TORREY PINES BANK HELPS SUPPORT HOMEBOY INDUSTRIES WITH $50,000 GRANT THROUGH FEDERAL HOME LOAN BANK OF SAN FRANCISCO’S AHEAD PROGRAM
Grant from FHLB and Torrey Pines Bank will be used to train at-risk youth in green, sustainable trade of solar panel installation
San Diego and Los Angeles, February 9, 2011 - Torrey Pines Bank, a leading, local commercial bank with offices throughout San Diego County, Los Angeles and The Bay Area and an affiliate of Western Alliance Bancorporation, today announced that it has helped to sponsor a $50,000 grant to Homeboy Industries through Federal Home Loan Bank (FHLB) of San Francisco’s Access to Housing and Economic Assistance for Development (AHEAD) Program. The grant will be used to train at-risk youth, formerly involved with gangs, in the rapidly growing eco-conscious trade of solar panel installation. FHLB partners with member banks, such as Torrey Pines Bank, to support job training and economic development through its AHEAD Program.
Homeboy Industries, recognized as the largest gang intervention and re-entry program in the country, assists at-risk and former gang-affiliated young people to become contributing members of the community. The grant will provide Homeboy’s East Los Angeles Skills Center with stipends for training and funds for tool kits and support services for students enrolled in its Solar Panel Training and Certification Program.
The check was presented by Paul Donaldson, division president, and Adam Djou, senior vice president, of Torrey Pines Bank and representing FHLB, to Father Greg Boyle, founder of Homeboy Industries, at HomegirlCafe, one of the non-for-profit group’s four social enterprise businesses, located at 130 W. Bruno in Los Angeles.
“It is a privilege to present this check to Homeboy Industries. I’ve worked with Homeboy Industries for many years. Torrey Pines Bank is proud to be the bank for a leading not-for-profit organization like Homeboy, and other leading area businesses, giving them access to veteran bankers who understand L.A. and can help them maximize cash flow and meet their business needs,” said Adam Djou of Torrey Pines Bank.
“The solar industry is green-focused and rapidly expanding, and these kids are going to benefit from learning practical skills in a sustainable trade,” said Paul Donaldson, executive vice president and division president for Torrey Pines Bank.
Homeboy Industries, now located in the heart of downtown Los Angeles, is recognized as the largest gang intervention and re-entry program in the country, and has become a national model. The organization assists at-risk and former gang involved youth to become contributing members of their community through a variety of services in response to their needs. Free programs--including counseling, education, tattoo removal, job training and job placement--enable young people to redirect their lives and provide hope for their futures.
Homeboy Industries was founded by Father Gregory Boyle. Father Greg, as he likes to be called, is an acknowledged expert on gangs and successful intervention strategies and has been nationally recognized and received numerous awards including the California Peace Prize, which he received twice from the California Wellness Foundation. Father Greg has also received The Lifetime Achievement Award from MALDEF, and been an honoree of the John Harvard Award for Distinguished Service to the Community by Harvard Club of Southern California.
The Access to Housing and Economic Assistance for Development (AHEAD) Program provides grants to support economic development and housing projects during the conception and early development stages. The AHEAD program is partially funded by dividends member banks forego in order to allow FHLB to achieve its community development activities. A recoverable grant program, AHEAD, funds projects that produce housing, services, and other benefits for low- to moderate-income households, result in the creation and retention of jobs in the community, and facilitate public or private infrastructure projects. Homeboy Industry’s grant was one of the largest awarded by the AHEAD program, thanks to dividends from Torrey Pines Bank.
In 2003, Torrey Pines Bank started with $20 million in initial capital and a single office with seven employees. Today, the bank has $1.5 billion in assets, 11 branches throughout California and more than 185 employees. The bank is committed to giving back to the local community. Since its inception, Torrey Pines Bank has donated more than $1 million to charitable causes. The bank was awarded “Best Place to Work” by the Society of Human Resources Management in 2006 and was a recipient of the Peak Performance Award presented by National University School of Business in 2008. Torrey Pines Bank was also named Most Admired San Diego Company by SDMetro earlier this year.
**Photo available upon request**
About Torrey Pines Bank
Torrey Pines Bank is a California-chartered commercial bank, providing commercial and financial services to small and middle market businesses, and personal banking services to proprietors, employees, executives and consumers desiring a personal banking relationship. Information about products and services offered by Torrey Pines Bank is available at www.torreypinesbank.com.
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