Monthly Archives: March 2013

HBCU Money™ Business Book Feature – Lasting Valor

Posted on March 3, 2013 by | Leave a comment

lasting-valor

Lasting Valor tells of some of the most dramatic acts of courage attempted in the entire Mediterranean theater during WWII–acts that resulted in Baker’s being awarded the Purple Heart, a Bronze Star and Distinguished Service Cross. On April 15, 1945, as part of one of the last segregated outfits to go to war for the United States, Lieutenant Baker knew he and his men were being deserted when, during the battle for Castle Aghinolfo in Northern Italy, his white commander told him he was going for reinforcements. Caught three miles behind enemy lines, and with half their comrades in arms dead, they refused to turn and run. Although he was decorated for his efforts, the army quietly surpressed this action until 1997, when Baker was awarded the Medal of Freedom by President Bill Clinton.

Lasting Valor also reveals Baker’s early life. An orphan raised by grandparents in nearly all-white Cheyenne, Wyoming, he survived a rocky adolescence and went on to live in Father Flanagan’s Home, and then to fight to join a segregated army. His years in the army are recounted, and give us a rare glimpse into the life of a World War II black infantryman. It is a powerful book; as The Washington Post praised: “Whites should read this book to learn of Baker’s accomplishments against a background of severe prejudice. Blacks should read it for the heroism it reveals. Everybody should read it for the power of its narrative.”

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HBCU Money™ Dozen Links 2/25 – 3/1

Posted on March 2, 2013 by | Leave a comment

Did you miss HBCU Money™ Dozen via Twitter? No worry. We are now putting them on the site for you to visit at your leisure.

Government Departments

Apply for the $5,000 Gift of Life Scholarship. Application deadline is 3/22 l Fund for Public Schools http://bit.ly/12heKhT

Energy efficiency upgrades to St. Louis City Hall resulted in energy savings of 50 percent l Energy http://go.usa.gov/2Yvd

USDA to Simplify Guaranteed Farm Loans by Setting Thresholds on Interest Rates l USDA http://1.usa.gov/XtwXDq

Breastfeeding is an invaluable asset in emergency planning. l Women’s Health http://go.usa.gov/2xFh

Fight cyber with cyber, or hit ’em where it hurts? l Government Computer News http://ow.ly/ibxps

New estimates cut farm bill savings l Senate News http://bit.ly/ZRwhf7

Federal Reserve, Central Banks, & Financial Departments

Saving as a % of disposable personal income dips to 2.4% in January, lowest since November 2007 l St. Louis Fed http://bit.ly/YH5rBG

Chart: Personal consumption expenditures (PCE) rose 0.2% in January after rising 0.1% in December l St. Louis Fed http://bit.ly/ZQZLK1

Chart: Construction spending declined in January to an annual rate of $883 billion l St. Louis Fed http://bit.ly/14a8KTj

Great resources for students interested in microfinance l World Bank http://ow.ly/i9FJh

The Supply of College-Educated Workers: The Roles of College Premia, College Costs, and Risk l Richmond Fed http://bit.ly/Yc76zW

Non-housing debt balances increased for the 3rd straight quarter & now stand at $2.75 trillion l NY Fed http://goo.gl/kSCQL

Thank you as always for joining us on Saturday for HBCU Money™ Dozen. The 12 most important government and central bank articles of the week.

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Posted in Finance & Tech Review

The HBCU Money™ Weekly Market Watch

Posted on March 1, 2013 by | Leave a comment

Our Money Matters /\ March 1, 2013

NAME TICKER PRICE (GAIN/LOSS %)

African American Publicly Traded Companies

Citizens Bancshares Georgia (CZBS) $5.27 (0.00% UNCH)

Radio One (ROIA) $1.47 (0.00% UNCH)

African Stock Exchanges

Bourse Regionale des Valeurs Mobilieres (BRVM)  192.57 (0.49% DN)

Botswana Stock Exchange (BSE)  7 945.98 (0.08% UP)

Ghana Stock Exchange (GSE)  1 482.26 (23.55% UP)*

Nairobi Stock Exchange (NSE)  107.18 (N/A)

Johannesburg Stock Exchange (JSE) 40 134.97 (1.07% UP)

International Stock Exchanges

New York Stock Exchange (NYSE) 8 873.42 (0.05% UP)

London Stock Exchange (LSE)  3 358.29 (0.27% UP)

Tokyo Stock Exchange (TOPIX)  984.33 (0.89% UP)

Commodities

Gold 1 572.50 (0.35% DN)

Oil 90.83 (1.33% DN)

*Ghana Stock Exchange shows current year to date movement. All others daily.

All quotes reported as of 1:00 PM Eastern Time Zone

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Posted in Market Watch

HBCU Money’s 2013 African American Owned Bank Directory

Posted on March 1, 2013 by | 136 comments

For the most current African American Owned Bank Directory visit the 2022 link by clicking here.

All banks are listed in alphabetical order. In order to be listed in our directory the bank must have at least 51 percent African American ownership. You can click on the bank name to go directly to their website.

blackbank

There are 21 African American owned banks with assets totaling approximately $4.7 billion in assets or approximately 0.43 percent of African America’s $1.1 trillion in buying power.

In 1994, there were 54 African American owned banks according to the FDIC. Now, there are 21.

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

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