Black Banks in the US

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.

NAMECITYSTEST.ASSETS
(mil $)
ALAMERICA BANKBIRMINGHAMAL20000128 $15,330
CARVER FEDERAL SAVINGS BANKNEW YORKNY19480101 $735,340
CARVER STATE BANKSAVANNAHGA19270101 $63,974
CITIZENS SAVINGS BANK AND TRUST COMPANYNASHVILLETN19040104 $134,401
CITIZENS TRUST BANKATLANTAGA19210618 $680,998
CITY FIRST BANK, NATIONAL ASSOCIATION (NOT BLACK OWNED.
BLACK MANAGED)
WASHINGTONDC19981124 $1,128,631
COLUMBIA SAVINGS AND LOAN ASSOCIATIONMILWAUKEEWI19240101 $26,607
COMMONWEALTH NATIONAL BANKMOBILEAL19760219 $57,066
FIRST INDEPENDENCE BANKDETROITMI19700514 $396,316
FIRST SECURITY BANK AND TRUST COMPANYOKLAHOMA CITYOK19510406 $59,791
GN BANKCHICAGOIL19340101 $79,793
GRAND BANK FOR SAVINGS, FSB (NOT CONFIRMED AS BLACK)HATTIESBURGMS19680101$116006
INDUSTRIAL BANKWASHINGTONDC19340818 $621,400
LIBERTY BANK AND TRUST COMPANYNEW ORLEANSLA19721116 $1,014,251
MECHANICS & FARMERS BANKDURHAMNC19080301 $370,124
ONEUNITED BANKBOSTONMA19820802 $657,516
OPTUS BANKCOLUMBIASC19990326 $338,615
THE HARBOR BANK OF MARYLANDBALTIMOREMD19820913 $369,532
TIOGA-FRANKLIN SAVINGS BANK (NOT CONFIRMED AS BLACK OWNED)PHILADELPHIAPA20000701$66,257
UNITED BANK OF PHILADELPHIAPHILADELPHIAPA19920323 $67,850
UNITY NATIONAL BANK OF HOUSTONHOUSTONTX19850801 $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.

Black Banks 12/2022

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

https://www.blackenterprise.com/aka-sorority-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.