for the san francisco office building see one california . for the los angeles office building see one california plaza . for the anti partition california political group see six californias . for other uses see 1 california . beneficial state bank type community development bank industry banking founded 2007 headquarters oakland california united states area served california oregon & washington key people kat taylor ceo cofounder products financial services total assets 300 million usd 2010 website beneficialstatebank.com beneficial state bank formerly one pacificcoast bank fsb & onecalifornia bank is an oakland california based community development bank . founded by tom steyer and his wife kat taylor in june 2007 1 beneficial state bank functions as a regulated financial institution but provides commercial banking services to underserved small and medium size businesses nonprofits affordable housing developers community facilities as well as families and individuals in the bay area . in august 2010 the bank signed an agreement to acquire shorebank pacific a washington based community bank . together the merged banks would have 300 million in combined assets and serve california oregon and washington . 2 in january 2013 the bank acquired 90 % of the stock of albina community bank based in portland or . contents 1 founders 2 mission and structure 2.1 beneficial state foundation 3 services and products 3.1 lending 4 shorebank pacific acquisition 5 rebranded to beneficial state bank 6 partnerships and initiatives 7 recognition 8 references 9 external sources founders edit tom steyer and his wife kat taylor founded onecalifornia bank and onecalifornia foundation providing 22.5 million as capital . mission and structure edit the bank maintains a triple bottom line seeking to be profitable promote environmental sustainability and expand economic opportunity in underserved communities . banking services are integrated with financial literacy technical assistance and business education provided by the onecalifornia foundation . 3 steyer and taylor founded the bank and foundation to ensure profits are reinvested in the community . steyer and taylor take no economic benefit or repayment from the bank . all of the non voting economic shares of the bank s holding company are held by the onecalifornia foundation . 100 % of the voting shares are held by taylor and steyer . onecalifornia foundation is overseen by an independent board . 4 beneficial state foundation edit the beneficial state foundation formerly known as onecalifornia foundation engages in charitable and educational activities that primarily support the goals of beneficial state bank . included are programs and initiatives to help eliminate financial discrimination encourage affordable housing alleviate economic distress stimulate community development and increase financial literacy . services and products edit beneficial state bank s services and products available to individuals include home loans ; home equity lines of credit ; home improvement loans ; personal lines of credit ; money market accounts ; and savings and checking accounts . business services and products include checking accounts ; money market accounts ; online cash management ; and commercial lending including lines of credit term loans commercial real estate loans and loans guaranteed by the small business association . beneficial state bank also provides banking products and services for non profit organizations including checking and savings accounts ; assistance bridging capital campaigns ; financing facilities and real estate ; money market accounts ; managing deposits and payments ; and cdars the certificate of deposit account registry service which allows qualified organizations to invest up to 50 million and be eligible for fdic insurance on every dollar lending edit beneficial state bank was founded to provide assistance to individuals in low wealth communities 5 including entrepreneurs and existing businesses . the bank s loans provided assistance to john bailey of volunteers of america bay area and also helped multiple nonprofit organizations and businesses with cash management services intended to increase administrative and operational efficiency . 6 shorebank pacific acquisition edit in august 2010 onecalifornia bank announced it will acquire shorebank pacific the ilwaco washington based community bank . shorebank pacific specializes in sustainable lending to the agriculture renewable energy and small business sectors and has offices in portland oregon and seattle washington . together the banks would have 300 million in combined assets . 7 8 rebranded to beneficial state bank edit in july 2014 one pacificcoast bank rebranded to become beneficial state bank . 9 10 this is the third name of the bank first onecalifornia bank then one pacificcoast bank and now beneficial state bank . partnerships and initiatives edit through its onecal community connects program onecalifornia bank and the onecalifornia foundation have formed partnerships with local bay area community based organizations including the chabot space & science center 11 and c.e.o. women . 12 recognition edit in 2010 the university of san francisco awarded beneficial state bank the usf california prize . the prize recognizes significant service in pursuit of the common good of society . 13 references edit innovation meets tradition in community development banking . oakland business review . may 2008 . bhatt sanjay 2010 08 23 . shorebank pacific bought by california bank . seattle times . retrieved 2010 08 23 . stuhldreher anne 2009 04 08 . traditional lending goes mainstream . san francisco chronicle . retrieved 2010 08 16 . carpenter edward 2010 08 05 . onecalifornia bank and foundation 2010 usf california prize winner . usf newsroom . archived from the original on 2012 09 30 . retrieved 2010 08 16 . burt cecily 2008 10 29 . organization ready to help small businesses . oakland tribune . oakland business review onecalifornia buys shorebank pacific . portland business journal . 2010 08 22 . retrieved 2010 08 23 . onecalifornia bank to acquire shorebank pacific and provide growth capital to extend beneficial banking from california to the pacific northwest . businesswire . 2010 08 21 . retrieved 2010 08 23 . our history beneficial state bank . www.onepacificcoastbank.com . retrieved 2016 09 06 . press release one pacificcoast bank is now beneficial state bank . beneficial state bank . 2014 07 14 . archived from the original on 2014 09 08 . retrieved 2016 09 07 . oakland business review p2 2009 donors & funders . archived from the original on 2010 12 13 . retrieved 2016 09 07 . usf newsroom p1 external sources edit beneficialstatebank.com beneficial state bank official website retrieved from https en.wikipedia.org w index.php title beneficial state bank & oldid 743721495 categories community bankingbanks based in californiabanks established in 2007companies based in oakland california2007 establishments in californiabenefit corporations navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages add links this page was last modified on 10 october 2016 at 21 48 . text is available under the creative commons attribution sharealike license ; 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