Torrey Pines Bank Announces $445,000 Donation to Support Southern California Communities Impacted by COVID-19
May 11, 2020
Part of $2 Million Contribution from Parent Company Western Alliance Bank
Torrey Pines Bank today announced it is committing $445,000 to help mitigate the impact of the COVID-19 global pandemic on local communities across Southern California and strengthen those communities as they work to emerge from the crisis.
Contributions in Southern California will help address shortages of personal protective equipment (PPE) for first responders and healthcare workers, in addition to providing support for patient and family care, social services and assistance to some of the most vulnerable in the communities Torrey Pines Bank serves.
These funds are part of an overall contribution of $2 million from Western Alliance Bancorporation (NYSE:WAL), the parent company of Torrey Pines Bank. This larger amount also includes support for organizations in Northern California, Arizona and Nevada.
“Working through the impacts of COVID-19 in Southern California will need support from all of us, and Torrey Pines Bank is glad to help effective organizations making a difference right now, as well as groups striving to achieve longer-term community resilience,” said John Maguire, Division CEO, Torrey Pines Bank.
In Southern California, funded organizations include:
SHARP Foundation COVID-19 Fund, established to help provide PPE, ventilators and other critical resources to front-line caregivers. The donation will be matched dollar-for-dollar by a generous gift from The Conrad Prebys Foundation.
UCLA Health COVID-19 Fund, supporting patient and family care, social services, PPE and other equipment for front-line medical professionals, ventilators and supportive services for healthcare workers.
“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.”
The bank’s $2 million commitment also supports longer-term efforts to strengthen communities and create resilience for low- and moderate-income families, including programs to prevent homelessness, provide continuum of care, and bolster affordable housing and economic development.
Torrey Pines Bank
Torrey Pines Bank, a division of Western Alliance Bank, Member FDIC, helps business clients realize their ambitions. Founded in 2003, Torrey Pines Bank offers a full spectrum of loan, deposit and treasury management capabilities, plus superior service. With 10 offices throughout San Diego, Los Angeles and Orange County, along with Western Alliance Bank’s powerful array of specialized financial services, the banking division is a valued resource for Southern California’s business, real estate, professional, municipal and nonprofit communities. Western Alliance Bank is the primary subsidiary of Phoenix-based Western Alliance Bancorporation, with more than $60 billion in assets. Western Alliance is #2 best-performing of the 50 largest public U.S. banks in the S&P Global Market Intelligence listing for 2021 and ranks high year after year on the Forbes list of “America’s Best Banks.”