Beneficial State Bank (Company)

Beneficial State Bank (formerly One PacificCoast Bank, FSB & OneCalifornia Bank), grew from the vision of Tom Steyer, Kat Taylor and the team they formed to create a triple bottom-line bank and a supportive nonprofit foundation of the same name. In December 2010, OneCalifornia Bank acquired ShoreBank Pacific and changed its name to One PacificCoast Bank. The merger greatly expanded the Bank's reach on the West Coast and enhanced its capacity to serve its mission. ShoreBank Pacific, a pioneer of environmentally sustainable banking, began operations in 1997 in Ilwaco, Washington, at the mouth of the Columbia River, and grew to establish offices in Portland and Seattle. Joining forces with OneCalifornia Bank produced an enlarged footprint covering a bio-regional territory some call the Salmon Nation and united the forces of social justice and ecological banking.

In 2013, Beneficial State Bancorp completed a stock purchase transaction of 90.1 percent of Albina Community Bank to provide critical capital for a legendary Portland institution, and in 2017, Beneficial State Bancorp purchased the remaining shares. In July 2014, One PacificCoast Bank rebranded with the help of fellow Certified B Corporation, Free Range, to develop an identity that reflects our vision, mission and commitment to our triple bottom-line, rather than merely the geographical region we serve. In June of 2016, Beneficial State Bank merged with Pan American Bank to serve communities in the Central Valley and Los Angeles markets of California. As of February 1, 2018, Beneficial State Bank and Albina Community Bank have merged, resulting in a combined bank of $929 million in assets, over 250 colleagues, and 17 locations throughout California, Oregon, and Washington.