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.
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.
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.
The anticipated Assessment Areas are as follows:
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.
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.
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.
Other Community Goals & Targets
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).