Bank of America Announces Investments in 40 Private Funds Focused on Minority Entrepreneurs for Approximately $150 Million - Seite 2

Today the company also announced investments in two additional MDIs, bringing the total to 12:

• Broadway Financial Corporation*
• Carver Bancorp, Inc.
• Carver Financial Corporation
• CNB Bancorp, Inc. (parent of Commonwealth National Bank)
• CSB&T Bancorp, Inc. (parent company of Citizens Savings Bank and Trust)
• First Independence Corporation
• Liberty Financial Services, Inc.
• M&F Bancorp, Inc.
• MNB Ventures, Inc.*
• SCCB Financial Corp. (parent company of Optus Bank)
• Southern Bancorp, Inc.
• Unity National Bank of Houston, N.A.

*Denotes newly announced investment

These equity investments are in addition to approximately $100 million in deposits from Bank of America in MDIs. The company also operates a $1.6 billion CDFI portfolio with 255 partner CDFIs across all 50 states, providing access to capital to thousands of individuals and small businesses who do not qualify through traditional lenders.

Recent Bank of America announcements focused on racial equality, diversity and inclusion and economic opportunity include:

• Directed More Than $13 Million to Native American Communities Hardest Hit by the Coronavirus in 2020
• Joined CVS Health to Fund and Deliver Free Flu Vaccine Vouchers
• 21 Higher Education Institutions receive $1 Million Each as Part of $25 Million Jobs Initiative
• Ten Completed Equity Investments in Minority Depository Institutions and Community Development Financial Institution Banks
• $2 billion Equality Progress Sustainability Bond.
• Universal ESG Reporting; International Business Council of World Economic Forum.
• Top Global Bank on Fortune "Change the World" List.
• Increasing representation of diverse asset managers across the industry.
• Expanding support of Boys & Girls Clubs of America with $1 million grant to support educational programs.
• Committing $100,000 to Athena Alliance to support underrepresented women.
• Partnership with iHeartMedia to bring first-of-its-kind national audio news service to the Black community.
• Smithsonian announces “Race, Community and Our Shared Future” initiative, Bank of America commits $25 million.
• $1 Billion, four-year commitment to support economic opportunity initiatives.
• Committing $250 million in capital and $10 million in philanthropic grants to CDFIs.