Beneficial State Bank

    OverviewSuggest Edit

    Beneficial State Bank is a social enterprise bank founded in 2007 with a triple-bottom-line focus of social justice, environmental resilience, and economic sustainability. Beneficial State is a state-chartered, federally regulated, for-profit banking organization whose economic interest is owned entirely by a non-profit foundation of the same name. Beneficial State is mandated to produce meaningful social justice and environmental benefits in an economically sustainable manner. In December 2010, it acquired ShoreBank Pacific. The merger greatly expanded the Bank’s reach on the West Coast and enhanced its capacity to serve its mission. ShoreBank Pacific, a pioneer of environmentally sustainable banking, served both Washington and Oregon. The joint forces produced an enlarged footprint covering a bio-regional territory some call the Salmon Nation and united the synergies of social justice and ecological banking. A few years later in October 2013, Beneficial State Bancorp completed a stock purchase transaction of 90% of Albina Community Bank, bringing a Portland-based community bank that has been investing in individuals, families, businesses, and local neighborhoods for over 20 years, into their family. In June of 2016, Beneficial State Bank merged with Pan American Bank. The combined 12-branch network now serves the California communities of Oakland, Santa Rosa, Sacramento, Los Angeles, Bakersfield, Fresno, Porterville, Visalia, Modesto and additionally Portland, Oregon, and Seattle, Washington. Beneficial State, a community development financial institution, has been a certified B Corporation since 2013 and has been honored as “Best for the World,” a designation reserved for the top 10% of all B Corps based on environmental, community and worker impact. Overall, Beneficial State is the #3 B Corp worldwide on the B Corp impact assessment.
    TypePrivate
    Founded2007
    HQOakland, US
    Websitebeneficialstatebank.com
    Employee Ratings3.5

    Latest Updates

    Employees (est.) (Oct 2020)153
    Cybersecurity ratingAMore

    Key People/Management at Beneficial State Bank

    Kat Taylor

    Kat Taylor

    Director
    Randell Leach

    Randell Leach

    Interim Chief Executive Officer
    Jann W. Wallach

    Jann W. Wallach

    Senior Vice President, Compliance and BSA
    Tyson Smith

    Tyson Smith

    Executive Vice President & Chief Technology Officer
    Monique Johnson

    Monique Johnson

    Senior Vice President, Director, Client and Treasury Management
    Steve Goodrich

    Steve Goodrich

    Executive Vice President & Head of Consumer & Microlending
    Show more

    Beneficial State Bank Office Locations

    Beneficial State Bank has an office in Oakland
    Oakland, US (HQ)
    1438 Webster St #100
    Show all (1)

    Beneficial State Bank Financials and Metrics

    Summary Metrics

    Founding Date

    2007

    Beneficial State Bank Cybersecurity Score

    Cybersecurity ratingPremium dataset

    A

    96/100

    SecurityScorecard logo

    Beneficial State Bank Online and Social Media Presence

    Embed Graph

    Beneficial State Bank News and Updates

    Beneficial State Bank is trying to build a better banking industry

    The big banks, says Beneficial State Bank founder Kat Taylor, should “exit the banking industry and become the hedge funds that they actually are.” Last year, the CEO of Bank of America made $26.5 million in total compensation. The CEO of Wells Fargo made $18.4 million. Kat Taylor, the CEO and cofou…

    LISTEN: How Beneficial State Bank aims to upend the financial giants

    On the latest episode of The Bottom Line podcast, CEO Kat Taylor lays out her strategy for proving that a bank can be profitable, pay its employees well, and pursue an agenda of economic justice and planetary health. Before the financial crisis in 2007, the nation’s largest banks reported returns on…

    Beneficial State Bank Frequently Asked Questions

    • When was Beneficial State Bank founded?

      Beneficial State Bank was founded in 2007.

    • Who are Beneficial State Bank key executives?

      Beneficial State Bank's key executives are Kat Taylor, Randell Leach and Jann W. Wallach.

    • How many employees does Beneficial State Bank have?

      Beneficial State Bank has 153 employees.

    • Who are Beneficial State Bank competitors?

      Competitors of Beneficial State Bank include United Community Financial, First of Long Island and Southern Missouri Bancorp.

    • Where is Beneficial State Bank headquarters?

      Beneficial State Bank headquarters is located at 1438 Webster St #100, Oakland.

    • Where are Beneficial State Bank offices?

      Beneficial State Bank has an office in Oakland.

    • How many offices does Beneficial State Bank have?

      Beneficial State Bank has 1 office.