Many people claim they don’t keep their money in African American or Black owned banks because they are not aware of any that exist. Well, this article’s aim is to eradicate this line of excuses. We are going to provide comprehensive list of the 21 African American owned banks in the United States.
These 21 banks have total assets of approximately $4.7 billion dollars. This is a measly 0.43 percent of the $1.1 trillion dollars of annual spending power of the African American community. That’s right, we have over a trillion dollars in spending annually, but only keep $4.7 billion dollars of this in Black Owned Banks.
Many of you may not see a problem with this because the idea, or delusion, of multiculturalism has infected you. This is no accident. This is part of the same reasons in 1994 there were 54 African American owned banks, but only 21 remain today less than 20 years later. At this rate, we will be down to single digits in the next two decades or less, despite our annual spending power rapidly increasing.
Another shameful reality in these figures is we are constantly complaining loans are not extended to black owned businesses, which is why they are on the massive decline as well. We are complaining, but if we just pooled a quarter of that $1 trillion dollars in spending power in these banks, we could fund more businesses than we have ideas. All of this without the touch, approval or need of anyone outside of our community.
The bottom line, black community, is we must do better. They say when a people know better, they do better. Well?
Now you are in possession of a list of the ONLY 21 black owned banks in the country. These banks all have majority, 51% African American ownership or more, black owners. What are you going to do with this information?
ALAMERICA BANK
Location: Birmingham, Alabama
Founded: January 28, 2000
FDIC Region: Atlanta
Assets: $35 404 000
BROADWAY FEDERAL BANK FSB
Location: Los Angeles, California
Founded: February 26, 1947
FDIC Region: San Francisco
Assets: $385 055 000
CAPITAL CITY BANK & TRUST COMPANY
Location: Atlanta, Georgia
Founded: October 3, 1994
FDIC Region: Atlanta
Assets: $294 572 000
CARVER STATE BANK
Location: Savannah, Georgia
Founded: January 1, 1927
FDIC Region: Atlanta
Assets: $41 573 000
CITIZENS TRUST BANK
Location: Atlanta, Georgia
Founded: June 18, 1921
FDIC Region: Atlanta
Assets: $392 286 000
CITY NB OF NEW JERSEY
Location: Newark, New Jersey
Founded: June 11, 1973
FDIC Region: New York
Assets: $340 301 000
COMMONWEALTH NATIONAL BANK
Location: Mobile, Alabama
Founded: February 19, 1976
FDIC Region: Atlanta
Assets: $63 244 000
COVENANT BANK
Location: Chicago, Illinois
Founded: June 20, 1977
FDIC Region: Chicago
Assets: $59 842 000
FIRST INDEPENDENCE BANK
Location: Detroit, Michigan
Founded: May 14, 1970
FDIC Region: Chicago
Assets: $215 924 000
FIRST STATE BANK
Location: Danville, Virginia
Founded: September 08, 1919
FDIC Region: Atlanta
Assets: $38 882 000
FIRST TUSKEGEE BANK
Location:Tuskegee, Alabama
Founded: October 11, 1991
FDIC Region: Atlanta
Assets: $63 127 000
HIGHLAND COMMUNITY BANK
Location: Chicago, Illinois
Founded: November 09, 1970
FDIC Region: Chicago
Assets: $84 948 000
ILLINOIS SERVICE FEDERAL SAVINGS & LOAN
Location: Chicago, Illinois
Founded: January 01, 1934
FDIC Region: Chicago
Assets: $140 148 000
INDUSTRIAL BANK
Location: Washington, DC
Founded: August 18, 1934
FDIC Region: New York
Assets: $342 524 000
LIBERTY BANK & TRUST COMPANY
Location: New Orleans, Louisiana
