The Federal Deposit Insurance Corporation (FDIC) which oversees the vast majority of banks in the United States – in addition to providing them with deposit insurance – has a special designation for banks that are owned by minorities. These institutions are referred to as minority depository institutions (MDIs), and of September 30, 2021, there were 146 such institutions with a total of $322 billion of assets and $278 billion of customer deposits! Black owned banks are a subset of the MDIs, in addition to other minority groups including Hispanic, Asian or Pacific Islander and Native Americans. This article will focus on providing some information on the largest black own banks in the United States.
#13 – First Security Bank & Trust
- Total Assets: $61.6 billion
- Total Deposits: $55.1 billion
- Headquarters: Oklahoma City, