First grants total $125,000; Provide key support to these small businesses after the Eaton Fire

Over 500 grant applications have been submitted and grants for small businesses in The Palisades and Malibu will be distributed in the coming days

Steadfast LA, in partnership with Banc of California, distributed the first small business recovery grants through their Small Business Initiative, providing a collective total of $125,000 to three cornerstone Altadena businesses: Webster’s Community Pharmacy which will celebrate its 100^th anniversary of serving Altadena next year, Fair Oaks Burger and Altadena Cookie Co. These small businesses will use the grants to recover from fire-related damages they have incurred, and to remain in Altadena, making clear to families and residents that the community is rebuilding and there’s a bright future ahead.

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This past Tuesday, Rick Caruso, Founder and Chairman of Steadfast LA, and Jared Wolff, Chairman and CEO of Banc of California, visited each business to meet the owners, hear their stories and distribute the grants. Video from these visits — featuring these business owners outlining their challenges since January, and how these grants will enable them to support the community — is available now on Steadfast LA’s social media channels. In the coming days, Steadfast LA will share more about these small businesses, their experiences following the fires, and how these resources will allow them to support the Altadena community as it rebuilds.

“Meeting with and hearing stories from the Millers at Webster’s Pharmacy, the Lees at Fair Oaks Burger, and Jessica and Michelle with Altadena Cookie Co. was moving and underscored how ingrained they all are in the community,” said Rick Caruso, Founder and Chairman of Steadfast LA. “I’m really proud that, through this initiative, they’ll have the resources to overcome the adversity they’ve faced since the fires and get back to doing what they do best: serving their customers and remaining part of the fabric of Altadena.”

“As the largest independent bank based in Los Angeles, Banc of California takes pride in supporting small businesses that define the character and vitality of our communities,” said Jared Wolff, Chairman and CEO of Banc of California. “Seeing firsthand the strength and spirit these small-business owners bring to Altadena was inspiring, and they are exactly who our initiative was designed to help. We look forward to distributing more grants and helping more small businesses recover.”

Launched last month, Steadfast LA’s Small Business Initiative provides direct grants of up to $50,000 to small businesses in wildfire-impacted communities across Altadena, Malibu, Pasadena and the Pacific Palisades, to help them reopen their doors or support their operations. Over 500 small businesses have submitted applications for grants through this initiative to date, and future grants will be distributed to small businesses in the Palisades and Malibu in the coming days. Banc of California donated the initial $1 million to fund this initiative from its Wildfire Relief & Recovery Fund, and Steadfast LA continues to provide added support and solicit further donations.

To learn more about this initiative or the small businesses it has supported, visit SteadfastLA.com or Steadfast LA’s social media channels on X and Instagram.

About Steadfast LA

Steadfast LA, founded and led by Rick Caruso, is a civic nonprofit organization dedicated to rebuilding Los Angeles after the devastating January 2025 fires. United by resilience and a shared vision for a stronger future, the organization comprises Angelenos committed to revitalizing the Altadena, Malibu, Pasadena, and Pacific Palisades communities. The group aims to accelerate the rebuilding process with efficiency and innovation by bringing together top leaders, bold ideas, and effective solutions to get things done right and fast. Visit https://www.steadfastla.com for more information about the organization and follow their efforts on X and Instagram.

About Banc of California, Inc.

Banc of California, Inc. (NYSE: BANC) is a bank holding company with over $34 billion in assets and the parent company of Banc of California. Banc of California is one of the nation’s premier relationship-based business banks, providing banking and treasury management services to small, middle-market, and venture-backed businesses. Banc of California is the largest independent bank headquartered in Los Angeles and the third largest bank headquartered in California and offers a broad range of loan and deposit products and services through 80 full-service branches located throughout California and in Denver, Colorado, and Durham, North Carolina, as well as through regional offices nationwide. The bank also provides full-stack payment processing solutions through its subsidiary, Deepstack Technologies, and serves the Community Association Management industry nationwide with its technology-forward platform, SmartStreet™. The bank is committed to its local communities through the Banc of California Charitable Foundation, and by supporting organizations that provide financial literacy and job training, small business support, affordable housing, and more. Member FDIC. For more information, please visit us at www.bancofcal.com.

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