Member FDIC. Equal Housing Lender.
Tom Steyer Steps Down as Beneficial State Bank Board Co-Chair
Jan 02, 2026
Today, we’re announcing that Tom Steyer, our Co-Founder and Board Co-Chair, has stepped down from the Board at Beneficial State Bank following his November announcement of a 2026 bid for governor of California. Tom is a deeply engaged citizen who has long been active in state and national politics, including his 2020 presidential run, and we wish him the best in his next effort to serve.
Beneficial State Bank’s mission and day-to-day operations remain unchanged, and we look forward to continuing to serve all our stakeholders — customers, colleagues, communities, the environment upon which we all depend, and the public interest at large. Kat Taylor will remain as our Board Chair, charting the way forward alongside our full leadership team.
Tom, together with Kat, founded Beneficial State Bank in 2007 to prove that banking can (and should) benefit people and the planet while maintaining economic prosperity. Their vision and deep care for a better banking system set up Beneficial State Bank to lead toward better beneficial banking. Today, we continue that commitment to a fair, inclusive, and regenerative banking system.
We extend our gratitude to Tom for his steadfast dedication to the bank throughout his time with us.
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