Founded: November 16, 1972
FDIC Region: Dallas
Assets: $545 019 000
MECHANICS & FARMERS BANK
Location: Durham, North Carolina
Founded: March 01, 1908
FDIC Region: Atlanta
Assets: $304 809 000
NORTH MILWAUKEE STATE BANK
Location: Milwaukee, Wisconsin
Founded: February 12, 1971
FDIC Region: Chicago
Assets: $91 490 000
ONEUNITED BANK
Location: Boston, Massachusetts
Founded: August 02, 1982
FDIC Region: New York
Assets: $590 624 000
SEAWAY BANK & TRUST COMPANY
Location: Chicago, Illinois
Founded: January 02, 1965
FDIC Region: Chicago
Assets: $573 168 000
UNITED BANK OF PHILADELPHIA
Location: Philadelphia, Pennsylvania
Founded: March 23, 1992
FDIC Region: New York
Assets: $67 930 000
UNITY NB OF HOUSTON
Location: Houston, Texas
Founded: August 01, 1985
FDIC Region: Dallas
Assets: $68 125 000
Source: FDIC
IGHLAND COMMUNITY BANK
Location: Chicago, Illinois
Founded: November 09, 1970
FDIC Region: Chicago
Assets: $84 948 000
ILLINOIS SERVICE FEDERAL SAVINGS & LOAN
Location: Chicago, Illinois
Founded: January 01, 1934
FDIC Region: Chicago
Assets: $140 148 000
INDUSTRIAL BANK
Location: Washington, DC
Founded: August 18, 1934
FDIC Region: New York
Assets: $342 524 000
LIBERTY BANK & TRUST COMPANY
Location: New Orleans, Louisiana
Founded: November 16, 1972
FDIC Region: Dallas
Assets: $545 019 000
MECHANICS & FARMERS BANK
Location: Durham, North Carolina
Founded: March 01, 1908
FDIC Region: Atlanta
Assets: $304 809 000
NORTH MILWAUKEE STATE BANK
Location: Milwaukee, Wisconsin
Founded: February 12, 1971
FDIC Region: Chicago
Assets: $91 490 000
ONEUNITED BANK
Location: Boston, Massachusetts
Founded: August 02, 1982
FDIC Region: New York
Assets: $590 624 000
SEAWAY BANK & TRUST COMPANY
Location: Chicago, Illinois
Founded: January 02, 1965
FDIC Region: Chicago
Assets: $573 168 000
UNITED BANK OF PHILADELPHIA
Location: Philadelphia, Pennsylvania
Founded: March 23, 1992
FDIC Region: New York
Assets: $67 930 000
UNITY NB OF HOUSTON
Location: Houston, Texas
Founded: August 01, 1985
FDIC Region: Dallas
Assets: $68 125 000
These 21 banks have total assets of approximately $4.7 billion dollars. This is a measly 0.43 percent of the $1.1 trillion dollars of annual spending power of the African American community. That’s right, we have over a trillion dollars in spending annually, but only keep $4.7 billion dollars of this in Black Owned Banks.
Many of you may not see a problem with this because the idea, or delusion, of multiculturalism has infected you. This is no accident. This is part of the same reasons in 1994 there were 54 African American owned banks, but only 21 remain today less than 20 years later. At this rate, we will be down to single digits in the next two decades or less, despite our annual spending power rapidly increasing.
Another shameful reality in these figures is we are constantly complaining loans are not extended to black owned businesses, which is why they are on the massive decline as well. We are complaining, but if we just pooled a quarter of that $1 trillion dollars in spending power in these banks, we could fund more businesses than we have ideas. All of this without the touch, approval or need of anyone outside of our community.
The bottom line, black community, is we must do better. They say when a people know better, they do better. Well?
Now you are in possession of a list of the ONLY 21 black owned banks in the country. These banks all have majority, 51% African American ownership or more, black owners. What are you going to do with this information?
