BIZ BITES

Fashion Island outlet get more room for furniture

Shabby Chic’s Fashion Island store unveiled a new half to its sales floor this week, knocking down a wall to expand into a vacant storefront adjacent to the outlet.

The move, which will make the Fashion Island store the largest in the country, nearly doubles its size from 2,200 to 4,100 square feet.

“The move gives us more space to show — we had a very small store before, and we carry a lot of large furniture — it wasn’t very easy to maneuver around,” sales associate Lindsay Hillman said. “Now we have a very large store, and it’s much more open, has a much nicer feel to it.”

The company, which was founded in 1989, specializes in versatile, stylish furniture.

Locally started bank makes bank in initial capital

California Republic Bank announced a record-setting capitalization this week, securing $52 million in initial capital that will make the start-up the largest independent bank ever formed in the state.

The bank, which opened as a state chartered financial institution in Newport Beach last December, reported total assets of about $75 million after four months of operations.

“While many banks are focused on liquidity and loan problems, we have created a high-quality, well capitalized financial institution,” Chief Executive Robert Bulseco said in a statement. “We have the management, staff and quality products necessary to offer superior service to our client base.”

Those interested in purchasing stock can call Michael Natzic at (800) 288-2811.

— Chris Caesar