Bank of America Commits Over $3.5M to LA Wildfire Recovery, Including Aid for Small Businesses, Branch Rebuilding

Bank of America Corporation (NYSE:BAC) is one of the best US stocks to buy and hold in 2025. As Los Angeles marks 6 months since the onset of the January 2025 wildfires, Bank of America announced on July 7 an additional commitment of over $1 million in philanthropic capital to local nonprofits.

The latest round of grants brings Bank of America’s total fire-related contributions to more than $3.5 million, in addition to direct assistance provided to thousands of its clients and hundreds of employees and their families affected by the disaster. $400,000 from this aid has been directed to small businesses through 3 local Community Development Financial Institutions/CDFIs to provide technical coaching and low-cost microloans.

A professional banker providing consultation to a customer in the security of his office.

Bank of America itself was directly impacted by the wildfires, with 2 of its financial centers in Altadena and the Pacific Palisades being destroyed. In response, the bank quickly established a temporary mobile center and has committed to rebuilding new permanent financial centers in these communities.

Bank of America Corporation (NYSE:BAC) provides various financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide.

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