About Us

Footer Page

OneWest Bank was founded as a regional bank in Southern California dedicated to customer service and a commitment to our community. As a division of CIT Bank, N.A., that commitment continues and we're proud to be Southern California's hometown bank.

expand +About OneWest Bank

About OneWest Bank

OneWest Bank was founded as a regional bank in Southern California dedicated to customer service and a commitment to our community. As a division of CIT Bank, N.A., that commitment continues and we're proud to be Southern California's hometown bank. Headquartered in Pasadena, our executive team is comprised of industry leading experts who reside in Southern California and understand the local market and economy. With a strong capital foundation and consistent focus on providing value to our customers, we offer a full suite of banking services customized to your specific individual or business needs.

Our retail branches, spanning from San Diego to Ventura County, offer a full array of deposit and lending solutions for consumers and small businesses. We also offer a suite of wealth management products and services including private banking, investment advisory and trust services. As local specialists in the real estate market, we offer custom home loans up to $15 million with competitive rates, low down-payment options and personalized service to guide you through the loan closing process.

Our Small Business Administration Lending specializes in SBA 7(a), SBA 504 and Owner-Occupied Commercial Real Estate loans to meet the needs of California’s growing small businesses. Our Deposit and Payment Solutions help your business improve cash flow management, reduce costs, improve productivity and protect against fraud.

OneWest Bank's mission is to help you achieve your financial goals One Person at a Time® and One Business at a Time®. If you are an existing customer, we look forward to expanding our relationship with you, and if you are a potential new customer, we would be pleased to welcome you to OneWest Bank.



About OneWest Bank

* Investment products are not FDIC insured, may lose value and there is no bank guarantee.
expand +Draft CIT Bank N.A. Community Benefits Plan

Draft CIT Bank N.A. Community Benefits Plan

February 2015

The Community Benefits Plan (the “Plan”) is subject to change based upon input from the OCC and the final Plan will be approved by the Enterprise Risk Committee of the CITBNA (or the “Bank”) and the CITBNA Board, or the appropriate committee, following the completion of the Transaction and annually thereafter.

Assessment Area

The anticipated Assessment Areas are as follows:

  • Los Angeles-Long Beach-Glendale, CA MD (full-scope)
  • Oxnard-Thousand Oaks-Ventura, CA MSA (limited-scope)
  • Riverside-San Bernardino-Ontario, CA MSA (limited-scope)
  • San Diego-Carlsbad, CA MSA (limited-scope)
  • Anaheim-Santa Ana-Irvine, CA MD (limited-scope)

Deposits owned by depositors that reside outside of the Assessment Areas, such as CIT Bank’s internet and brokered deposits, will be allocated to the Los Angeles-Long Beach-Glendale, CA MD assessment area.

Overall Target

  • The Bank will develop and implement an annual community benefits plan to meet the needs of its community with an objective of receiving an “Outstanding” CRA rating from the OCC
  • Target $5.0 billion over 4 years in total Community Activities1

Lending Targets

  • Target $3.8 billion over 4 years in CRA-Reportable Lending2
  • Meet or exceed peer benchmark targets for low and moderate income (“LMI”) tracts and borrowers
  • Achieve SBA Preferred Lender designation
  • Develop a small business loan and technical assistance referral program so that businesses unable to qualify for small business loans from the Bank can be referred seamlessly to local CDFIs and other nonprofit providers that may be able to make the loan and/or provide technical assistance in order to help borrowers better prepare themselves to qualify for conventional financing.
  • Maintain single point of contact to work with nonprofit groups representing homeowners seeking to secure loan modifications
  • For loans originated by CITBNA (including originations by predecessor OneWest, however excluding loans acquired by OneWest), CITBNA will develop a policy to prefer nonprofits in the sale of distressed loans and REO properties

In order to achieve its lending goals, CITBNA will expand its efforts across small business lending (including SBA 504 and 7(a) loans) and single family residential (“SFR”) mortgage loans. In addition, CITBNA will originate community development loans and small ticket leases. Historically OneWest’s primary CRA product was SFR mortgage lending, specifically refinancing borrowers in the mortgage servicing portfolio. As a result of OneWest’s exit of the third party mortgage servicing business in 2013, OneWest saw a significant decrease in its SFR lending activities. The Bank will seek to grow lending volume through introducing innovative and flexible lending products to the market and will explore products such as multifamily lending, lines of credit to non-profits for purposes of acquiring properties for LMI homebuyers and affordable mortgage loan products (e.g., Fannie Mae’s MyCommunityMortgage® loans). As in the past, key considerations will include the ability to recruit experienced subject matter experts, including both relationship officers and credit approval offers, for the contemplated product offering. All new product offerings will be subject to a new product approval process within CITBNA.

Investment Targets

  • 8% of Tier 1 Deployed Capital in CRA qualified investments
  • $5 million in annual donations to established non-profit organizations with demonstrated impact that support the provision of affordable housing, education, financial literacy, workforce development, health and human services to LMI individuals, programs for at risk youth and technical assistance programs for small business owners

The Bank will strive to broaden its CRA investment portfolio to include more complex investments that respond to community needs while maintaining the Bank’s risk and economic return tolerances. In addition, the Bank will continue to work with nonprofit organizations that provide basic services that provide community benefits. These services could include: affordable housing, education, financial literacy, workforce development, health and human services to LMI individuals, programs for at risk youth and technical assistance programs for small business owners.

Service Targets

  • 15% of total branches/ATMs out of the total population of branches/ATMs to be located in LMI tracts
  • ATMs will be a member of MoneyPass providing participants surcharge free access to the Bank’s ATMs (Note: EBT Cards are members of MoneyPass)
  • Reduce opening balance of Personal Checking account requirement from $100 to $25
  • Annual CRA volunteer service target of 2,100 hours

Other Community Goals & Targets

  • The Bank will establish a community advisory board who will support the Bank in developing and refining our community programs and annual community benefits plan
  • On an annual basis, the Bank will host a community day with community leaders in the Bank’s Assessment Areas to share information on its annual community activities and solicit input from the community on emerging and continuing areas of need
  • The Bank will seek to have representatives from the Latino, Asian American and Pacific Islander, and African-American community on its board of directors within 3 years
  • The Bank will set a target for a percentage of vendor spend with women-, minority- and service disabled veteran-owned businesses within 120 days of the consummation of the Bank Merger
  • Commit to join the Southern California Minority Supplier Development Council
  • Commit to actively recruit minorities, disabled, veterans as well as unemployed individuals through outreach in targeted job fairs and job boards

Contact:
Cindy Tran
Vice President and CRA Officer
cindy.tran@owb.com
1.626.535.5630


1 Community Activities is defined as the aggregate of CRA-Reportable Lending, investments (outstanding balance), donations and diversity vendor spend.

2 CRA-Reportable Lending is defined as lending within the Southern California assessment area that is reported to the Federal Financial Institutions Examination Council (“FFIEC”) that includes Home Mortgage, Small Loans to Businesses, Multifamily and Community Development Lending (outstanding balance).

Continue