New Resource Bank
| Company type | Subsidiary |
|---|---|
| Industry | Banking, financial services |
| Founded | 2006 |
| Headquarters | San Francisco , United States |
Area served | United States |
Key people | Vince Siciliano (CEO) |
| Products | Commercial lending, deposit services, personal banking |
| Owner | Amalgamated Bank |
| Website | newresourcebank |
New Resource Bank, headquartered in San Francisco, operates as a subsidiary of Amalgamated Bank. It specializes in commercial lending and deposit services that prioritize renewable and alternative energy, eco-friendly construction, organic food, and products and services that support environmental sustainability, in addition to offering personal banking options.
The institution incorporates sustainability criteria into its credit evaluation process, striving to maintain a loan portfolio exclusively dedicated to enterprises that advance sustainable practices. Prospective clients must either be environmentally focused businesses or demonstrate a commitment to enhancing operational sustainability while addressing social and ecological responsibilities.
As an original member of the Global Alliance for Banking on Values, New Resource Bank has earned recognition as a Green America certified enterprise and a San Francisco Green Business, underscoring its dedication to sustainable finance initiatives.
Vince Siciliano, the bank's CEO, participates on the advisory board of the American Sustainable Business Council, reflecting the organization's influential role in promoting sustainable business principles.
History
Established in 2006 by 240 initial shareholders—including Triodos Bank and RSF Social Finance—New Resource Bank has grown to approximately 360 shareholders. Key investors now include the Generation IM Climate Solutions Fund alongside Triodos and RSF.
In 2010, the bank attained B Corporation certification by fulfilling stringent requirements for social and environmental performance, becoming the first publicly traded entity to receive this designation. After merging with privately held Amalgamated Bank in May 2018, New Resource Bank discontinued its status as a publicly listed company.
Amid the 2011 Occupy Wall Street protests, New Resource Bank leveraged evolving consumer attitudes by attracting clients departing from conventional financial institutions.
The May 2018 merger with Amalgamated Bank broadened New Resource Bank’s market reach and operational capabilities.