Federal Home Loan Bank Of San Francisco

Empowering Black Homeownership Program matched funds the Bank’s member financial institutions donated to housing counseling organizations serving communities of color

SAN FRANCISCO, Oct. 12, 2022 (GLOBE NEWSWIRE) — The Federal Home Loan Bank of San Francisco announced that, in partnership with participating member financial institutions, more than $2.2 million has been donated to HUD-approved housing counseling agencies through the Bank’s Empowering Black Homeownership matching grant program. This funding has been distributed to 22 HUD-approved housing counseling agencies so that they can better serve homebuyers and homeowners in communities of color.

“The Empowering Black Homeownership matching grant program is a key component of FHLBank San Francisco’s commitment to working to narrow the Black homeownership gap and reduce racial wealth disparities,” said Teresa Bryce Bazemore, president and CEO of FHLBank San Francisco. “We are grateful for the member financial institutions that have partnered with us to advance racial equity by providing financial support for housing counseling agencies directly serving populations that have been historically disadvantaged when it comes to building wealth through homeownership.”

The Empowering Black Homeownership grant program, which launched in March 2022, made $1 million available for the Bank’s member financial institutions to request dollar-for-dollar matching grants of up to $125,000. FHLBank San Francisco is grateful to each of the following Bank members for delivering generous donations along with our matching grant funds to 22 local housing counseling agencies for HUD-eligible activities, which include capacity building, operations, and pre-and post-purchase homeownership counseling .

Story continues

Several FHLBank San Francisco member institutions shared their thoughts on the impact that FHLBank San Francisco’s Empowering Black Homeownership matching grant program will have on homebuyers and homeowners of color in communities where they do business:

“Thank you to our partners at FHLBank San Francisco for making this important grant matching program available via its member banks,” said Cheryl Ryman, Farmers & Merchants Bank vice president, community reinvestment act officer. “We applaud Neighborhood Housing Services of Los Angeles, NeighborWorks OC, and Affordable Housing Clearinghouse for the valuable work they do in our community, and we are grateful for the opportunity to assist in achieving their mission.”

“City National Bank is proud to support Neighborhood Housing Services of Los Angeles County and its mission of helping more families realize the American dream of homeownership,” said Sal Mendoza, City National Bank senior vice president, community reinvestment act manager, “We want to also thank FHLBank San Francisco for matching our grant and helping us make a difference in the communities where we live and work.”

“The racial homeownership gap is persistent and pervasive in the Bay Area, so we thank FHLBank San Francisco for making this funding available to partners doing critical work to make homeownership more attainable for Black families,” said Bobbie Salgado, Silicon Valley Bank’s senior director, community reinvestment act and community affairs manager. “We are proud to work with FHLBank San Francisco and our local housing services partners to put these funds to work in our communities.”

More information on FHLBank San Francisco’s Empowering Black Homeownership matching grant program and the Bank’s other Community Programs, is available at fhlbsf.com.

About F&M Bank
Founded in Long Beach in 1907 by CJ Walker, F&M Bank provides white-glove service to clients at 25 branches from San Clemente to Santa Barbara, as well as through Online and Mobile Banking platforms. The Bank offers commercial and small business banking, business loan programs, home loans, and a robust offering of consumer retail banking products, including checking, savings and youth accounts. F&M Bank is a California state-chartered bank with deposits insured by the Federal Deposit Insurance Corporation (Member FDIC) and an Equal Housing Lender. NMLS #537388. For more information about F&M, please visit the website, www.FMB.com.

About City National Bank
With $91.2 billion in assets, City National Bank provides banking, investment and trust services through 68 branches, including 22 full-service regional centers, in Southern California, the San Francisco Bay Area, Nevada, New York City, Nashville, Atlanta, Washington, D.C. and Miami*. In addition, the company and its investment affiliates manage or administer $83.0 billion in client investment assets.

City National is a subsidiary of Royal Bank of Canada (RBC), one of the world’s leading diversified financial services companies. RBC serves more than 17 million personal, business, public sector and institutional clients through offices in Canada, the United States and 27 other countries. For more information about City National, visit the company’s website at cnb.com.

*City National Bank does business in Miami and the state of Florida as CN Bank.

About Silicon Valley Bank
Silicon Valley Bank, the bank of the world’s most innovative companies and investors, provides commercial banking services, expertise and insights into the technology, life science and healthcare, private equity, venture capital and premium wine industries. Silicon Valley Bank operates in centers of innovation around the world and is one of SVB’s core businesses with SVB Capital, SVB Private and SVB Securities. With global commercial banking services, Silicon Valley Bank helps address the unique needs of its dynamic, fast-growing, innovative clients. Learn more at www.svb.com.

