For the most current African American Owned Bank Directory visit the 2022 link by clicking here.
All banks are listed by state. 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.
(Founders of Merchants & Farmers Bank in Durham, North Carolina)
OTHER KEY FINDINGS:
- AAOBs are in 17 states and territories. Key states absent are Florida, Mississippi, New York, and Ohio.
- Alabama, Georgia, Illinois, Tennessee, and Wisconsin each have two AAOBs.
- 2016 Median AAOBs Aseets: $107 551 000 ($113 470 000)*
- 2016 Average AAOBs Assets: $210 292 000 ($233 583 000)*
- African American bank assets saw a 1.2 percent decrease or net loss of approximately $57 million in assets in 2015.
- AAOBs control 0.03 percent of America’s $15.7 trillion Bank Owned Assets.
- AAOBs control 2.3 percent of FDIC designated Minority-Owned Bank Assets, which is down from 2.6 percent in 2015.
- There has not been an AAOB started in 16 years.
- Only 8 of 2016’s 22 AAOBs saw increases in assets.
- For comparison, Asian American Owned Banks have approximately $46.1 billion in assets spread over 68 institutions. They control 6.0 percent of Asian America’s buying power.
*Previous year in parentheses
There are 22 African American owned banks (AAOBs) with assets totaling approximately $4.6 billion in assets or approximately 0.43 percent of African America’s $1.1 trillion in buying power.
ALABAMA
Location: Birmingham, Alabama
Founded: January 28, 2000
FDIC Region: Atlanta
Assets: $35 476 000
Asset Change (2015): Down 13.4%
Location: Mobile, Alabama
Founded: February 19, 1976
FDIC Region: Atlanta
Assets: $56 501 000
Asset Change (2015): Down 3.8%
CALIFORNIA
Location: Los Angeles, California
Founded: February 26, 1947
FDIC Region: San Francisco
Assets: $402 902 000
Asset Change (2015): Up 16.6%
DISTRICT OF COLUMBIA
Location: Washington, DC
Founded: August 18, 1934
FDIC Region: New York
Assets: $388 951 000
Asset Change (2015): Up 6.5%
GEORGIA
Location: Savannah, Georgia
Founded: January 1, 1927
FDIC Region: Atlanta
Assets: $42 174 000
Asset Change (2015): Down 2.5%
Location: Atlanta, Georgia
Founded: June 18, 1921
FDIC Region: Atlanta
Assets: $387 897 000
Asset Change (2015): Down 3.2%
ILLINOIS
ILLINOIS SERVICE FEDERAL SAVINGS & LOAN
Location: Chicago, Illinois
Founded: January 01, 1934
FDIC Region: Chicago
Assets: $101 291 000
Asset Change (2015): Down 10.7%
Location: Chicago, Illinois
Founded: January 02, 1965
FDIC Region: Chicago
Assets: $369 544 000
Asset Change (2015): Down 29.3%
LOUISIANA
Location: New Orleans, Louisiana
Founded: November 16, 1972
FDIC Region: Dallas
Assets: $604 163 000
Asset Change (2015): Up 9.4%
MARYLAND
Location: Baltimore, Maryland
Founded: September 13, 1982
FDIC Region: New York
Assets: $285 246 000
Asset Change (2015): Up 22.1%
MASSACHUSETTS
Location: Boston, Massachusetts
Founded: August 02, 1982
FDIC Region: New York
Assets: $648 615 000
Asset Change (2015): Up 4.6%
MICHIGAN
Location: Detroit, Michigan
Founded: May 14, 1970
FDIC Region: Chicago
Assets: $216 821 000
Asset Change (2015): Down 12.3%
NEW JERSEY
Location: Newark, New Jersey
Founded: June 11, 1973
FDIC Region: New York
Assets: $250 095 000
Asset Change (2015): Down 12.9%
NORTH CAROLINA
Location: Durham, North Carolina
Founded: March 01, 1908
FDIC Region: Atlanta
Assets: $298 014 000
Asset Change (2015): Up 3.0%
PENNSYLVANIA
Location: Philadelphia, Pennsylvania
Founded: March 23, 1992
FDIC Region: New York
Assets: $59 001 000
Asset Change (2015): Down 2.5%
SOUTH CAROLINA
Location: Columbia, South Carolina
Founded: March 26, 1999
FDIC Region: Atlanta
Assets: $52 995 000
Asset Change (2015): Down 14.2%
TENNESSEE
Location: Nashville, Tennessee
Founded: January 4, 1904
FDIC Region: Dallas
Assets: $104 060 000
Asset Change (2015): Up 5.1%
Location: Memphis, Tennessee
Founded: December 16, 1946
FDIC Region: Dallas
Assets: $111 042 000
Asset Change (2015): Down 12.3%
TEXAS
Location: Houston, Texas
Founded: August 01, 1985
FDIC Region: Dallas
Assets: $83 327 000
Asset Change (2015): Up 10.3%
VIRGINIA
Location: Danville, Virginia
Founded: September 08, 1919
FDIC Region: Atlanta
Assets: $37 612 000
Asset Change (2015): Down 4.1%
WISCONSIN
COLUMBIA SAVINGS & LOAN ASSOCIATION
Location: Milwaukee, Wisconsin
Founded: January 1, 1924
FDIC Region: Chicago
Assets: $23 684 000
Asset Change (2015): Down 2.7%
Location: Milwaukee, Wisconsin
Founded: February 12, 1971
FDIC Region: Chicago
Assets: $67 115 000
Asset Change (2015): Down 13.0%
HBCU Money 
Just a quick question about City National Bank, in Newark. City National Bank’s parent co., City National Corp., based in Los Angeles, was bought out by Royal Bank of Canada. It was announced last November. Is the bank in Newark under the same umbrella as the one in Los Angeles? Wouldn’t that take them off the list of Black-owned banks?
According to their website, North Milwaukee State Bank has been closed (https://nmsbank.com/).
How many customers are serviced approximately by our black banks? Secondly Do any of our black banks have free of fees programs for veteran customers.
Clyde B Jones Sr, MBA
Tuskegee Airmen West Region Rep, Natl Bd Dir
TAIWestRegion@gmail.com
707.386.9592
Former Viet Nam era Naval Officer Vet, Travis AFB Chapter member
Why isn’t Carver Bank. NYC on the list?
Pat,
Carver Bank is no longer 51% African American owned. It received a $55 million bailout from Goldman Sachs, Morgan Stanley, & Citigroup.
Oh sweat! No wonder I couldn’t afford their opening rates anymore. $100.00!!!!!!!!!! WOW!!!!! ISN’T THAT TOO MUCH FOR POOR PEOPLE????
I notice that Carver Federal Savinging in NYC is not on this list? Is that due to owner of Carver Frderal Savings not being 51% black ownership? And what is the current % black/ African American owned?
I was recently informed that while Harbour Bank in Baltimore was a Black owned bank it current is no longer owned by Blacks. I’m currently doing some research to confirm this info.
Can you post it I live in md too and need a good credit union
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Are there any in new York
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Is there no black owned bank in New York City?
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I noticed One United is missing from the California list. Are they no longer a Black bank?
Yes, OneUnited is still a black bank. It is headquartered in MA. It has branches in California and Florida, making it the only African American bank with a multi-state footprint.
Liberty Bank, New Orleans, La, has a branch in Jackson, Ms., and several other states.?
An interesting list, some concern with how many black owned banks re no longer black owned. Are there any private or government organizations that supports and helps the creation of black owned banks?
I read somewhere that St. Louis Community Credit Union located in St. Louis, Missouri was Black-owned? If so, why isn’t it listed here? Or are you just not listing credit unions?
Please see our 2016 African American Credit Union Directory.
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The best investment is FUBU!
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I do not see any NY Banks on this list but have seen entities such as Urban Upbound Credit Union and One United on other websites. Are there websites I can do the research and find out for myself?