Our listing of banks owned by Black persons. Black-owned banks are those at which 51% or more of the common (voting) stock is owned by Black Americans. Black-led banks, on the other hand, are banks where the majority of the board of directors are Black AND the bank primarily serves Black communities. We have been tracking this data since 1989. Data below comes from our historical database and the Minority Bank Deposit Program – Bureau of the Fiscal Service, Minority Depository Institutions Program – FDIC.
| NAME | CITY | ST | EST. | ASSETS (mil $) |
|---|---|---|---|---|
| ALAMERICA BANK | BIRMINGHAM | AL | 20000128 | $15,330 |
| CARVER FEDERAL SAVINGS BANK | NEW YORK | NY | 19480101 | $735,340 |
| CARVER STATE BANK | SAVANNAH | GA | 19270101 | $63,974 |
| CITIZENS SAVINGS BANK AND TRUST COMPANY | NASHVILLE | TN | 19040104 | $134,401 |
| CITIZENS TRUST BANK | ATLANTA | GA | 19210618 | $680,998 |
| CITY FIRST BANK, NATIONAL ASSOCIATION (NOT BLACK OWNED. BLACK MANAGED) | WASHINGTON | DC | 19981124 | $1,128,631 |
| COLUMBIA SAVINGS AND LOAN ASSOCIATION | MILWAUKEE | WI | 19240101 | $26,607 |
| COMMONWEALTH NATIONAL BANK | MOBILE | AL | 19760219 | $57,066 |
| FIRST INDEPENDENCE BANK | DETROIT | MI | 19700514 | $396,316 |
| FIRST SECURITY BANK AND TRUST COMPANY | OKLAHOMA CITY | OK | 19510406 | $59,791 |
| GN BANK | CHICAGO | IL | 19340101 | $79,793 |
| GRAND BANK FOR SAVINGS, FSB (NOT CONFIRMED AS BLACK) | HATTIESBURG | MS | 19680101 | $116006 |
| INDUSTRIAL BANK | WASHINGTON | DC | 19340818 | $621,400 |
| LIBERTY BANK AND TRUST COMPANY | NEW ORLEANS | LA | 19721116 | $1,014,251 |
| MECHANICS & FARMERS BANK | DURHAM | NC | 19080301 | $370,124 |
| ONEUNITED BANK | BOSTON | MA | 19820802 | $657,516 |
| OPTUS BANK | COLUMBIA | SC | 19990326 | $338,615 |
| THE HARBOR BANK OF MARYLAND | BALTIMORE | MD | 19820913 | $369,532 |
| TIOGA-FRANKLIN SAVINGS BANK (NOT CONFIRMED AS BLACK OWNED) | PHILADELPHIA | PA | 20000701 | $66,257 |
| UNITED BANK OF PHILADELPHIA | PHILADELPHIA | PA | 19920323 | $67,850 |
| UNITY NATIONAL BANK OF HOUSTON | HOUSTON | TX | 19850801 | $251,462 |
| SOURCE: FDIC, FMS, OCC. | Minority Depository Institutions List. | Fourth Quarter 2022. |
Black Bank Assets
The table below shows assets at Black banks over time.
News Articles
Impact of Regional Bank Troubles on Black People. https://www.impactinvesting.online/2023/05/the-impact-of-regional-bank-troubles-on.html
Bridging the Racial Wealth Gap: The Role of Black-Owned Banks and Financial Institutions. https://www.impactinvesting.online/2023/04/bridging-racial-wealth-gap-role-of.html
BLACK BANKS ARE SURGING, DISRUPTING LONG-TERM FLOW OF CLOSURES. https://www.blackenterprise.com/black-banks-are-resurging-disrupting-a-long-term-flow-of-closures/
Still Too Small: Recent Activity in the Black Banking Sector https://www.impactinvesting.online/2023/03/still-too-small-recent-activity-in.html
Alpha Kappa Alpha Sorority Inc. Rolls Out Digital Credit Union For Its Membership, Aiming To Help Build Wealth
VC Funding For Black Businesses Fell 45 Last Year After Hitting Record Levels – https://www.blackenterprise.com/vc-funding-for-black-businesses-fell-45-last-year-after-hitting-record-levels/
New Report Shows Racism Discourages Black Businesses from Funding – https://www.blackenterprise.com/new-report-racism-and-discrimination-main-causes-why-black-businesses-underperform-white-counterparts/
Greenwood Bank Opens https://www.impactinvesting.online/2022/04/greenwood-bank-opens.html
BankThink Black communities need more help from the Fed. July 07, 2020, 10:23 a.m. EDT.