In the wake of devastating wildfires that ravaged Southern California earlier this year, American Business Bank (OTCQX: AMBZ) has taken a significant step to support affected communities. The bank has donated $70,000 to seven non-profit organizations serving areas impacted by the January fires. This contribution was further bolstered by an additional $50,000 in matching funds from the Federal Home Loan Bank of San Francisco, bringing the total donation to $120,000.
The January 2025 Southern California wildfires were a series of 14 destructive blazes that affected the Los Angeles metropolitan area and San Diego County. These fires, exacerbated by drought conditions and hurricane-force Santa Ana winds, resulted in at least 29 fatalities, forced over 200,000 evacuations, and destroyed more than 18,000 homes and structures.
The beneficiary organizations of American Business Bank’s donation 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 are at the forefront of providing support to residents who suffered losses from the Palisades and Eaton fires, which were among the most destructive in the series.
Leon Blankstein, Chief Executive Officer and Director of American Business Bank, emphasized the bank’s commitment to community support. “It was an innate response for the Bank and its staff to extend support to the affected communities,” Blankstein stated. “Through the wonderful work of these organizations, we are grateful to be part of their efforts to help victims rebuild and recover from such horrible disasters.”
The bank’s contribution is particularly impactful as it enables these charities to respond swiftly to the crisis. Bruce Gumbiner, SVP and CRA Officer of American Business Bank, noted that this rapid response capability aligns closely with the bank’s core values.
In addition to the monetary donation, American Business Bank staff members organized a Teddy Bear Drive, collecting and personally delivering 270 teddy bears to children in the affected Eaton and Palisades communities. This gesture aimed to provide comfort to children who lost their belongings in the fires.
The Federal Home Loan Bank of San Francisco, which provided the matching funds, also expressed its commitment to the region’s recovery. Joe Amato, interim president and CEO, and chief financial officer of FHLBank San Francisco, stated, “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.”
This initiative by American Business Bank demonstrates the crucial role that financial institutions can play in disaster recovery and community support. As Southern California continues its recovery and rebuilding efforts, such corporate engagement will remain essential in helping affected communities regain their footing and resilience.
