For the most current African American Owned Bank Directory visit the 2022 link by clicking here.
(Founders of Merchants & Farmers Bank in Durham, North Carolina)
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.
OTHER KEY FINDINGS:
- Key losses were the closure of North Milwaukee State Bank and Seaway Bank & Trust.
- AAOBs are in 17 states and territories. Key states absent are Florida, Mississippi, New York, and Ohio.
- Alabama, Georgia, and Tennessee, each have two AAOBs.
- 2016 Median AAOBs Aseets: $107 631 000 ($107 551 000)*
- 2016 Average AAOBs Assets: $209 073 000 ($210 297 000)*
- African American bank assets saw a 9.6 percent decrease or net loss of approximately $445.1 million in assets in 2016, primarily from the closure of the two aforementioned banks.
- AAOBs control 0.03 percent of America’s $15.7 trillion Bank Owned Assets.
- AAOBs control 2 percent of FDIC designated Minority-Owned Bank Assets, which is down from 2.3 percent in 2016.
- There has not been an AAOB started in 16 years.
- Only 8 of 2016’s 20 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.
There are 20 African American owned banks (AAOBs) with assets totaling approximately $4.2 billion in assets or approximately 0.38 percent of African America’s $1.1 trillion in buying power. A 12 percent decrease from 2016.
ALABAMA
Location: Birmingham, Alabama
Founded: January 28, 2000
FDIC Region: Atlanta
Assets: $36 266 000
Asset Change (2016): Up 2.2%
Location: Mobile, Alabama
Founded: February 19, 1976
FDIC Region: Atlanta
Assets: $55 863 000
Asset Change (2016): Down 1.1%
CALIFORNIA
Location: Los Angeles, California
Founded: February 26, 1947
FDIC Region: San Francisco
Assets: $413 295 000
Asset Change (2016): Up 2.6%
DISTRICT OF COLUMBIA
Location: Washington, DC
Founded: August 18, 1934
FDIC Region: New York
Assets: $388 526 000
Asset Change (2016): Down 0.1%
GEORGIA
Location: Savannah, Georgia
Founded: January 1, 1927
FDIC Region: Atlanta
Assets: $39 739 000
Asset Change (2016): Down 5.8%
Location: Atlanta, Georgia
Founded: June 18, 1921
FDIC Region: Atlanta
Assets: $405 911 000
Asset Change (2016): Up 4.6%
ILLINOIS
ILLINOIS SERVICE FEDERAL SAVINGS & LOAN
Location: Chicago, Illinois
Founded: January 01, 1934
FDIC Region: Chicago
Assets: $105 403 000
Asset Change (2016): Up 4.1%
LOUISIANA
Location: New Orleans, Louisiana
Founded: November 16, 1972
FDIC Region: Dallas
Assets: $611 640 000
Asset Change (2016): Up 1.2%
MARYLAND
Location: Baltimore, Maryland
Founded: September 13, 1982
FDIC Region: New York
Assets: $248 503 000
Asset Change (2016): Down 12.9%
MASSACHUSETTS
Location: Boston, Massachusetts
Founded: August 02, 1982
FDIC Region: New York
Assets: $646 088 000
Asset Change (2016): Down 0.4%
MICHIGAN
Location: Detroit, Michigan
Founded: May 14, 1970
FDIC Region: Chicago
Assets: $236 098 000
Asset Change (2016): Up 8.9%
NEW JERSEY
Location: Newark, New Jersey
Founded: June 11, 1973
FDIC Region: New York
Assets: $223 040 000
Asset Change (2016): Down 10.8%
NORTH CAROLINA
Location: Durham, North Carolina
Founded: March 01, 1908
FDIC Region: Atlanta
Assets: $309 977 000
Asset Change (2016): Up 4.0%
PENNSYLVANIA
Location: Philadelphia, Pennsylvania
Founded: March 23, 1992
FDIC Region: New York
Assets: $55 969 000
Asset Change (2016): Down 5.1%
SOUTH CAROLINA
Location: Columbia, South Carolina
Founded: March 26, 1999
FDIC Region: Atlanta
Assets: $51 323 000
Asset Change (2016): Down 3.2%
TENNESSEE
Location: Nashville, Tennessee
Founded: January 4, 1904
FDIC Region: Dallas
Assets: $109 858 000
Asset Change (2016): Up 5.6%
Location: Memphis, Tennessee
Founded: December 16, 1946
FDIC Region: Dallas
Assets: $102 444 000
Asset Change (2016): Down 7.7%
TEXAS
Location: Houston, Texas
Founded: August 01, 1985
FDIC Region: Dallas
Assets: $84 206 000
Asset Change (2016): Up 1.1%
VIRGINIA
Location: Danville, Virginia
Founded: September 08, 1919
FDIC Region: Atlanta
Assets: $32 884 000
Asset Change (2016): Down 12.6%
WISCONSIN
COLUMBIA SAVINGS & LOAN ASSOCIATION
Location: Milwaukee, Wisconsin
Founded: January 1, 1924
FDIC Region: Chicago
Assets: $24 424 000
Asset Change (2016): Up 3.1%
HBCU Money 
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This is not a comment but question, WHY no Black owned banks in NEW YORK STATE?
Unfortunately, the only once black-owned bank in New York state was Carver Bank. After the crisis, it needed a bailout that reduced the ownership to under the 51% majority we require to make our list.
Can I put money in one of this banks? Even if I live in Mississippi
Yes, many of the banks have an online account option now.
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