American River Bank assists two local charities in securing $70,000 in grants from Federal Home Loan Bank of San Francisco’s AHEAD Program
Women’s Empowerment to receive $45,000, Amador College Connect to receive $25,000
Sacramento, CA, January 11, 2019 - American River Bankshares (NASDAQ-GS: AMRB) is pleased to announce the two local recipients of grants from Access to Housing and Economic Assistance for Development (AHEAD) a program of the Federal Home Loan Bank of San Francisco (FHLB San Francisco). American River Bank sponsored and helped guide the two recipient organizations through the application process. This year’s recipients include Women’s Empowerment in Sacramento which will receive $45,000 to continue to develop and expand the use of their “Get A Job Kit” which helps program graduates successfully find employment and stay out of homelessness. The second grant recipient is the Amador Community College Foundation’s Amador College Connect which will receive $25,000 to support their apprenticeship program in culinary and hospitality arts at Jackson Rancheria Casino Resort. Graduates of the intensive eight-month program will earn a culinary arts certificate and guaranteed employment at the Casino.
This year, the FHLB San Francisco received 192 applications requesting over $8.4 million in funding and awarded $1.5 million in grants to 54 projects that will boost economic development activity and promote stability and self-sufficiency in communities throughout Arizona, California and Nevada. Grant amounts ranged from $10,000 to $50,000. Three programs were selected to receive grants in the Greater Sacramento and Amador regions, two of which were sponsored by American River Bank. Those programs receiving grant awards will continue to work with American River Bank throughout the year to meet reporting milestones and adhere to FHLB San Francisco requirements for success in the program.
“We are pleased to assist in securing $70,000 for two very worthy local charities in the Sacramento and Amador regions,” explained David E. Ritchie, Jr, President & CEO of American River Bank and President of American River Bank Foundation. “This is an extremely competitive process and Cecilia Miles, VP of Loan Operations and our CRA Officer, worked tirelessly leading the process,” he said. “This type of personal dedication to local growth exemplifies our goal as a Community Bank.”
FHLB San Francisco grants support nonprofit efforts to address pressing community development issues, including job training and financial education for underserved communities, technical assistance and capacity building for community development organizations, micro lending and small business incubation for low-income entrepreneurs, and the special needs of at-risk youth, veterans, persons with disabilities, the formerly incarcerated, and tribal communities.
“Our commitment to the communities we serve takes precedence in our business decisions,” said Cecilia Miles. “We strive to help our clients while always considering the larger economic impact and delivering on our brand promise,” she added.
About the AHEAD Program by the Federal Home Loan Bank of San Francisco
Only Bank members may submit applications for AHEAD grants. During the annual application period, members working in partnership with community-based nonprofit organizations may apply for grants for specific projects, which must be located in Arizona, California or Nevada. Interested nonprofits should contact a Bank member early in their planning process about partnering on an application. To learn more about program eligibility and requirements, review the AHEAD Program Application and Budget (for reference only), AHEAD Program Profile, AHEAD Program Agreement and watch a video recording of an AHEAD Program Webinar.
About American River Bankshares
American River Bankshares is the parent company of American River Bank, a regional bank serving Northern California since 1983. We give business owners more REACH by offering financial expertise and exceptional service to complement a full suite of banking products and services. Our honest approach, commitment to community and focus on profitability is intended to lead our clients to greater success. For more information, call (800) 544-0545 or visit AmericanRiverBank.com.
Mitchell A. Derenzo
Executive Vice President, Chief Financial Officer
American River Bankshares
Senior Vice President, Marketing & Community Engagement
American River Bankshares