Farmers & Merchants Bank of Long Beach Invests $2 million in Clearinghouse CDFI

Rhea-AI Summary

Farmers & Merchants Bank of Long Beach (F&M Bank) has announced a $2 million capital investment in Clearinghouse Community Development Financial Institution (Clearinghouse CDFI), a mission-based lender serving low- to moderate-income communities. This investment is part of Clearinghouse CDFI's largest capital raise campaign, which began in late 2024.

Clearinghouse CDFI has a proven track record since 1996, having funded $2.7 billion in total loans for 2,732 community projects. These initiatives have created or retained 43,856 jobs, benefiting over 5.1 million individuals and creating 13,548 affordable housing units. F&M Bank, which received an 'Outstanding' rating in its 2022 Community Reinvestment Act examination, has maintained a 30-year relationship with Clearinghouse CDFI.

Positive

• Investment strengthens F&M Bank's community development portfolio
• Received 'Outstanding' rating in 2022 Community Reinvestment Act examination

Negative

• None.

 F&M Bank’s investment will fund jobs, affordable housing, and other community development opportunities benefiting low- to moderate-income communities

LONG BEACH, Calif.--(BUSINESS WIRE)-- Farmers & Merchants Bank of Long Beach (F&M Bank) announced today a $2 million capital investment in Clearinghouse Community Development Financial Institution (Clearinghouse CDFI), a mission-based lending institution serving low- to moderate-income communities. F&M Bank’s investment is part of a recapitalization campaign for Clearinghouse CDFI, which began in late 2024.

Pictured left to right: Colin Wegener, CFO of Clearinghouse CDFI; W. Henry Walker, CEO of F&M Bank; Douglas J. Bystry, President and CEO of Clearinghouse CDFI; Kevin M. Tiber, President of F&M Bank; Jeff R. Spinelli-Faris, Senior Vice President and Regional Manager of F&M Bank (Photo: Business Wire)

“We are pleased to have F&M Bank join us in the single largest capital raise in Clearinghouse CDFI’s history. This investment will enable us to increase our lending to support vulnerable communities nationwide,” said Douglas J. Bystry, President and CEO of Clearinghouse CDFI.

Clearinghouse CDFI’s mission is to provide economic opportunities and improve the quality of life for lower-income individuals and communities through innovative and affordable financing that is unavailable in the conventional market. Since its founding in 1996, Clearinghouse CDFI has funded $2.7 billion in total loans for 2,732 community projects. These projects have created or retained more than 43,856 jobs and today are benefiting more than 5.1 million individuals. Clearinghouse CDFI loans have also created 13,548 affordable housing units since inception.

F&M’s investment highlights its long-lasting commitment to support community development and economic growth. “F&M Bank has worked with Clearinghouse CDFI for nearly 30 years due to our shared commitment to giving back to the communities we serve. We have confidence in the ability of their leadership to leverage our investment for the greatest impact,” said W. Henry Walker, CEO of F&M Bank.

In 2023, F&M Bank received an “Outstanding” rating as a result of its 2022 Community Reinvestment Act (CRA) examination, another indication of F&M’s commitment to support traditionally underserved communities.

About Farmers & Merchants Bank of Long Beach

Founded in Long Beach in 1907 by C.J. Walker, F&M Bank (OTCQX: FMBL) provides white-glove service to clients at 27 branches from San Clemente to Santa Barbara, as well as through Online and Mobile Banking platforms. The Bank offers commercial and small business banking, business loan programs, home loans, and a robust offering of consumer retail banking products, including checking, savings and youth accounts. F&M Bank is a California state-chartered bank with deposits insured by the Federal Deposit Insurance Corporation (Member FDIC) and an Equal Housing Lender. NMLS #537388. For more information about F&M, please visit the website, www.FMB.com.

About Clearinghouse Community Development Financial Institution (Clearinghouse CDFI)

Clearinghouse CDFI addresses unmet credit needs throughout the U.S. and in Indian Country through direct lending, equity investments, and financial assistance. Since 1996, Clearinghouse CDFI has helped bridge the gap between conventional lending standards and the needs of low-income, distressed, and communities of color. Clearinghouse CDFI is also a B Corp—a certification received from the nonprofit B Lab. B Corps are companies who meet rigorous standards of social and environmental performance, transparency, and accountability, and use business as a force for good. More information is available at www.ccdfi.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250210781862/en/

Media, Contact: Merilee Langdon

Senior Vice President

Director of Marketing

Farmers & Merchants Bank of Long Beach

(562) 344-2042

Merilee.Langdon@FMB.com

Investors, Contact: Roger Pondel

PondelWilkinson Inc.

(310) 279-5965

rpondel@pondel.com

Source: Farmers & Merchants Bank

FAQ

How much did F&M Bank (FMBL) invest in Clearinghouse CDFI in 2025?

F&M Bank invested $2 million in Clearinghouse CDFI as part of a recapitalization campaign that began in late 2024.

What is the total loan amount funded by Clearinghouse CDFI since its founding?

Since its founding in 1996, Clearinghouse CDFI has funded $2.7 billion in total loans for 2,732 community projects.

How many jobs has Clearinghouse CDFI helped create or retain through its projects?

Clearinghouse CDFI's projects have created or retained more than 43,856 jobs.

How many affordable housing units has Clearinghouse CDFI created since inception?

Clearinghouse CDFI has created 13,548 affordable housing units since its inception.

What rating did F&M Bank (FMBL) receive in its 2022 Community Reinvestment Act examination?

F&M Bank received an 'Outstanding' rating in its 2022 Community Reinvestment Act (CRA) examination.