LOCAL NEWS:

Local Bank Makes $1 Million Donation to Baltimore Community Foundation

Source: Suburban Federal Savings Bank

The gift is designed to encourage home ownership among those with low and moderate incomes.
CROFTON, MD, October 11, 2004—In honor of the merger between Suburban Federal Savings Bank and Westview Savings Bank, Suburban Federal is making a contribution of $1 million to the Westview Savings Bank Fund at the Baltimore Community Foundation. A permanent endowment, the contribution will create a perpetual fund that will grow over time.

"We believe in Baltimore and want to promote home ownership in the city so that all citizens feel vested in its vitality," said Susan Katzenberg, former chairman and president of Westview Savings Bank, in a prepared statement to the press. Katzenberg currently serves as a trustee of the Baltimore Community Foundation and will serve as a director of Suburban Federal.

The general intent of the Fund is to serve the housing needs of low- to moderate-income residents of the Baltimore metropolitan area. Grants may be made to shelter and transitional housing programs; neighborhood and community development programs; home purchase counseling programs and other projects that promote and provide home ownership opportunities.

The Baltimore Community Foundation (BCF) is comprised of over 300 different charitable funds supported by the general public and serving the greater Baltimore region. Tom Wilcox, president of the Baltimore Community Foundation, said, "The Katzenbergs have not only supported BCF and Baltimore through their lifelong philanthropy, but have dedicated thousands of volunteer hours to this cause. The Westview Savings Bank Fund enables the Baltimore Community Foundation both to build on our vision and to realize the Katzenbergs' wonderful dreams for this region, paving the way for our neediest citizens to benefit from the opportunities made possible through homeownership."

The merger between Suburban Federal ($344 million in assets) and Westview Savings Bank ($66 million in assets) was announced in April of this year.


For more information, contact Robert Morrison, Jr. at 410-721-8401 or Susan B. Katzenberg at 410-747-6200.



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This story was published on October 12, 2004.