LOS ANGELES, CA – As Los Angeles hits six months since the onset of the January wildfires, Bank of America continues to support impacted clients, employees and communities and their evolving recovery needs. Most recently, BofA directed more than $1 million in additional philanthropic capital to local nonprofits that are providing resources ranging from helping small businesses reopen and families navigate complex legal, insurance and debris removal needs, to providing health and trauma counseling, as well as ongoing housing and supplemental food resources.     

The latest round of giving brings BofA’s total fire-related contributions to more than $3.5 million, in addition to helping thousands of its clients and hundreds of employees and their families with their recovery needs. These efforts have been led by Bank of America Business Banking president Raul A. Anaya, an Angeleno who was tapped by company CEO Brian Moynihan to focus full time on leading the company’s recovery efforts.

“Having helped clients through disasters over many years, Bank of America has the expertise, capital and connections to help Los Angeles rebuild following this tragedy. From our immediate initial response to the fires in January to pivoting as needs change over time, our aim is to help all Angelenos recover. We’re doing this together with the region’s incredible public, private and nonprofit sectors,” said Anaya.

Small business relief and recovery have been a notable focus for the bank, including $400,000 recently directed to small businesses through three local Community Development Financial Institutions (CDFIs) to provide technical coaching and low-cost microloans. This is in addition to funding and support to chambers of commerce and other business support entities, as well as awarding BofA grants directly to impacted small businesses. 

Additionally, having two of its own financial centers destroyed by the fires in Altadena and the Pacific Palisades, BofA quickly opened a temporary mobile center and has committed to rebuilding new permanent financial centers in those communities. The company also leveraged its vast experience to successfully reunite more than 2,000 safe deposit box clients with their possessions from the two locations that were destroyed by the fires, thanks to a team of nearly 100 vault and safe box experts.

Bank of America leaders have also been working with government officials and other leaders on ways to help impacted homeowners and communities through issues ranging from insurance challenges to rebuilding needs.

For impacted individuals, businesses and communities, Bank of America’s new Helping Los Angeles Rebuild webpage provides a one-stop-shop with helpful information and resources.

Bank of America

Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 69 million consumer and small business clients with approximately 3,700 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 59 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries. Bank of America Corporation stock is listed on the New York Stock Exchange (NYSE: BAC).

Reporters may contact:

Colleen Haggerty, Bank of America   
Phone: +1.213.621.7414
colleen.haggerty@bofa.com