FHLBank San Francisco awards record $10 million in economic development grants. AHEAD Program funding increases 25% from 2025, supporting 72 projects estimated to create or retain about 2,675 jobs across Arizona, California and Nevada. SAN FRANCISCO, Sept. 08, 2026 (GLOBE NEWSWIRE) - The Federal Home Loan Bank of San Francisco (FHLBank San Francisco) today announced it has awarded a record $10 million in economic development grants through its Access to Housing and Economic Assistance for Development (AHEAD) Program, a 25% increase from 2025. The Bank also increased the maximum grant award from $150,000 to $200,000, enabling nonprofit organizations to expand the scale and impact of local economic development initiatives. "We are committed to supporting organizations that create pathways to economic opportunity for people and communities across Arizona, California and Nevada," said Winthrop Watson, president and chief executive officer of FHLBank San Francisco. "Through the AHEAD Program, our member financial institutions work alongside nonprofit organizations to address community development, workforce and housing needs. Together, we are investing in stronger communities and expanding economic opportunities in the communities we jointly serve." This year's AHEAD grants are awarded through partnerships with 63 FHLBank San Francisco member financial institutions - including 14 members participating for the first time - to support 72 economic development projects in local communities across FHLBank San Francisco's three-state district. The funding will enable nonprofit organizations to expand the scale and reach of community development initiatives that strengthen local economies, create economic opportunity and address community needs. Collectively, the projects are expected to create or retain an estimated 2,675 jobs while advancing workforce development, entrepreneurship, affordable housing, financial capability and other community development initiatives. Since launching the AHEAD Program in 2004, FHLBank San Francisco has awarded more than $50 million to support over 1,000 community development projects across its three-state district. The record funding level in 2026 will help expand access to workforce training, small business development, affordable housing services and other community-based programs serving low- and moderate-income communities throughout the Bank's district. "At Bank of the Sierra, we are proud to partner with FHLBank San Francisco to award an AHEAD grant to Self-Help Enterprises," said Kevin McPhaill, president and chief executive officer of Bank of the Sierra. "By expanding access to financial education and coaching, this program will help people strengthen budgeting skills, improve financial well-being and build long-term economic stability, creating stronger families and communities throughout California's Central Valley." The 2026 AHEAD grants address the following community needs: * Job training (26%) * Entrepreneurship and microenterprise (18%) * Capacity building (17%) * Social services (11%) * Housing initiatives (7%) * Other economic development, financial education and technical assistance (21%) 2026 AHEAD-funded projects include: * Community Investment Corporation in Tucson, Arizona, in partnership with Vantage West Credit Union, will receive a $200,000 grant to expand Arizona's first coordinated heirs' property initiative through estate planning education, legal navigation, title resolution assistance and cross-sector support services that help families preserve homeownership and protect generational wealth. * The Center by Lendistry in Los Angeles, in partnership with City National Bank, will receive a $200,000 grant for the FORGE LA project, an initiative that aims to identify financing solutions and policies that help communities rebuild more quickly and equitably after disasters. * Self-Help Enterprises in Visalia, California, in partnership with Bank of the Sierra, will receive a $133,000 grant to help low-income renters at 10 affordable rental housing communities across Kern, Tulare, Fresno and Madera counties strengthen budgeting skills, improve credit, access banking services and build long-term financial stability for residents. * St. Jude's Ranch for Children in Boulder City, Nevada, in partnership with Toyota Financial Savings Bank, will receive an $83,000 grant to expand workforce development opportunities for at-risk youth ages 17 to 24, helping them gain industry-recognized vocational certifications and prepare for employment. About Federal Home Loan Bank of San Francisco The Federal Home Loan Bank of San Francisco is a member-driven cooperative helping local lenders in Arizona, California and Nevada build strong communities, create opportunity and change lives for the better. The tools and resources we provide to our member financial institutions, including commercial banks, credit unions, industrial loan companies, savings institutions, insurance companies and community development financial institutions, support homeownership, finance affordable housing, drive economic vitality and strengthen neighborhoods. Together with our members and community partners, we are helping create more vibrant and resilient communities throughout our three-state district.

KeyCorp appoints Doll as chief strategy officer & deputy chief financial officer. Chris Doll will serve as a member of Key's finance leadership team and executive council, reporting to Clark Khayat. In this role, he will lead Key's corporate strategy team and help guide the execution of the company's strategic priorities. KeyCorp added Chris Doll as chief strategy officer and deputy chief financial officer, effective Aug. 31, 2026. "I am very pleased to welcome Chris to Key," Clark Khayat, chief financial officer and head of technology at KeyCorp, said. "Chris brings a strong track record of leadership, deep financial expertise and a results-oriented approach that will help advance our strategic priorities. His ability to align strategy, financial discipline and execution will be instrumental as we continue to drive long-term growth and create value for our stakeholders." Doll joins Key from City National Bank, a wholly owned subsidiary of Royal Bank of Canada, where he served as executive vice president and chief financial officer. Prior to joining City National, he served in a variety of leadership roles with firms such as Fifth Third Bancorp, Omnicare and First Financial Bancorp. Doll brings a proven track record of enhancing financial performance, capital planning, strategic transformation and investor engagement. "I am excited to join Key as we focus on the next phase of profitable growth amidst an increasingly complex environment," Doll said. "Key has a strong client-focused culture, a talented team and a clear strategic vision. I look forward to partnering with colleagues across the organization to help drive disciplined growth, create value for our shareholders and support the long-term success of the company." Doll will serve as a member of Key's finance leadership team and executive council, reporting to Clark Khayat. In this role, he will lead Key's corporate strategy team and help guide the execution of the company's strategic priorities.

Royal Bank of Canada is exploring growth opportunities for City National Bank, its US subsidiary, with particular focus on expanding in Texas and the Southeast. CEO Dave McKay said the bank would consider acquisitions that create "meaningful shareholder value", though organic growth remains the priority. The bank is actively recruiting bankers in high-growth markets. City National, acquired by RBC in 2015, struggled in 2023 with rising deposit costs and increased credit loss provisions. The Los Angeles-based subsidiary is known as the "bank to the stars" due to its Hollywood connections. RBC's third-quarter Common Equity Tier 1 ratio stood at 13.5%. The bank repurchased C$1.6 billion of shares during the quarter ending 31 July.