The HBCU Money™ Weekly Market Watch


Our Money Matters /\ July 22, 2016

A weekly snapshot of African American owned public companies and HBCU Money™ tracked African stock exchanges.

NAME TICKER PRICE (GAIN/LOSS %)

African American Publicly Traded Companies

Citizens Bancshares Georgia (CZBS) $7.15 (5.46% UP)

M&F Bancorp (MFBP) $3.00 (6.80% DN)

Broadway Financial Corporation (BYFC) $1.76 (1.68% DN)

Radio One (ROIA) $3.13 (0.69% UP)

African ETFs

Global X MSCI Nigeria (NGE) $4.55 (5.01% DN)

Market Vectors Africa (AFK) $20.08 (0.20% UP)

African Stock Exchanges

Bourse Regionale des Valeurs Mobilieres (BRVM)  288.89 (0.24% UP)

Botswana Stock Exchange (BSE)  9 925.96 (0.08% DN)

Ghana Stock Exchange (GSE)  1 780.45 (10.75% DN)*

Nairobi Stock Exchange (NSE)  138.52 (N/A)

Johannesburg Stock Exchange (JSE) 53 005.22 (0.06% UP)

International Stock Exchanges

New York Stock Exchange (NYSE) 10 805.04 (0.43% UP)

London Stock Exchange (LSE)  3 643.80 (0.29% UP)

Tokyo Stock Exchange (TOPIX)  1 327.51 (0.89% DN)

Commodities

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Texas Southern Alumnus Sharone Mayberry & Mayberry Homes Renovating Unity National Bank


“We must keep on trying to solve problems, one by one, stage by stage, if not on the basis of confidence and cooperation, at least on that of mutual toleration and self-interest.” – Lester B. Pearson

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All too often we hear about the need for African American consumers to support African American businesses to strengthen our economic ecosystem, but all too often there is forgotten component of this economic ecosystem and that is the business to business relationships. It is another part of the value chain that is vital to circulating the African American dollar. After all, businesses too are consumers. Have you ever walked into an African American owned restaurant and wondered where they get their food from? Did they buy it from an African American owned wholesaler the likes of Sam’s Club or Costco? Did the wholesaler buy it from an African American farmer? Did the farmer buy seeds and feed from an African American owned agriculture supply company? By the time a product actually gets to the consumer it has gone through an extensive value chain of business to business purchases. The B2B market is estimated to be four times the size of the B2C market just in e-commerce and probably even larger in the traditional market. That is why seeing something like what is happening between Mayberry Homes and Unity National Bank is socially and economically very important.

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Mayberry Homes, a company owned by Texas Southern alumnus Sharone Mayberry, has been an active buyer of land and builder of homes in Houston’s Third Ward community. Bringing many of the community’s dilapidated homes in the area back to life as demand for property in Houston’s inner loop near downtown has skyrocketed in recent year.  Unity National Bank, founded in 1985 is the only African American owned bank in the state of Texas, is also headquartered in Houston’s Third Ward. If you ride around Third Ward, there are Mayberry Homes signs popping up everywhere so to see their in front of Unity National Bank was quite a statement. The bank’s building has not had a renovation in its thirty years of existence and with the recent surge in demand for accounts, an aesthetic that says to customers we are current and with the times is vital to the customer psychology and rapport. That the renovation is being done by an African American owned company also says to the trust that has long been believed to be absent among the community in trusting each other in business. This is an opportunity to show on an institutional level that we do indeed trust, need, and want each other. That is something that then flows down to the individual consumer level.

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This is something that should be being taught in HBCU b-schools. That to improve the communities we come from as we launch businesses in those communities that it is important to do business as a business with HBCU/African American owned companies. Although, with less than 1 in 4 HBCU b-school deans and chairpersons having an HBCU degree, it is likely a lesson likely not being taught. Our business schools are teaching business from a general and not from a community or African American perspective. HBCUs have often served as conduits of institution to institution commerce within our community, but rarely is that taught in the classroom as something that should be done. That is something that should and must change if we are too leverage this new found renaissance happening as we see our banking institutions start to actually have the capital they need to eventually make the small business loans back into the community.

Seeing the change that Mayberry/Unity are bringing should be a gentle reminder as we go forth that the best way to lift the great weight of economic empowerment and development is to do it together.

Federal Reserve Chairwoman Janet Yellen’s June 2016 Press Conference (Video)


Excerpt from June Press Conference with Chairwoman Janet Yellen:

“While the general picture of the labor market is largely positive, some people are still struggling. Unemployment rates rose more during the recession for African Americans and Hispanics than for the nation overall, and even though those rates have also come down by more during the economic expansion, unemployment remains higher for these groups. Unfortunately, those gaps have not narrowed noticeably relative to where they were before the recession. Unemployment rates for young African American and Hispanic men without a college degree remain especially high, and one important benefit from further improvement in the labor market would be increased job opportunities for these men and other groups that currently still experience high unemployment.”

Full Press Conference & FOMC Statement:

Not Just Deposits But Shares: Buying A Stake In African America’s Publicly Traded Banks


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Editor’s Correction: Broadway Federal Bank located in Los Angeles, California is also publicly traded and information added below (July 19, 2016)

“But not only that, we’ve got to strengthen black institutions. I call upon you to take your money out of the banks downtown and deposit your money in Tri-State Bank. We want a “bank-in” movement in Memphis. Go by the savings and loan association. I’m not asking you something that we don’t do ourselves at SCLC.”- Martin Luther King, Jr.

