The Californer - BofA Directs Additional Million to Los Angeles Nonprofits for Evolving Fire Recovery Needs

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LOS ANGELES, July 7, 2025 ~ As Los Angeles marks six months since the devastating January wildfires, Bank of America continues to show its support for those impacted by the disaster. The financial institution has directed over $1 million in additional philanthropic funds to local nonprofits, providing resources for small businesses, families, and communities as they navigate the ongoing recovery process.

This latest round of giving brings Bank of America's total contributions towards fire-related recovery efforts to over $3.5 million. In addition to financial support, the bank has also assisted thousands of clients and hundreds of employees and their families with their individual recovery needs. Leading these efforts is Raul A. Anaya, President of Bank of America Business Banking and a native Angeleno who was personally chosen by CEO Brian Moynihan to spearhead the company's recovery initiatives.

"Having helped clients through disasters over many years, Bank of America has the expertise, capital and connections to help Los Angeles rebuild following this tragedy," said Anaya. "From our immediate initial response to the fires in January to pivoting as needs change over time, our aim is to help all Angelenos recover. We're doing this together with the region's incredible public, private and nonprofit sectors."

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One area that Bank of America has focused on is providing relief and support for small businesses affected by the wildfires. This includes directing $400,000 towards three local Community Development Financial Institutions (CDFIs) that offer technical coaching and low-cost microloans. The bank has also provided funding and assistance to chambers of commerce and other business support entities, as well as directly awarding grants to impacted small businesses.

In addition to supporting local businesses, Bank of America has also taken steps to rebuild its own presence in affected communities. Two financial centers in Altadena and Pacific Palisades were destroyed by the fires, but the bank quickly opened a temporary mobile center and has committed to rebuilding permanent financial centers in those areas. Furthermore, the bank utilized its expertise to successfully reunite over 2,000 safe deposit box clients with their possessions from the two destroyed locations, thanks to a team of nearly 100 vault and safe box experts.

Bank of America leaders have also been working closely with government officials and other community leaders to address various challenges faced by impacted homeowners and communities. This includes issues such as insurance challenges and rebuilding needs.

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For those seeking assistance, Bank of America has created a new webpage called "Helping Los Angeles Rebuild" which serves as a one-stop-shop for helpful information and resources.

Bank of America is a global leader in financial services, serving individual consumers, small and middle-market businesses, and large corporations. With approximately 69 million consumer and small business clients, the bank offers unmatched convenience through its network of 3,700 retail financial centers, 15,000 ATMs, and award-winning digital banking services. Additionally, Bank of America is a leader in wealth management, corporate and investment banking, and trading across various asset classes. The company also provides support to approximately 4 million small business households through innovative online products and services. Operating in over 35 countries worldwide, Bank of America Corporation stock is listed on the New York Stock Exchange (NYSE: BAC).

For more news from Bank of America, including dividend announcements and other important information, visit the company's newsroom or register for email alerts. Reporters may contact Colleen Haggerty at +1.213.621.7414 for further inquiries.

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