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[Alhambra, CA – January 2, 2024] New Omni Bank proudly announces its continued recognition by BauerFinancial, Inc. as a distinguished 5-Star bank for 46 consecutive quarters. This esteemed rating, awarded based on the financial data as of September 30, 2023, reaffirms New Omni Bank’s commitment to financial strength and stability.
Notably, the bank has also achieved the coveted “Exceptional Performance Bank” status, a distinction reserved for institutions maintaining BauerFinancial, Inc.’s 5-Star Rating for a decade or longer. This accomplishment reflects New Omni Bank’s enduring position as one of the nation's strongest banks.
Mr. Chris Huang, Chairman and Chief Executive Officer, shared, “We’re honored to receive the prestigious 5-Star rating from BauerFinancial. Pairing the power of banking with highly attentive services, we’ve been striving to transform our clients’ aspirations into reality, thereby fostering positive impacts on the communities we serve.”
Ms. Karen Dorway, President of BauerFinancial, Inc., underscores that this rating affirms New Omni Bank’s solid financial foundation. While Bauer rates banks based on overall financial conditions, the community-driven spirit of New Omni Bank stands out in its dedication to local growth and prosperity.
BauerFinancial, Inc., an independent bank research firm, relied on financial data reported to federal regulators by banks and credit unions in its judgment and in rendering its opinion since 1983, including the determination of star ratings.
[Alhambra, CA – March 2023] BauerFinancial, Inc., the Nation’s Premier Bank Rating Firm, announced that New Omni Bank, N.A. once again earned its Top (5-Star) Rating for financial strength and stability. Having earned Bauer’s 5-Star rating for 40 (or more) consecutive quarters, New Omni Bank, N.A. has earned an even higher designation as an “Exceptional Performance Bank”. This marks New Omni Bank, N.A.’s 43rd consecutive 5-Star rating.
Bauer rates every federally-insured U.S. chartered bank with the same strict standards, and is pleased to report that New Omni Bank, N.A. continues to outperform its peers. What does it mean when we say, “like having a friend in the banking business?”, muses Karen Dorway, president of BauerFinancial. “It means loyalty and dedication. It’s a connection, one that you can rarely find in a big bank. But at New Omni Bank, N.A., it comes naturally. Not to mention”, she continues, “a local bank means local decisions, made by people just like you.”
Established in 1980, New Omni Bank, N.A. has been a dedicated banking partner for the community for 43 years. Making connections and supporting this community has been its hallmark since its inception. Being rated 5-Stars by Bauer, the best, most trusted and most convenient place to go for a validated, statistical review of your bank’s financial strength, is the fruit of its labor.
[Alhambra, CA – June 8, 2022] New Omni Bank, National Association (“New Omni Bank”) announced that it has received a capital investment of $39.913 million from the United States Department of the Treasury (“Treasury”) through the Emergency Capital Investment Program (“ECIP”).
Through ECIP, Treasury is directly investing up to $9 billion in capital in Community Development Financial Institutions and Minority Depository Institutions “to support the provision of loans, grants, and forbearances for small and minority businesses and consumers in low income communities.”
New Omni Bank, a minority depository institution, was one of 186 financial institutions and one of five California banks to be approved to receive funds through ECIP. As part of the application process, New Omni Bank demonstrated its commitment to community development services and its lending to low and moderate income communities, its prior industry awards for deposit health and safety, and its growth strategy. “We’ve been tasked with a marvelous mission to grow our footprint and innovate our lending and deposit products,” said New Omni Bank Chairman and President Chris Huang. “We’ve already started and will be unveiling new business products and treasury management services in the third quarter of 2022.”
New Omni Bank issued 39,913 shares of senior, perpetual, noncumulative preferred stock (the “Series B Preferred Stock”) for the investment. The Series B Preferred Stock has a maximum dividend rate of 2% with no dividend payable for the first 24 months.
“It is such an honor to have our New Omni Bank recognized among the top 200, number 29 to be exact, healthiest in America and an even greater honor to be ranked as the healthiest bank in California,” said Mr. Chris Huang, Chairman and CEO of New Omni Bank, “Being part of this list shows our commitment to excellence.”
DepositAccounts.com evaluates the financial health of every federally-insured bank and credit union in the United States once per quarter. To determine bank ranking and recognition, DepositAccounts.com grades each institution on a number of factors, including capitalization, deposit growth, and loan-to-reserve ratios.
“We believe it is important to give consumers a way to evaluate the financial health of their institutions,” said Ken Tumin, founder of DepositAccounts.com. “Our list empowers consumers to make informed decisions when selecting a financial institution.”
For a complete listing of the 2021 Top 200 Healthiest Banks in America, click here. Learn more about New Omni Bank, N.A. here.
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