October 23, 2019
HOUSTON, Oct. 23, 2019 /PRNewswire/ -- BBVA USA announced today that John Chan has been promoted to Director of the bank's Community Development Capital team, where he will have overall responsibility for the origination and portfolio management of the bank's Low Income Housing Tax Credit (LIHTC) projects across its footprint.
Chan comes to the role having 25 years of experience in lending for affordable housing development through the disciplines of sourcing, underwriting and closing. BBVA USA Director of Commercial Real Estate Banking Fred Ruess said it's this experience that will ensure success for Chan and the clients and communities his team will serve.
"John has quite literally been on the front lines of affordable housing lending since he stepped out of college," Ruess said. "His multi-faceted experience in the community development capital industry, combined with his reputation for fairness among clients, have made him a go-to resource in the industry."
Chan came to BBVA in 2016 to build the bank's community development finance presence in the West Region, and in doing so, helped to improve the bank's CRA performance. In February this year, the bank announced that the Federal Reserve Bank of Atlanta rated it "Outstanding" for CRA performance for its most recent examination period encompassing 2015 to 2017, with community development lending and investments receiving an "excellent performance" rating.
"I couldn't be more excited to be given this honor," Chan said. "BBVA globally is committed to serving all our communities as an engine of opportunity, and nowhere is that commitment taken more seriously than here in the U.S. I'm looking forward to continuing to develop and enhance our strong community development capital program to the ultimate benefit of the most vulnerable across our footprint."
Chan began his extensive experience in community development lending with Bank of America, rising through the ranks to become the Underwriting Manager for Northern California and the Pacific Northwest. He also held the same position US Bank, with oversight for Community Development Lending in California. While at BBVA, Chan originated, closed and managed new loan, tax-exempt bond and tax credit equity transactions for the bank, as well as managing LIHTC relationships and identifying other opportunities.
Active in the non-profit community, Chan currently serves on the board of the California Community Reinvestment Corporation, is a member of the Housing Development Committee for the Chinatown Community Development Center, and a board member of Community Vision, a California community development financial institution.
In his new role, Chan will oversee a team of six and be based in Stockton, CA.
For more financial information about BBVA in the U.S., visit bbva.investorroom.com.
BBVA (NYSE: BBVA) is a customer-centric global financial services group founded in 1857. The Group has a strong leadership position in the Spanish market and is the largest financial institution in Mexico. It has leading franchises in South America and the Sunbelt Region of the United States. It is also the leading shareholder in Turkey's BBVA Garanti. BBVA's purpose is to bring the age of opportunities to everyone, based on our customers' real needs: provide the best solutions, helping them make the best financial decisions, through an easy and convenient experience. The institution rests in solid values: Customer comes first, we think big and we are one team. BBVA's responsible banking model aspires to achieve a more inclusive and sustainable society.
In the U.S., BBVA is a Sunbelt-based financial institution that operates 641 branches, including 329 in Texas, 89 in Alabama, 63 in Arizona, 61 in California, 45 in Florida, 37 in Colorado and 17 in New Mexico. The bank ranks among the top 25 largest U.S. commercial banks based on deposit market share and ranks among the largest banks in Alabama (2nd), Texas (4th) and Arizona (6th). In the U.S., BBVA has been recognized as one of the leading small business lenders by the Small Business Administration (SBA) and ranked 8th nationally in terms of dollar volume of SBA loans originated in fiscal year 2018.
SOURCE BBVA USA
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