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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.
We are proud to be recognized by The Findley Reports as a “Senior Premier Performance” Bank for 2021. Super Premier Performance is the industry benchmark’s highest designation. It considers a banks’ growth, income, net loan loss, and equity return. Congratulations to each member of our dedicated team on working together to earn this distinction!
Charlotte, N.C., August 11, 2021 — DepositAccounts.com, a subsidiary of LendingTree, has released its list of the 2021 Top 200 Healthiest Banks in America.
“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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