Neighborhood National Bank (NNB) was founded ten years ago as the country’s first nationally chartered community development bank. It was also certified as a Community Development Financial Institution (CDFI) by the U. S. Treasury. The certification requires that NNB maintain at least 60% of its portfolio in loans to organizations and individuals in Low and Moderate Income census tracts. The FDIC has designated NNB as a Minority-Owned Bank. Additionally, the banks mission states an ongoing lending commitment to the inner-city of San Diego, minority- and women-owned businesses, and affordable housing. The bank’s three retail offices are located in the southeastern quadrant of San Diego (32nd St and National Ave), National City (Sweetwater Road and 805), and Spring Valley (Campo Road and Hwy 94).

NNB is capitalized with investments from Banks, Insurance Companies, other institutions and individuals supportive of its community development mission and committed to the goal of being a profitable and self-sustaining organization. NNB became consistently profitable during its third year of operations and has now grown to approximately $100 million in asset size. The fact that we have maintained an Outstanding CRA rating throughout this period of time is an equally important point of pride.

NNB is a wholly-owned subsidiary of Neighborhood Bancorp (NB) which is also a certified CDFI. NB was one of only three banks across the country to receive a first-round New Markets Tax Credit allocation by the U.S. Treasury. NB’s nonprofit affiliate is Neighborhood Opportunities Corporation (NOC) and its primary function is to provide financial literacy.

Unlike traditional banks located in middle- and upper-income communities with an excess of discretionary income and wealth, NNB has maintained considerable deposit support from socially responsible organizations and individuals which provides for the lending needs of the underserved communities. Also unlike most traditional banks, NNB is headquartered in San Diego and almost its entire loan portfolio is dedicated to San Diego interests.