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LAKE FOREST, Calif., Jan. 16, 2020 /PRNewswire-PRWeb/ -- Clearinghouse Community Development Financial Institution (Clearinghouse CDFI) announced today a $500,000 Class A equity investment from First Choice Bank.
First Choice Bank is a community focused financial institution based in Cerritos, California. It recently received the highest available rating, "Outstanding," during its most recent Community Reinvestment Act examination by the Federal Reserve Bank of San Francisco. This is the bank’s first investment in Clearinghouse CDFI.
"We are pleased to welcome First Choice Bank—an institution that prioritizes its community development and CRA goals—as our newest investor," said Douglas J. Bystry, President and CEO of Clearinghouse CDFI. "We look forward to working together to deploy much needed capital into the California communities we serve."