WSBA Western Sierra Bancorp (MM)

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/

Copyright