Community Reinvestment Act Statement of Activity
Torrey Pines Bank is highly committed to reinvest in the communities where we do business to ensure a brighter future for everyone. We strive both as a company and as individuals to improve the quality of life for area businesses and people. The Bank is committed to helping serve the banking and credit needs of its entire community, including low and moderate income individuals.
Our commitment to the community is achieved by supporting worthwhile projects through lending and deposit services, investments and charitable grants to organizations, homeownership loan programs for low and moderate income individuals, loans to small businesses and investments in institutions that support community development and cultural enrichment.
 In 2010 Torrey Pines Bank committed to capital investments of $4 million in qualified CRA investments between 2010 – 2012. These investments will help promote affordable housing and small business enterprise.
The Bank participates in the CRA Fund which seeks out and invests in affordable housing opportunities within San Diego County. The Bank’s previous investment of $1 million was matched in 2010 with an additional $1 million investment.
The Bank has also made an immediate $50,000 investment to Accion San Diego, a locally based lender of microloans ranging from $200 to $35,000 for small businesses that have annual gross revenues of less than $1 million. Accion San Diego is a valuable community resource that furthers small businesses access to capital to grow and operate their venture.
In 2009 the Bank provided a $1 million line of credit to Community Housing Works, a locally based non-profit developer of affordable and sustainable housing for home owners and renters. The investment has been used to help educate first time homebuyers as well assist qualified homeowners refinance out of sub-prime mortgages into more affordable, 30 year fixed rate mortgage loans.
The Bank continues to hold investments in local community development financial institutions (CDFI) whose mission is the advancement of community development investments and initiatives within San Diego County.
Torrey Pines Bank is dedicated to providing support and assistance to our community through our Charitable Contributions Program, which is directed to 501( c )3 non-profit organizations that provide services and support in the low and moderate income areas. In 2009 the Bank gave over $275,000 in grants and contributions to local non-profit organizations.
The Bank is actively involved with nonprofits throughout San Diego County. Our business model provides for cash back contributions to non-profits that are banking customers as a means of helping non-profits achieve their stated missions.
Bank employees serve on the Board of Directors for several non-profit organizations and our corporate giving includes several YMCA and YWCA organizations, the Boys and Girls Clubs, Community Housing Works, Becky’s House, Home of Guiding Hands, to name a few.
The Bank continues to be responsive to the banking, credit and community development needs of its assessment area and continues to seek out opportunities to invest in San Diego.
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