
Emerson also was employed by Wyle Electronics for 15 years, where he held the titles of vice president and corporate controller.
Sony TV leaders to push expansion
CULVER CITY - Sony Pictures Television International announced Monday the promotions of two senior-level executives helping to lead its global expansion.
Andy Kaplan was promoted to president, International Networks, and John McMahon was named president and managing director, Europe.
Both report to SPTI President Michael Grindon.
SPTI is the division of Sony Pictures Entertainment responsible for all television businesses outside of the United States.
Treasury auctions $18 billion in bills
WASHINGTON - The Treasury Department on Monday auctioned $18 billion in three-month bills at a discount rate of 3.460 percent, down from 3.470 percent last week. Another $16 billion in six-month bills was auctioned at a discount rate of 3.690 percent, down from 3.705 percent last week.
The three-month rate was the lowest since three-month bills averaged 3.400 percent on Aug. 1. The six-month rate was the lowest since 3.680 percent on Aug. 8.
Regulators suing former drug execs
WASHINGTON - Two former executives of Bristol-Myers Squibb Co., previously indicted on criminal conspiracy and securities fraud charges, were sued Monday by federal regulators who accused them of civil fraud in orchestrating a $1.5 billion scheme to deceive investors about the company's performance.
The Securities and Exchange Commission announced the lawsuit against Frederick Schiff, Bristol-Myers' former chief financial officer, and Richard Lane, former executive vice president and president of the pharmaceutical company's worldwide medicines group.
The SEC is seeking unspecified civil penalties against the two former executives.