BofA Awards $1 Million to Rebuild Pacific Palisades YMCA Destroyed in Wildfires

Bank of America (NYSE: BAC) announced a $1 million grant to the YMCA of Metropolitan Los Angeles to rebuild the Lowe Family YMCA in Pacific Palisades, destroyed in the Los Angeles wildfires.

Rhea-AI Summary

Bank of America (NYSE: BAC) announced a $1 million grant to the YMCA of Metropolitan Los Angeles to rebuild the Lowe Family YMCA in Pacific Palisades, destroyed in the Los Angeles wildfires. The gift is the first and largest corporate contribution to a $25 million capital campaign and moves the project toward a planned spring groundbreaking for two resilient campuses on the original Via de la Paz site and nearby Simon Meadow site. The new facilities will expand youth, senior, mental health and emergency-preparedness programming. The Community Room at the Via de la Paz club will be named for Bank of America.

Positive

• Bank of America provided a $1 million lead corporate grant
• Campaign progress toward $25 million goal increases likelihood of spring groundbreaking
• Plan to build two resilient campuses expands local services and programs

Negative

• Capital campaign still needs $24 million to reach its $25 million goal

Argus Jan 9 session

-0.59% close to close Open Argus

Details

News Market Reaction – BAC

On Jan 9, the day this news came out, BAC closed 0.59% below the previous close.

Data tracked by StockTitan Argus for the Jan 9 session.

Market Context

This announcement extends Bank of America’s wildfire-recovery efforts, adding a $1 million grant tow...

Analysis

This announcement extends Bank of America’s wildfire-recovery efforts, adding a $1 million grant toward the YMCA’s $25 million capital campaign and bringing total fire-related philanthropy to $4.5 million. It follows prior zero-interest capital support to CDFIs and underscores BAC’s broader community-focused strategy. In context of recent product launches, preferred dividend declarations, and an upcoming earnings release, observers may track how such CSR initiatives intersect with capital deployment, regulatory filings, and the stock’s position near its 52-week high.

Key Figures

YMCA grant: $1 million Capital campaign size: $25 million Fire recovery grants: $4.5 million +5 more

YMCA grant

$1 million

BofA grant to rebuild Lowe Family YMCA after LA wildfires

Capital campaign size

$25 million

YMCA capital campaign for dual-campus rebuild

Fire recovery grants

$4.5 million

Total BofA philanthropic contributions for fire recovery needs

Zero-interest capital

$10 million

Zero-interest capital to three CDFIs for business and housing needs

Consumer & small business clients

Nearly 70 million

Clients served in the United States

Retail financial centers

Approximately 3,600

U.S. retail financial centers

ATMs

Approximately 15,000

ATMs in Bank of America network

Verified digital users

Approximately 59 million

Digital banking users

Historical Context

5 past events · Latest: Jan 07

5 events

1. Jan 07

   Earnings call notice

   24h Move

   -2.8%

   Set date and time for Q4 2025 results and investor call.

2. Dec 22

   CSR and capital

   24h Move

   +1.1%

   Announced $10M zero‑interest loans and $3.5M grants for wildfire recovery.

3. Dec 16

   Preferred dividends

   24h Move

   -0.5%

   Declared regular cash dividends on multiple preferred stock series.

4. Dec 11

   AI product update

   24h Move

   +0.9%

   Highlighted AI CashPro Forecasting usage gains and efficiency benefits.

5. Dec 08

   Product launch

   24h Move

   -0.1%

   Launched enhanced digital workplace benefits platform for businesses.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

CDFIs

1 terms

CDFIs financial

"BofA recently announced $10 million in zero-interest capital to three CDFIs for ongoing"

CDFIs are Community Development Financial Institutions: specialized lenders and financial organizations that provide loans, investments, and financial services to under-served communities and small businesses that often cannot get traditional bank financing. They matter to investors because they can offer access to niche markets, mission-driven impact opportunities, and sometimes government-backed support or tax incentives, while carrying unique credit and liquidity risks compared with mainstream banks.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Commemorating One Year Since Onset of the LA Fires, BofA Grant Brings Record-Pace Capital Campaign Closer to Completion

PACIFIC PALISADES, Calif., Jan. 9, 2026 /PRNewswire/ -- In recognition of the one-year anniversary of the Los Angeles wildfires, Bank of America announced a $1 million grant to the YMCA of Metropolitan Los Angeles to help rebuild the Lowe Family YMCA serving the Palisades-Malibu community that was destroyed by the fires. The BofA grant is the first and largest corporate award to date for the YMCA's $25 million capital campaign that was launched over the summer. The project is expected to break ground this spring, bringing new facilities and additional programs for working families and seniors in the community.

