Mechanics Bank Again Makes the List of Top Corporate Philanthropists
View as PDF
RICHMOND, CA, August 4, 2011—Mechanics Bank has once again made the San Francisco Business Times list of top corporate philanthropists. With $642,505 in reported contributions to qualified nonprofits in the Bay Area, Mechanics Bank outranked all but one other community bank. Its total cash contributions in 2010, $702,945 not counting the dollar value of the “sweat equity” donated to local nonprofits through employee volunteerism and sponsorships, helped it retain its place among the top 25 companies that donated more than 1% of income before taxes. In fact, Mechanics Bank donated a whopping 8.74% of its pretax income—more than any other organization among the top 25.
“Mechanics Bank has enjoyed the support of the Bay Area community for well over a century,” said Steve Buster, CEO. “We are honored to be able to give back to the nonprofits that make such a difference in the lives of millions here.”
Each year, Mechanics Bank commits the equivalent of $1,000 per employee to the support of nonprofit organizations. Beneficiaries last year included 328 Northern California organizations, the majority of which target low- to moderate-income families and individuals. They provide services and programs for children, adults and senior citizens, help homeless or hungry families and individuals, support arts and culture, health and education, and work to achieve affordable housing, wildlife and environmental preservation and services for people with disabilities.
As part of its Community Partners program, the bank also gives each employee the equivalent of one-and-a-half days of personal time for volunteer work. “Our employees donate thousands of hours a year serving on boards and committees,” said Buster. “In many ways, their contributions of time make a bigger difference than our financial support.”
About Mechanics Bank
For more than a century, Mechanics Bank has been committed to helping people build prosperous communities as a trusted financial partner, forging lasting relationships through teamwork, respect and integrity. The bank has consistently been recognized as one of the Top 100 Corporate Philanthropists in the Bay Area and one of the Top Ten Best Places to Work in 2010 and 2011. The $2.9 billion independent bank, headquartered in Richmond, California, offers personal banking, business banking, trust and wealth management services across Northern California. For more information, please visit www.mechanicsbank.com.
Mr. David Louis