Bridge Bank Announces $240,000 Donation to Support Northern California Communities Impacted by COVID-19
Bridge Bank today announced it is committing $240,000 to help mitigate the impact of the COVID-19 global pandemic on local communities across Northern California and strengthen those communities as they work to emerge from the crisis.
Significant funds from Bridge Bank’s contribution will be directed to Stanford Medical Center’s COVID-19 Clinical Care Fund, which will go toward increasing care capacity, creating a safer environment, and supporting healthcare providers and related staff to ensure they can effectively assist affected patients. Other monies within Bridge Bank’s $240,000 donation are earmarked for a variety of community support organizations in the Bay Area.
The Bridge Bank donation is part of an overall contribution of $2 million from Western Alliance Bancorporation (NYSE:WAL), the parent company of Bridge Bank, for organizations in California, Arizona and Nevada. The bank’s commitment includes longer-term efforts to strengthen communities and create opportunities for low- and moderate-income families, such as programs to prevent homelessness, provide continuum of care, and bolster affordable housing and economic development.
“The people of Bridge Bank care about our Bay Area communities, and we want to help support effective organizations that are making a difference right now, as well as longer-term efforts to build local resources and economic resilience,” said Dan Myers, Chief Executive Officer, Bridge Bank.
“Our communities face unprecedented health and economic challenges from the coronavirus,” said Kenneth Vecchione, President and Chief Executive Officer of Western Alliance Bank. “We are a people-first organization, and that we are able to help others – from firefighters and front-line healthcare workers to small businesses and hungry families who need support right now – is meaningful to all of us.”
Bridge Bank, a division of Western Alliance Bank, Member FDIC, helps business clients realize their ambitions. Founded in 2001 in Silicon Valley, Bridge Bank offers a better way to bank for small-market and middle-market businesses across many industries, as well as emerging technology companies and the private equity community. Geared to serving both venture-backed and non-venture-backed companies, Bridge Bank delivers a broad scope of financial solutions including capital, equipment and working capital credit facilities, venture debt, treasury management, asset-based lending, SBA and commercial real estate loans, ESOP finance and a full line of international products and services. Based in San Jose, Bridge Bank has 16 offices in major markets across the country along with Western Alliance Bank’s powerful array of specialized financial services. Western Alliance Bank is the primary subsidiary of Phoenix-based Western Alliance Bancorporation. One of the country’s top-performing banking companies, Western Alliance has ranked in the top 10 on the Forbes “Best Banks in America” list for five consecutive years, 2016-2020, and was named #1 best-performing of the 50 largest public U.S. banks for 2019 by S&P Global Market Intelligence.