"As we mark the first anniversary of the devastating fires, we also celebrate the incredible progress of the YMCA's efforts to rebuild its destroyed Via de la Paz site and a nearby campus," said Raul Anaya, Bank of America president for Greater Los Angeles. "The wildfires destroyed so much – thousands of homes, businesses and communities – but it never destroyed L.A.'s spirit. As a longtime supporter of the YMCA, we're proud to help bring this space back to life for so many residents, and encourage other donors to help bring this important effort over the finish line." 

"We are deeply grateful to Bank of America for their generosity and for being our first corporate donor to this campaign," said Victor Dominguez, President and CEO of the YMCA of Metropolitan Los Angeles. "Our corporate partners are critical to engaging our full communities in the rebuilding process. As the Center for Community Well-Being with dozens of locations across the L.A. region, we activated on day one of the fires to support our communities. We will continue to help Palisades rebuild not just the buildings, but the community and connections that make it so special."

The Lowe Family YMCA has served Palisades and Malibu area children, families and seniors for over 60 years. In response to the widespread displacement and trauma caused by the fires, the YMCA of Metropolitan Los Angeles quickly mobilized through nearby centers and partner sites to deliver emergency childcare, case management, and trauma-informed care to thousands of residents.

These efforts continue today, but the long-term recovery of the community depends on restoring a permanent YMCA presence in the area. The YMCA of Metropolitan Los Angeles has committed to replace the burned site with two new resilient campuses - one on the original Via de la Paz site and one at the nearby Simon Meadow site. The dual campus will expand programming around youth development, mental health services, emergency preparedness and multigenerational engagement.

In recognition of Bank of America's leading corporate donation, the new Community Room at the Palisades Via De La Paz club will be named for Bank of America.

Having extensive experience supporting clients and communities through various disasters, Bank of America's expertise, capital and connections continues to support LA's next chapter. Today's $1 million grant brings its philanthropic contributions to $4.5 million for fire recovery needs. In addition, BofA recently announced $10 million in zero-interest capital to three CDFIs for ongoing business and housing needs; and a new Rebuild Solution to help qualifying mortgage clients rebuild their homes. The bank will also rebuild its destroyed financial centers in Pacific Palisades and Altadena; and continues providing recovery-related thought leadership and employee volunteerism to local nonprofits.

For more information on Bank of America's relief efforts, go to BankofAmerica.com/LARebuild. To donate towards the Lowe Family YMCA capital campaign, go to YMCALA.org/give/.

Bank of America
Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving nearly 70 million consumer and small business clients with approximately 3,600 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 59 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

YMCA of Metropolitan Los Angeles
As the Center for Community Well-Being the LA Y is committed to building stronger communities by providing equitable programs and services to empower all Angelenos. We are focused on fighting food insecurity, providing equity in education, making sure every child has the opportunity to experience the joy of sports, ensuring kids and teens have a safe place to grow, learn and live a healthy lifestyle. The LA Y's health and wellness initiatives offer medical and mental health resources to ensure everyone has access to basic health needs. Our mission is to provide services and resources that contribute to the well-being of our community. Visit ymcaLA.org for more information. More on Facebook,or  Instagram.

Reporters may contact

Colleen Haggerty, Bank of America
Phone: 1.213.621.7414
colleen.haggerty@bofa.com

Sarah Angel, YMCA PR
Phone: 1.818.693.0967 
sarah@joancollaborative.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/bofa-awards-1-million-to-rebuild-pacific-palisades-ymca-destroyed-in-wildfires-302656971.html

SOURCE Bank of America Corporation

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Bank of America (BAC) announce on January 9, 2026 regarding the Pacific Palisades YMCA?

Bank of America announced a $1 million grant to the YMCA of Metropolitan Los Angeles to rebuild the Lowe Family YMCA destroyed in the LA wildfires.

How does the $1 million BAC grant affect the YMCA of Metropolitan Los Angeles capital campaign?

The grant is the first and largest corporate donation to the YMCA's $25 million capital campaign and advances plans toward a spring groundbreaking.

What will be built to replace the Lowe Family YMCA in Pacific Palisades?

The YMCA plans to replace the burned site with two resilient campuses: one at the original Via de la Paz site and one at Simon Meadow, expanding programming for youth and seniors.

Will Bank of America receive recognition for its donation to the Pacific Palisades YMCA?

Yes, the new Community Room at the Palisades Via de la Paz club will be named for Bank of America in recognition of its donation.

How can investors or donors learn more or contribute to the YMCA capital campaign mentioned by BAC (NYSE: BAC)?

The announcement directs interested donors to YMCALA.org/give/ for contributions and notes Bank of America's broader LA rebuild efforts online.