Category: Minority Banks

Advocacy is One Thing, Action Another

A lot of lip-service is given to the concept of equality and freedom, but that’s not the same as action. For some Minority Depository Institutions (MDIs), especially for Black/African-American MDIs, this year, the advocacy is changing into actual action. The first de…

Minority Depository Institutions

As a nation of immigrants, we thought we would take the opportunity that Independence Day offers to us to champion our nation’s Minority Depository Institutions (MDIs). The first MDI on record was Freedman’s Savings & Trust Company, Lexington, KY, which…

C&I Lending Down 13% in Spite of PPP

A year ago (JRN 37:40), we took exception with United Bank of Philadelphia because 87% of its loan portfolio was tied to the success of small businesses (56% in Commercial Real Estate (CRE), 26% in Commercial & Industrial (C&I) +…

Person holding a sparkler for Independence Day

Independence Day, Minority Banks

As a nation of immigrants, we thought we would take the opportunity that Independence Day offers us to champion our nation’s Minority Depository Institutions (MDIs). (A Minority Depository Institution, or MDI, is a bank or credit union that is at…

De Novos: Banking With a Purpose

This year is poised to be the most active for de novo banks that we’ve seen since before he Great Recession. Five new banks have already opened their doors and two others are scheduled to open in June. While we…

In The Pursuit of Justice and Equality

Over the past year, some of our country’s biggest banks (Wells Fargo, JPMorgan and BofA) have pledged millions to Black-owned banks (or MDIs) and racial justice initiatives, but those did not necessarily focus on Asians or Pacific Islanders… until recent…

Financial Inclusion: We Can All Play a Part

The FDIC launched the pilot of a new public awareness campaign last week (April 6th) on the benefits of having a bank account. The pilot targets the Houston and Atlanta areas, where it confirmed that both Black Americans and Hispanic…

Image of Martin Luther King Monument with PPP Round 2

PPP Relaunch Open to Select Institutions

We know many small businesses were left behind in the first round of Paycheck Protection Program (PPP) loans. That’s why when the Treasury Department reopened the portal on Monday, it granted access exclusively to Community Financial Institutions (CFIs). CFIs, which…

The Majority of the Minority

According to the U.S. Census Bureau, Asian Americans and Pacific Islanders constitute about 6% of the U.S. population. They also control half of the nation’s minority owned banks. Most of these banks have strong ratings and histories, which is good…

Freedman to Liberty; Community

As we work to continue moving our particular cogs in the economic wheel, while practicing social distancing and self-isolating as appropriate, we have been surprised by a couple of regulatory posts that have not made the news due to everything…

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