Beneficial State Bank in Boyle Heights (formerly Pan American Bank) was originally established in 1964 by Romana Acosta Bañuelos, the first Latina United States Treasurer. The then, Pan American Bank, opened its doors with the mission of serving the under-represented and under-served consumers and small businesses of East Los Angeles. Today Beneficial State Bank maintains a fully-bilingual staff (English/Spanish) ready to meet the needs of its customers. The Bank has become nationally recognized as a leading community bank based on its advocacy-based style of banking.
The original Beneficial State Banks were formerly known as the One PacificCoast Bank, FSB & OneCalifornia Bank and is an Oakland, California-based community development bank. Founded by Tom Steyer and his wife, Kat Taylor, in June 2007, Beneficial State Bank functions as a regulated financial institution, but provides commercial banking services to underserved small and medium-size businesses, nonprofits, affordable-housing developers, community facilities, as well as families and individuals in the Southwest.
In August 2010, the bank signed an agreement to acquire Shorebank Pacific, a Washington-based community bank. Together the merged banks would have $300 million in combined assets and serve California, Oregon and Washington. In January 2013, the bank acquired 90% of the stock of Albina Community Bank based in Portland, OR.
For more information visit https://beneficialstatebank.com/ or call (323) 264-3310.