ALAMERICA BANK
Location: Birmingham, Alabama
Founded: January 28, 2000
FDIC Region: Atlanta
Assets: $35 404 000
BROADWAY FEDERAL BANK FSB
Location: Los Angeles, California
Founded: February 26, 1947
FDIC Region: San Francisco
Assets: $385 055 000
CAPITAL CITY BANK & TRUST COMPANY
Location: Atlanta, Georgia
Founded: October 3, 1994
FDIC Region: Atlanta
Assets: $294 572 000
CARVER STATE BANK
Location: Savannah, Georgia
Founded: January 1, 1927
FDIC Region: Atlanta
Assets: $41 573 000
CITIZENS TRUST BANK
Location: Atlanta, Georgia
Founded: June 18, 1921
FDIC Region: Atlanta
Assets: $392 286 000
CITY NB OF NEW JERSEY
Location: Newark, New Jersey
Founded: June 11, 1973
FDIC Region: New York
Assets: $340 301 000
COMMONWEALTH NATIONAL BANK
Location: Mobile, Alabama
Founded: February 19, 1976
FDIC Region: Atlanta
Assets: $63 244 000
COVENANT BANK
Location: Chicago, Illinois
Founded: June 20, 1977
FDIC Region: Chicago
Assets: $59 842 000
FIRST INDEPENDENCE BANK
Location: Detroit, Michigan
Founded: May 14, 1970
FDIC Region: Chicago
Assets: $215 924 000
FIRST STATE BANK
Location: Danville, Virginia
Founded: September 08, 1919
FDIC Region: Atlanta
Assets: $38 882 000
FIRST TUSKEGEE BANK
Location:Tuskegee, Alabama
Founded: October 11, 1991
FDIC Region: Atlanta
Assets: $63 127 000
HIGHLAND COMMUNITY BANK
Location: Chicago, Illinois
Founded: November 09, 1970
FDIC Region: Chicago
Assets: $84 948 000
ILLINOIS SERVICE FEDERAL SAVINGS & LOAN
Location: Chicago, Illinois
Founded: January 01, 1934
FDIC Region: Chicago
Assets: $140 148 000
INDUSTRIAL BANK
Location: Washington, DC
Founded: August 18, 1934
FDIC Region: New York
Assets: $342 524 000
LIBERTY BANK & TRUST COMPANY
Location: New Orleans, Louisiana
Founded: November 16, 1972
FDIC Region: Dallas
Assets: $545 019 000
MECHANICS & FARMERS BANK
Location: Durham, North Carolina
Founded: March 01, 1908
FDIC Region: Atlanta
Assets: $304 809 000
NORTH MILWAUKEE STATE BANK
Location: Milwaukee, Wisconsin
Founded: February 12, 1971
FDIC Region: Chicago
Assets: $91 490 000
ONEUNITED BANK
Location: Boston, Massachusetts
Founded: August 02, 1982
FDIC Region: New York
Assets: $590 624 000
SEAWAY BANK & TRUST COMPANY
Location: Chicago, Illinois
Founded: January 02, 1965
FDIC Region: Chicago
Assets: $573 168 000
UNITED BANK OF PHILADELPHIA
Location: Philadelphia, Pennsylvania
Founded: March 23, 1992
FDIC Region: New York
Assets: $67 930 000
UNITY NB OF HOUSTON
Location: Houston, Texas
Founded: August 01, 1985
FDIC Region: Dallas
Assets: $68 125 000
Source: FDIC
IGHLAND COMMUNITY BANK
Location: Chicago, Illinois
Founded: November 09, 1970
FDIC Region: Chicago
Assets: $84 948 000
ILLINOIS SERVICE FEDERAL SAVINGS & LOAN
Location: Chicago, Illinois
Founded: January 01, 1934
FDIC Region: Chicago
Assets: $140 148 000
INDUSTRIAL BANK
Location: Washington, DC
Founded: August 18, 1934
FDIC Region: New York
Assets: $342 524 000
LIBERTY BANK & TRUST COMPANY
Location: New Orleans, Louisiana
Founded: November 16, 1972
FDIC Region: Dallas
Assets: $545 019 000
MECHANICS & FARMERS BANK
Location: Durham, North Carolina
Founded: March 01, 1908
FDIC Region: Atlanta
Assets: $304 809 000
NORTH MILWAUKEE STATE BANK
Location: Milwaukee, Wisconsin
Founded: February 12, 1971
FDIC Region: Chicago
Assets: $91 490 000
ONEUNITED BANK
Location: Boston, Massachusetts
Founded: August 02, 1982
FDIC Region: New York
Assets: $590 624 000
SEAWAY BANK & TRUST COMPANY
Location: Chicago, Illinois
Founded: January 02, 1965
FDIC Region: Chicago
Assets: $573 168 000
UNITED BANK OF PHILADELPHIA
Location: Philadelphia, Pennsylvania
Founded: March 23, 1992
FDIC Region: New York
Assets: $67 930 000
UNITY NB OF HOUSTON
Location: Houston, Texas
Founded: August 01, 1985
FDIC Region: Dallas
Assets: $68 125 000
