The deal to buy Holladay Bank and Trust, founded in 1974, still must be approved by financial regulators. The bank had $68 million in total assets at the end of 2022.“Holladay’s leadership was excited by this unique growth opportunity and by the chance to extend capital to new markets and underbanked customers,” Katie Spratling, who will serve as the bank’s president, said in a statement.
“We have never seen a Black bank start off in an affluent neighborhood and with a balance sheet with zero to no delinquencies,” said Bell, who formerly served as a policy adviser in the Trump White House and regional administrator of the Small Business Administration. “If Black banks are going to survive, we’re going to have to leave Martin Luther King Drive and go to Main Street.
Bernice King, youngest child of Martin Luther King Jr. and Coretta Scott King, is also an investor. She will serve as the bank’s senior vice president. Other investors include the New York Community Bank and Ryan Smith, the billionaire owner of the Utah Jazz professional basketball team.The bank will face several challenges as it tries to compete against large financial institutions, including holding onto its current customer base.
So why are 'black owned banks' failing then?
The use of the word arrest in this headline is interesting.
It’s not a civil rights victory at all!
Liberal left MSM are race baiters.
What's the name of the bank ?
To Black owned banks lend more or less to Black customers compared to competitor banks?
Stunning and brave bank
Guess anything can be a civil rights victory now.
IAmSophiaNelson When the Powerball was almost 2 billion, I thought that if I won, I would open a bank and grocery store in my old neighborhood. As you probably guessed, I did not win!
Very good
Why are you using 'arrest' when talking about black people?
racist attitude