American Business Bank Supports Seven Local Charities Serving LA Fire Victims

AMERICAN BUSINESS BANK (OTCQX: AMBZ) donates $70,000 to seven non-profit organizations serving the communities directly affected by the recent Southern California fires in January. The Federal Home Loan Bank of San Francisco (FHLBank San Francisco) contributed an additional $50,000 in matching funds, bringing American Business Bank’s donation total to $120,000.

The organizations benefitting from these donated funds include the American Red Cross, Baby2Baby, California Fire Foundation, Habitat for Humanity Los Angeles Rebuild LA Fund, Hope the Mission, LA Fire Department Foundation, and the Pasadena Community Foundation. These organizations provide support to residents who suffered losses from the Palisades and Eaton fires.

“It was an innate response for the Bank and its staff to extend support to the affected communities, and through the wonderful work by these organizations, we are grateful to be part of their efforts to help victims rebuild and recover from such horrible disasters,” said Leon Blankstein, Chief Executive Officer and Director of American Business Bank.

American Business Bank is proud to be associated with all seven of these nonprofits and support their impact for relief from the devastation of the Southern California Wildfires. The funds provided make it possible for these charities to respond within 48 hours of the crisis. “It is this kind of responsiveness that aligns with ABB’s core values,” stated Bruce Gumbiner, SVP and CRA Officer of American Business Bank.

“We are thankful to all of the first responders for their bravery and perseverance in battling the devastating wildfires in Southern California that destroyed over 10,000 homes and displaced tens of thousands of people,” said Joe Amato, interim president and CEO, and chief financial officer with FHLBank San Francisco. “As the region begins a lengthy rebuilding effort, we will continue to partner with our members, including American Business Bank, to work with community stakeholders to deliver much needed grants and funding to local organizations that serve a vital role in local community relief and recovery efforts.”

Additionally, American Business Bank staff members extended their support with a Teddy Bear Drive event. Staff collectively donated 270 teddy bears to the children affected by the Los Angeles fires. Staff members personally delivered the bears to two schools in the Eaton and Palisades communities. Many children in these communities lost their belongings due to the fires and through this special contribution the children can find comfort and healing from their new teddy bear.

ABOUT FHLBANK SAN FRANCISCO

The Federal Home Loan Bank of San Francisco is a member-driven cooperative helping local lenders in Arizona, California, and Nevada build strong communities, create opportunity, and change lives for the better. The tools and resources we provide to our member financial institutions — commercial banks, credit unions, industrial loan companies, savings institutions, insurance companies, and community development financial institutions — propel homeownership, finance quality affordable housing, drive economic vitality, and revitalize whole neighborhoods. Together with our members and other partners, we are making the communities we serve more vibrant, equitable, and resilient.

ABOUT AMERICAN BUSINESS BANK

American Business Bank provides a full spectrum of financial solutions for businesses and nonprofit organizations and has specialists to help companies manage cash flow, financial growth and assist with business solutions. American Business Bank, headquartered in downtown Los Angeles, offers a wide range of financial services to the business marketplace. Clients include wholesalers, manufacturers, service businesses, professionals, and non-profits. American Business Bank has eight Loan Production Offices in strategic locations including: North Orange County in Anaheim, Orange County in Irvine, South Bay in Torrance, San Fernando Valley in Woodland Hills, Riverside County in Corona, Inland Empire in Ontario, LA Coastal in Long Beach and San Diego.

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