Down To 19 Owned Banks In The United States | Urban Intellectuals

Due to a lack of support and/or understanding the significance of having African American owned banks in the community, two more closed their doors recently. The dwindling number has those in the know concerned to say the least.
Most recently, Highland Community Bank folded their doors. On January 23, 2015, the FDIC swooped in to shut the previously black owned bank down for good. Located in the city of Chicago, the bank was founded in 1970. Many members of the community were sad to see it closed.
In a statement on their website, they broke the news to the community: 
On Friday, January 23, 2015, Highland Community Bank, Chicago, IL was closed by the Illinois Department of Financial & Professional Regulation – Division of Banking. Subsequently, the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed. 
[ADSENSE2]Unfortunately, Highland Community Bank wasn’t the only African American owned bank to close their doors. Just last year, Covenant Bank out of Chicago also met the same fate. Founded in 1976, the bank once stood as a symbol for black pride and progress, but a lack of support left it crippled and no longer able to function.
On February 15th, 2014, Covenant Bank closed their doors for good at the hands of the FDIC.
These two black owned banks closing their doors dwindles the number to 19 left remaining in the country. This is down from a high of 25 in 2006 according to OCC.gov and 21 in 2013 according to our last report on African American owned banks.
Read here: Did You Know There Were 21 African American Owned Banks In The Country?The two bank closings were compiled using the FDIC database of Failed Bank List, if you are interested in learning more.
19 Black Owned Banks Remaining.There are only 19 banks owned by African Americans left in the United States. And unless we get smart and start supporting these institutions with our financial needs, this number is going to dwindle down even smaller than this.
Here are those remaining Black Owned Banks
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
READ: Is Citizens Trust Bank Black Owned?
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 0001
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
Read more: http://urbanintellectuals.com/2015/02/17/down-to-19-black-owned-banks-in-the-united-states/