January 10, 2017 PASADENA, Calif.- Community Bank (OTC: CYHT), founded in 1945, is a family-owned Southern California regional community bank, with assets of $3.5 billion, and headquartered in Pasadena with 17 business centers.
The Bank recently added a $700,000 equity investment in Clearinghouse Community Development Financial Institution (Clearinghouse CDFI) Class A stock. This is Community Bank’s second investment in Clearinghouse CDFI which enhances Clearinghouse CDFI’s ability to address unmet credit needs in distressed areas throughout California.
“Community Bank’s significant investment strengthens our mission to finance community development projects in Southern California’s low-income neighborhoods,” said Douglas Bystry, President and CEO of Clearinghouse CDFI. “We are grateful for this most recent investment from Community Bank, and we look forward to working closely with their outstanding staff to improve distressed communities.”
Clearinghouse CDFI will leverage Community Bank’s investment to provide financing for community facilities, affordable housing, small business loans, commercial real estate, and other projects in California’s low-income neighborhoods.
“We are pleased to strengthen Community Bank’s support of Clearinghouse CDFI’s mission-driven lending projects designed to improve low-income and distressed communities,” said David R. Misch, Chief Executive Office. Misch continued “We believe this partnership will contribute to strengthening the financial health and well-being of the broader communities that we serve.”