OneWest Bank, FSB Establishes New $10 Million Foundation

PASADENA, Calif.--(BUSINESS WIRE)--OneWest Bank, FSB announced today the creation of the OneWest Foundation, a new nonprofit public benefit corporation funded with a $10,000,000 contribution from OneWest Bank, FSB. The Foundation is being established to actively invest in the communities in which the Bank operates its branch network. “We are very committed to supporting the communities in meaningful ways through our charitable efforts including significant contributions from our employees in community service activities,” said Steven Mnuchin, Chairman of OneWest Bank. “Especially in these difficult economic times, we are very focused on helping to support programs that will have a meaningful impact in the community.”

“We are very committed to supporting the communities in meaningful ways through our charitable efforts including significant contributions from our employees in community service activities”

The Bank is committed to being a strong community partner by investing in organizations that help build stronger communities. The provision of affordable housing, healthcare, education, and financial literacy are high priorities for the Foundation, as well as other important community development efforts that develop, stabilize or rehabilitate underserved communities.

The OneWest Foundation will be headquartered in Pasadena, CA and will begin making grants later this year.

About OneWest Bank, FSB

OneWest Bank, FSB is a regional bank focused on delivering personalized, relationship-based banking to its customers. The bank has 72 retail branches in Southern California with approximately $11 billion in deposits and total assets of $24 billion, including a loan portfolio, a securities portfolio, a servicing platform with mortgage servicing rights (MSRs) representing over 550,000 borrowers, and a reverse mortgage platform -- Financial Freedom. OneWest is an FDIC-insured institution and funds deposited in the bank are insured up to the FDIC’s insurance limit of $250,000 per depositor. Information about OneWest Bank can be found on the company’s website at www.onewestbank.com.