Background:
Pedcor Bancorp, formed in 1996, is a bank holding company that owns 84% of International City Bank and 100% of Pedcor Funding Corp. Pedcor Bancorp provides credit facilities to Pedcor related housing and commercial properties.
International City Bank, n.a., located in Long Beach and San Diego, California, is a $224 million national bank specializing in commercial real estate and construction lending. In addition to its lending activities, International City Bank owns several subsidiaries known collectively as the Affordable Housing Group, which own, manage, and develop affordable housing.
Pedcor Funding Corp owns 100% of Village Housing Corporation and Village Affordable Housing Corporation and engages in affordable housing construction, development, financing and ownership.
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