The ADS Foundation Deposits $5 Million into Adelphi Bank

Rhea-AI Summary

Advanced Drainage Systems (NYSE: WMS) Foundation announced a $5 million deposit into Adelphi Bank, a Black-owned financial institution established in January 2023. Adelphi Bank, the first Black-owned bank established in the US since 2000, is one of only 23 Black-owned banks nationwide and the only one in Ohio. Located in the King-Lincoln Bronzeville community, the bank focuses on uplifting central Ohio's communities of color through financial access. The funds will be reinvested in the community through loans, financial services, and support for small businesses, particularly minority- and women-owned enterprises.

Positive

• Strategic community investment that aligns with company's sustainability mission
• $5 million deposit demonstrates financial strength and ability to support community initiatives

Negative

• None.

Insights

Financial Analyst

The $5 million deposit by ADS Foundation into Adelphi Bank represents a strategic ESG (Environmental, Social and Governance) initiative that, while commendable from a social responsibility perspective, has minimal direct financial impact on Advanced Drainage Systems (WMS) given its $10.4 billion market cap. The deposit is structured as a financial transaction rather than a charitable donation, meaning the funds remain as an asset on the foundation's balance sheet while supporting Adelphi Bank's lending capacity.

This move aligns with growing investor focus on corporate social responsibility and could potentially enhance WMS's ESG ratings, which increasingly influence institutional investment decisions. However, the financial materiality is , representing less than 0.05% of WMS's market value. The strategic value lies more in strengthening community relationships and brand reputation rather than direct financial returns.

HILLIARD, Ohio--(BUSINESS WIRE)-- The ADS Foundation today announced a $5 million deposit into Adelphi Bank, a Black-owned financial institution with a deep commitment to serving the community. The ADS Foundation is funded primarily by Advanced Drainage Systems, Inc. (NYSE: WMS), a leading provider of innovative water management solutions in the stormwater and onsite septic wastewater industries and one of the largest plastic recyclers in North America.

Adelphi Bank and ADS executives gather to celebrate ADS Foundation $5M donation to the bank. From left to right: Kevin Talley, EVP and Chief Administrative Officer at ADS and President of the ADS Foundation; Margaret Finley, Head of Culture & Engagement and Corporate Affairs at ADS; Jordan Miller, co-founder and CEO of Adelphi Bank; Kevin Boyce, co-founder and Vice Chair of Adelphi Bank; Scott Barbour, President and CEO at ADS. (Photo: Business Wire)

Adelphi Bank is the first Black-owned bank established in the United States since 2000. When it was founded in January 2023, it was the only Black-owned bank in Ohio and, according to the FDIC, is one of just 23 Black-owned banks in the country.

From its location in the King-Lincoln Bronzeville community to the root of its name, their focus is to uplift central Ohio’s communities of color through access. The African American community in Columbus has a rich history in faith, the arts, sports, and politics, yet many may be unaware of the community's history in finance.

This partnership aligns with the ADS Foundation’s mission to create resilient communities with equitable access to innovative and impactful programs that support recycling, education, mental health, housing, and water.

“At ADS, we believe that investing in the communities we serve is key to our mission of sustainability and empowerment,” said Kevin Talley, President of the ADS Foundation. “Our collaboration with Adelphi Bank is an extension of our dedication to supporting local businesses, creating jobs, and fostering economic equality.”

Adelphi Bank shares in this mission and is dedicated to reinvesting these funds back into the community through loans, financial services, and support for small businesses, with a particular focus on those that are minority- and women-owned.

Together, the ADS Foundation and Adelphi Bank are proud to make a lasting, positive impact and to drive meaningful change in the communities we are part of.

About the ADS Foundation

The ADS Foundation seeks to improve quality of life by building resilient and sustainable communities that inspire social equity in recycling, education, mental health, housing, and water. Established by Advanced Drainage Systems, Inc. in 2020, the ADS Foundation is committed to partnering with organizations that improve availably and access in these five areas. To learn more about the ADS Foundation, go to www.adspipe.com/ads-foundation.

About Advanced Drainage Systems, Inc.

Advanced Drainage Systems, Inc. is a leading manufacturer of innovative stormwater and onsite septic wastewater solutions that manages the world’s most precious resource: water. ADS and its subsidiary, Infiltrator Water Technologies, provide superior stormwater drainage and onsite septic wastewater products used in a wide variety of markets and applications including commercial, residential, infrastructure and agriculture, while delivering unparalleled customer service. ADS manages the industry’s largest company-owned fleet, an expansive sales team, and a vast manufacturing network of approximately 70 manufacturing plants and 40 distribution centers. The company is one of the largest plastic recycling companies in North America, ensuring over half a billion pounds of plastic is kept out of landfills every year. Founded in 1966, ADS’ water management solutions are designed to last for decades. To learn more, visit the company’s website at www.adspipe.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241203983605/en/

ADS Foundation Contact:

Kevin Talley

President of ADS Foundation

Phone: (614) 658-0166

kevin.talley@adspipe.com



Advanced Drainage Systems Contact:

Margaret Finley

Director of Culture and Engagement and Corporate Affairs

Phone: (614) 570-6304

Margaret.Finley@adspipe.com

Source: Advanced Drainage Systems, Inc.

FAQ

How much did Advanced Drainage Systems (WMS) Foundation deposit in Adelphi Bank?

The ADS Foundation deposited $5 million into Adelphi Bank.

When was Adelphi Bank, supported by Advanced Drainage Systems (WMS), established?

Adelphi Bank was established in January 2023, being the first Black-owned bank established in the United States since 2000.

What will Adelphi Bank do with the $5 million deposit from Advanced Drainage Systems (WMS)?

Adelphi Bank will reinvest the funds into the community through loans, financial services, and support for small businesses, particularly minority- and women-owned enterprises.