Bank’s Commercial Lending Veteran, Beth Reizman, Also Joins Board
NOVATO, Calif.--(BUSINESS WIRE)--
Bank of Marin(NASDAQ:BMRC) has donated $100,000 to Marin
Workforce Housing Trust (“the Trust”) to help support affordable
housing in Marin County. The Trust is a unique public/private
partnership created to help developers construct, rehabilitate and
preserve affordable housing in Marin through low-interest revolving loan
funds. Every dollar that is contributed to the Trust will also be
matched by the Marin Community Foundation and the County of Marin,
thereby tripling the value of the Bank’s donation.
“We appreciate this significant contribution from Bank of Marin, which
along with matching funds from Marin Community Foundation and Marin
County, will allow the Trust to finance viable affordable workforce
housing,” said Linda Wagner, Executive Director of the Marin Workforce
Housing Trust. “By making housing more affordable, individuals who work
in the County can live closer to their jobs and become more engaged in
their communities.”
“Bank of Marin is committed to supporting local organizations that make
a positive difference in our community,” said Russell A. Colombo,
President and Chief Executive Officer of Bank of Marin. “We are proud to
partner with Marin Workforce Housing Trust and help support their goals
for providing affordable housing in Marin County.”
In addition to the donation, Bank of Marin has also announced that Beth
Reizman, a veteran commercial banker, has joined the board of the
Trust. Reizman leads the commercial lending department at Bank of Marin
and has nearly thirty years in the banking industry. She has been with
Bank of Marin for fourteen years. Reizman has previously served on
numerous non-profit boards, including Novato Human Needs Center, North
Bay Children’s Center, and Novato Sunrise Rotary.
About Marin Workforce Housing Trust
The Marin Workforce Housing Trust, a 501(c) (3), was created in 2004 to
expand workforce housing in Marin County. The Trust was spearheaded by a
group of concerned employers who formed a partnership with the Marin
Community Foundation and the County of Marin. Every dollar contributed
to the MWHT is matched by both the County and the Marin Community
Foundation. The Trust’s funds are targeted to fill critical gaps in
existing affordable housing finance, as “first-in” money to purchase
land, secure sites and fund predevelopment work and as “last-in” money
to close the funding gap for developments that otherwise would not be
able to be built. When construction is complete the loans are repaid and
reinvested in other projects. The Trust partners with Opportunity Fund
for underwriting, closing and servicing administration. Additional
information is available online at www.mwht.org
or by emailing: info@mwht.org.
About Bank of Marin Bancorp
Bank of Marin Bancorp's assets currently exceed $1 billion. Bank of
Marin, as the sole subsidiary of Bank of Marin Bancorp, is the largest
community bank in Marin County with fourteen branch offices in San
Francisco, Marin and Sonoma counties. The Bank's Administrative offices
are located in Novato, California. Bank of Marin offers business and
personal banking, private banking and wealth management services, with a
strong focus on supporting the local community.
Bank of Marin Bancorp is included in the Russell 2000 Small-Cap Index,
is recognized as a Top 200 Community Bank, ranked number 42 in the U.S.
by US Banker Magazine, and has received the highest five star rating
from Bauer Financial for more than ten years (www.bauerfinancial.com).
Celebrating its 20th anniversary in 2010, Bank of Marin has been
recognized as one of the "Best Places to Work in the Bay Area" and one
of the "Top Corporate Philanthropists" by the San Francisco Business
Times.
Source: Bank of Marin Bancorp
Contact:
Bank of Marin
Fabia Butler, 415-763-4529
fabiabutler@bankofmarin.com