About the Federal Home Loan Bank of San Francisco
The Federal Home Loan Bank of San Francisco is a member-driven cooperative helping local lenders in Arizona, California, and Nevada build strong communities, create opportunity, and change lives for the better. The tools and resources we provide to our member financial institutions—commercial banks, credit unions, industrial loan companies, savings institutions, insurance companies, and community development financial institutions—foster homeownership, expand access to quality housing, seed or sustain small businesses, and revitalize whole neighborhoods. Together with our members and other partners, we are making the communities we serve more vibrant, equitable, and resilient. Learn more at www.fhlbsf.com.

CONTACT: Media Contact: Mary Long Senior Director, Marketing Communications longm@fhlbsf.com 415.616.2556

The post FHLBank San Francisco Matching Grant Program Delivers Extra Than $2 Million to Assist Slender the Black Homeownership Hole appeared first on Los Gatos News And Events.

Fair or not, Deshaun Watson’s allegations will have an impact on the San Francisco 49ers’ interest … [+] in the QB. (Photo by Carmen Mandato / Getty Images)

Getty Images

The San Francisco 49ers entered the NFL free agency phase this week, with a clear need for quarterback and questions related to reigning starter Jimmy Garoppolo.

After the first few days of free hand, these questions have come no closer to being answered. Options are dwindling and a potentially explosive off-field situation around the Houston Texans’ Deshaun Watson trading destination is of no help.

Meanwhile, the 49ers invited former Super Bowl winner Joe Flacco to visit this week. Chances are he’ll be cheaply signed to be Garoppolo’s back. That comes after San Francisco missed out on free agent targets like Mitchell Trubisky and Andy Dalton.

Going forward, it really seems like San Francisco’s options to be the first week starter next season are due to Garoppolo or a potential unnamed first-round selection in the 2021 NFL Draft.

MORE FROM FORBESReview of an eventful day 1 at the NFL Free Agency for the San Francisco 49ersBy Vincent Frank

Deshaun Watson’s assault allegations make things difficult

It is now known that several women have come forward to accuse the reigning NFL champion of sexual assault. Houston attorney Tony Buzbee has already filed multiple lawsuits on behalf of his clients, stating that he has nine women ready to come forward.

The NFL sent a letter to Mr Buzbee indicating that the league is launching an investigation into the matter under the guise of a personal code of conduct.

None of this means that 25-year-old Watson is guilty of a crime. Criminal charges have to be filed against him. There’s no telling whether a Texas criminal investigation is even in sight.

The NFL’s decision to investigate this matter changed the dynamic a bit. Under the leadership of Commissioner Roger Goodell and Co., the league has historically dropped the ball when it comes to similar off-field situations. They had to investigate as soon as the allegations became public.

Without going into the details or going into the content of the allegations, one thing has become clear. It will be difficult for any team to act on behalf of Deshaun Watson as matters relating to the NFL investigation are still open and further clarity on the allegations is lacking.

Put simply, Watson is less likely to be treated now than it was a week ago. Although the quarterback wants to play in San Francisco and the 49ers are obviously interested, he will be out of red and gold shortly.

The San Francisco 49ers always wanted to upgrade through Jimmy Garoppolo

San Francisco 49ers QB Jimmy Garoppolo could be their option by default. (Photo by Abbie Parr / Getty … [+] Images)

Getty Images

General Manager John Lynch and Co. can publicly tell us what they want. They believe that if Jimmy Garoppolo is healthy, he will be the first week starter. Reports also appeared to suggest that the 49ers would only leave Garoppolo if they acquired Watson. Now that this is unlikely in the short term, the quarterback’s job is safe. Right?

Well, not that fast. It is evident that San Francisco did not see Carson Wentz as an upgrade over Garoppolo before being transferred to the Indianapolis Colts from the Philadelphia Eagles. Hence the team’s lack of interest.

The same cannot be said of former Detroit Lions caller Matthew Stafford before he was transferred to division rival Los Angeles Rams. San Francisco was in Stafford. It made a trade offer.

Unfortunately, nothing materialized on that end after Los Angeles offered a starting caliber quarterback in Jared Goff and two picks for the first round to land Stafford. It’s an offer the 49ers just couldn’t keep up with.

