Western Sierra Bancorp (NASDAQ:WSBA)
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Nehemiah Corporation of America Announces $100,000 Grant From
Western Sierra Bank
Funds to Further Expand Homeownership Education Services and Provide Increased
Support For Down Payment Assistance Program
SACRAMENTO, Calif., Feb. 2 /PRNewswire-FirstCall/ -- The Nehemiah Corporation
of America the leading private nonprofit downpayment assistance program in
America, today announced that Western Sierra Bank, a subsidiary of Western
Sierra Bancorp (NASDAQ:WSBA), will provide a $100,000 grant to help support
Nehemiah's homeownership education services-including the expansion of its
internet-based homeownership and financial education program, and the
development of Spanish language versions of its homeownership education and
downpayment gift assistance websites and information materials. Funds from
Western Sierra will help to better educate prospective home buyers and sellers
in the Sacramento Valley on the use of The Nehemiah Program(R)'s downpayment
gift assistance service for low-to moderate-income mortgage-qualified
homebuyers.
"The families we serve need access to both capital and education to become
successful lifelong homeowners. Our focus is not solely on the act of buying a
home, rather we want to transform the lives of the recipients of our
downpayment assistance gifts. Thanks to Western Sierra Bank's extraordinary
grant, we'll be able to greatly expand our work to teach low-to moderate-
income homebuyers about the financial responsibilities of homeownership while
we increase our work with home sellers to provide more downpayment gift
assistance to deserving families," said Scott Syphax, president and chief
executive officer of Nehemiah Corporation of America.
"Western Sierra Bank is pleased to support the work of the Nehemiah Corporation
of America as it helps to extend the economic and community development
benefits of homeownership to low- and moderate-income families. We're
especially grateful for the opportunity to support Nehemiah's development of
Spanish language translations of its homeownership education programs and
downpayment gift assistance information at a time when, according to the U.S.
Census, the 46% Hispanic homeownership rate lags far behind the 68% national
norm," noted Kirk N. Dowdell, President and CEO, Western Sierra Bank. "Our new
partnership with Nehemiah is indicative of our longtime commitment to
supporting our community's best nonprofit affordable housing organizations. In
turn, Western Sierra Bank's commitment to community investment is an outgrowth
of our mission to provide personalized financial services to the diverse array
of families and businesses in our region," stated Mr. Dowdell.
About Nehemiah Corporation of America
Founded in 1994, Nehemiah Corporation of America, http://www.nehemiahcorp.org/
, is a Sacramento-based nonprofit organization committed to empowering lives
and enriching communities nationwide. Nehemiah transforms lives by increasing
homeownership opportunities for diverse populations, while maintaining its
commitment to successful, responsible homeownership. Nehemiah transforms
communities by expanding its faith-based, charitable and community development
initiatives into underserved neighborhoods across America. In 1997, Nehemiah
launched its flagship program, The Nehemiah Program(R), to provide down payment
assistance to homebuyers. To date, Nehemiah has provided over $700 million in
down payment assistance gifts, resulting in $23 billion in real estate
transactions and has helped over 190,000 families and individuals achieve their
dream of homeownership. Committed to comprehensive community reinvestment,
Nehemiah has fostered partnerships with Habitat for Humanity, HomeAid America,
the U.S. Conference of Mayors and the National Association of Counties. In
addition to providing down payment gift assistance, Nehemiah has created other
programs that work to revitalize communities including: Nehemiah Community
Reinvestment Fund, Nehemiah Community Foundation and Nehemiah Urban Ministry
Initiatives.
About Western Sierra Bank
Western Sierra Bank, http://www.wsnb.com/, opened in January 1984 in Cameron
Park, California to respond to the needs of customers and to partner with the
communities it serves. Over the last twenty years, Western Sierra Bank has
opened twelve branches throughout Sacramento, El Dorado, and Placer counties
and assets have grown to over $550 million. Under one umbrella, Western Sierra
Bank offers cash management services, commercial loans and lines of credit,
commercial real estate loans, consumer lending, retail banking, and mortgage
lending. Investment services are available through Western Sierra Financial
Services, a subsidiary of Western Sierra Bank. Financial solutions that exceed
customer expectations are available at each location in the comfort of a
professional living room business environment. The mission today, just as it
was 20 years ago is service to their valued friends, customers and communities.
Western Sierra Bank is a wholly owned subsidiary of Western Sierra Bancorp,
which is comprised of Western Sierra Bank, Central California Bank, Auburn
Community Bank, and Lake Community and has assets of $1.2 billion. The company
operates in 33 locations
DATASOURCE: Western Sierra Bancorp; Nehemiah Corporation of America
CONTACT: Loren Riegelhaupt of Sloane & Company, +1-212-446-1871, for
Nehemiah; or Kirk Dowdell of Western Sierra Bank, +1-530-677-5600
Web site: http://www.nehemiahcorp.org/
Web site: http://www.westernsierrabancorp.com/