It has been noted here at HBCU Money that after every tragic death of an African American by a police officer our site spikes. The primary cause for that spike has been a search for African American owned banks and credit unions and it usually last for a few days, then there are marches, pacification, and all returns to normal as does our site’s traffic. After the recent deaths of Alton Sterling and Philando Castile though something changed and the current numbers say it may finally be the groundswell needed for a permanent paradigm shift in African America’s thought process of self-dependence and empowerment. Banks are the foundation of allowing a community, city, state, nation to control its money and circulate their dollars within the aforementioned entities. This has been at the root of African America’s problem with getting dollars to circulate within its community – simply put a lack of dollars within the financial institutions in the community. Deposits turn into loans and those loans turn into mortgages to increase African American home ownership, reduces predatory lending, and helps launch small businesses which translates into jobs and wealth in the community usually of the bank or credit union entity.

The shift has been profound as banks like Unity National Bank and Citizens Trust (featured here) are overwhelmed by the number of new accounts to the point that their staff simply can not process the volume. Lobbies are jam packed with African Americans moving their money. The seed is planted, but it can not stop there. Another leg of this has to be investing in these institutions from an ownership perspective. More demand for their shares will cause the institutions share prices to increase and increase the value of the company. This allows the company to expand, open new offices, hire more people, and eventually buy other banks. As it buys other banks, it can scale up and drive down cost, which it can then pass that savings on to customers. All of this is investment in our institutions leads to a cycle of economic independence and empowerment that begins to grow and feed on itself like a snowball rolling down hill.

Lastly, America has roughly 13 700 publicly traded companies, but there are only three African American owned public companies (0.02% of all American public companies) and two of them are banks. Below are there profiles. If you want to buy shares in these companies, visit our link on Opening A Brokerage Account.

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CITIZENS BANCSHARES CORPORATION

CEO: Ms. Cynthia N. Day, CPA (Above Right)

Ticker Symbol: CZBS

Citizens Bancshares Corporation operates as the holding company for Citizens Trust Bank that provides various commercial banking products and services. The company accepts commercial and consumer deposit accounts, such as non-interest bearing checking accounts, money market checking accounts, negotiable order of withdrawal accounts, individual retirement accounts, time certificates of deposit, sweep accounts, and regular savings accounts. Its loan products include consumer/installment loans, mortgage loans, home equity lines of credit, construction loans, commercial loans, and small business loans. The company operates seven full-service financial centers in metropolitan Atlanta, Georgia; one full-service branch in Columbus, Georgia; one full-service branch in Birmingham, Alabama; and one full-service branch in Eutaw, Alabama. Citizens Bancshares Corporation was founded in 1921 and is based in Atlanta, Georgia.

M&F BANCORP

CEO: Mr. James H. Sills, III (Above Left)

Ticker Symbol: MFBP

M&F Bancorp, Inc. operates as the bank holding company for Mechanics and Farmers Bank that provides consumer and commercial banking products and services in North Carolina. The company offers deposit products, including checking, savings, negotiable order of withdrawal, money market, and individual retirement accounts, as well as certificates of deposit. It also provides loans for real estate, construction, businesses, personal use, home improvement, and automobiles; and equity lines of credit, credit lines, consumer loans, and credit cards. In addition, the company offers safe deposit boxes, Internet and mobile banking services, traveler’s checks, notary services, and automated teller machine services, as well as electronic funds transfer services, such as wire transfers. It operates seven branch offices in Durham, Raleigh, Charlotte, Greensboro, and Winston-Salem, North Carolina. The company was founded in 1907 and is headquartered in Durham, North Carolina.

BROADWAY FEDERAL BANK

CEO: Wayne-Kent A. Bradshaw

Ticker Symbol: BYFC

Broadway Financial Corporation operates as the holding company for Broadway Federal Bank, f.s.b. that provides savings and loan business services for low to moderate income communities in Southern California. The company accepts various deposit products, such as passbook savings accounts, checking accounts, NOW accounts, money market accounts, and fixed-term certificates of deposits. It also provides loan products, including multi-family mortgage, commercial real estate, single family mortgage, church, construction, commercial, and consumer loans. It operates three full service branches comprising two in the city of Los Angeles and one in the city of Inglewood, California. The company was founded in 1946 and is headquartered in Los Angeles, California.

Source: Company profiles provided by Yahoo Finance.

The HBCU Money™ Weekly Market Watch


Our Money Matters /\ July 15, 2016

A weekly snapshot of African American owned public companies and HBCU Money™ tracked African stock exchanges.

NAME TICKER PRICE (GAIN/LOSS %)

African American Publicly Traded Companies

Citizens Bancshares Georgia (CZBS) $7.01 (3.85% UP)

M&F Bancorp (MFBP) $3.22 (0.00% UNCH)

Radio One (ROIA) $3.14 (1.95% UP)

African ETFs

Global X MSCI Nigeria (NGE) $5.16 (2.29% DN)

Market Vectors Africa (AFK) $20.65 (0.48% DN)

African Stock Exchanges

Bourse Regionale des Valeurs Mobilieres (BRVM)  290.29 (0.03% DN)

Botswana Stock Exchange (BSE)  9 983.38 (0.06% DN)

Ghana Stock Exchange (GSE)  1 781.08 (10.72% DN)*

Nairobi Stock Exchange (NSE)  138.30 (N/A)

Johannesburg Stock Exchange (JSE) 53 088.46 (0.48% UP)

International Stock Exchanges

New York Stock Exchange (NYSE) 10 777.34 (0.09% DN)

London Stock Exchange (LSE)  3 606.72 (0.12% UP)

Tokyo Stock Exchange (TOPIX)  1 317.10 (0.45% UP)

Commodities

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