A few weeks later, the quarterback’s 49ers are in a less than stellar position. Garoppolo returns after missing half of the games in San Francisco due to an injury for the past three seasons. The 29-year-old quarterback is expected to pay $ 26.4 million against the cop in 2021 – which puts the 49ers in an unenviable financial position.

The San Francisco 49ers make plans in the free agency clear

The 49ers’ interest in Joe Flacco is telling. (Photo by Sean M. Haffey / Getty Images)

Getty Images

As options continue to dwindle, the 49ers have shown their hand. With a keen interest in Stafford and ignoring Wentz’s availability, it is clear that the only thing that will end the Garoppolo era in San Francisco will be some kind of blockbuster deal.

No, that doesn’t include the takeover of Sam Darnold as part of a deal with the New York Jets. The former number 3 would be tricked into competing with Garoppolo rather than replacing the reigning 49ers starter.

John Lynch and Co. are apparently against the idea of ​​a quarterback competition involving Garoppolo during training camp. This is why the 49ers are interested in Flacco, despite not making strong games for the Trubisky and Dalton mentioned above.

These two players would likely have been in a competition with Garoppolo. Obviously, Flacco would simply be used as a veteran backup option. For some reason, San Francisco’s brass believes a Garoppolo-run quarterback competition would have a negative impact.

The 2021 NFL Draft becomes an option for the San Francisco 49ers

BYU QB Zach Wilson will be an option for the San Francisco 49ers in the 2021 NFL Draft. (Photo of … [+] Mark Brown / Getty Images)

Getty Images

San Francisco, a team that still believes their Super Bowl window is wide open, made win-now moves in the early days of the NFL Free Agency.

This included the re-signing of the left tackle against Trent Williams for the largest contract in league history for an offensive lineman. It also included signing a three-year contract for Pro Bowl Center Alex Mack, while other deals were structured to get minimal hits against the NFL’s 2021 salary cap.

All of these steps were under the guise of competition in 2021. In fact, Williams and Mack together will cost less than $ 12 million against the cap.

So why would the team turn around and either trade in for a quarterback in the 2021 NFL Draft or pick a number 12 overall? It doesn’t seem intuitive if we don’t focus on it from a purely financial perspective.

I mentioned above that Garoppolo had a cap hit of $ 26.4 million in 2021. San Francisco can get off the cap by trading or posting, saving $ 23.6 million over that cap.

A rookie quarterback would then step in as a likely first week starter and get a lot cheaper in the process.

This would allow the 49ers to make win-now moves when a second tier of free agents hits the open market based on the 2021 NFL draft. With the re-signing of Williams and the acquisition of Mack to bolster its offensive line, San Francisco could actually lean in that direction.

The problem here is that rookie quarterbacks rarely start in competing teams. Given Kyle Shanahan’s complex system in San Francisco, this is magnified even further.

It’s also important to note that any Joe Flacco signing would pretty much create a full quarterback space in San Francisco with Garoppolo and Josh Rosen as holdovers.

MORE FROM FORBESAnalysis of the San Francisco 49ers’ quarterback options for the 2021 NFL seasonBy Vincent Frank

Heck, there’s a chance (as slim as it may be) that Flacco will then take over as a hypothetical bridge quarterback with an unnamed first-round pick learning behind him in 2021. Who reading this has confidence that they can be that 911 while leading San Francisco to the Super Bowl competition? I didn’t think so.

Even then, there are a number of fascinating scenarios for San Francisco in the quarterback position in next month’s NFL draft.

For BYU’s Zach Wilson, the ideal scenario would be to close a blockbuster deal with the New York Jets in second place overall. That hypothetical deal would involve New York’s brass coming to the unlikely conclusion that Sam Darnold is the man for the job.

Outside of Wilson, San Francisco could potentially trade up to the bottom half of the top 10 against someone like Justin Fields, of Ohio, or Trey Lance, of North Dakota. Both are talented. But they are also seen as projects. There’s little reason to believe they can be day one starters. The same goes for the reigning Heisman finalist Mac Jones from Alabama, who could possibly be had in the 12th election.

What does it all mean? It’s the detour to say that either Jimmy Garoppolo or Zach Wilson will be the starting quarterback for the 49ers when week 1 of the 2021 NFL season comes up.

Unless, of course, Deshaun Watson’s situation takes a dramatic turn in about six weeks before the 2021 NFL draft.

The post Deshaun Watson Allegations Slim Down San Francisco 49ers Quarterback Choices appeared first on Los Gatos News And Events.