Bank of America Monday announced an additional $1 million in philanthropic funding to Los Angeles nonprofits for wildfire recovery efforts, bringing its total fire-related contributions to over $3.5 million.
The funding supports various recovery initiatives, including small business reopening, legal assistance, insurance navigation and health services, according to the bank.
BofA also said it is rebuilding two financial centers in Altadena and Pacific Palisades that were destroyed by fires, and has successfully helped over 2,000 safe deposit box clients recover their possessions from the destroyed locations.
“Having helped clients through disasters over many years, Bank of America has the expertise, capital and connections to help Los Angeles rebuild following this tragedy,” BofA Business Banking president Raul A. Anaya said in a statement. “From our immediate initial response to the fires in January to pivoting as needs change over time, our aim is to help all Angelenos recover. We’re doing this together with the region’s incredible public, private and nonprofit sectors.”
Anaya is an L.A. native who was tapped by BofA chief executive Brian Moynihan to focus full time on leading the company’s recovery efforts, the bank said.