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 BBVA news visit, www.bbva.com and the U.S.
Newsroom.
Additional news updates can be found via Twitter and
Instagram.
For more financial information about BBVA in the U.S., visit
bbva.investorroom.com.
About BBVA
BBVA Group
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.
BBVA USA
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.
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SOURCE BBVA USA