Beneficial State Bank was established in 2007 with a visionary mission to challenge the traditional banking model that prioritizes profit over people and the planet. Co-Founders Kat Taylor and Tom Steyer donated capital to the bank through Beneficial State Foundation, a nonprofit entity that now holds the majority ownership, ensuring the bank is permanently governed in the public interest. Operating with a triple bottom line approach—prioritizing people, the planet, and long-term financial sustainability—Beneficial State Bank has grown to become a $1.7 billion asset state-chartered, federally insured bank with branches across California, Oregon, and Washington, embodying a more equitable and sustainable model for banking.