F&M Bank Commits $2 Million to Enhance Community Development and Economic Opportunities

F&M Bank Invests in Community Development Through Historic Capital Commitment

Farmers & Merchants Bank of Long Beach (F&M Bank) announces a landmark commitment of $2 million to Clearinghouse Community Development Financial Institution (Clearinghouse CDFI), marking the largest capital raise in the organization's history. This investment is part of a broader recapitalization effort launched in late 2024, aimed at enhancing Clearinghouse CDFI's capacity to deliver affordable financing solutions to low- to moderate-income communities. By addressing a significant gap in conventional financial markets, this investment represents a strategic alignment with F&M Bank’s ongoing mission to uplift underserved populations.

Since its inception in 1996, Clearinghouse CDFI has played a crucial role in economic development, having funded $2.7 billion in loans across 2,732 community projects. These efforts have not only generated over 43,856 jobs but have also facilitated the creation of 13,548 affordable housing units, benefiting more than 5.1 million individuals. F&M Bank’s substantial capital infusion is expected to enable Clearinghouse CDFI to expand its lending capabilities, thereby furthering its mission to provide economic opportunities for those who struggle to access conventional financing. W. Henry Walker, CEO of F&M Bank, expresses confidence in the leadership of Clearinghouse CDFI to effectively utilize this investment, emphasizing the potential for significant community impact.

F&M Bank’s dedication to community service is further evidenced by its "Outstanding" rating in the 2022 Community Reinvestment Act examination. This recognition highlights the bank's commitment to serving traditionally underserved populations and fostering economic growth in the regions it operates. With a rich history dating back to its founding in Long Beach in 1907, F&M Bank continues to maintain a robust network of 27 branches spanning from San Clemente to Santa Barbara, offering comprehensive banking services that include commercial and small business banking, home loans, and consumer retail banking products.

In addition to its recent investment, F&M Bank's unwavering commitment to community development reinforces its reputation as a leader in the financial industry. As the bank continues to explore ways to support economic growth and community empowerment, its partnership with Clearinghouse CDFI exemplifies a proactive approach to addressing the financial needs of low- to moderate-income communities. For more information about F&M Bank and its services, visit www.FMB.com.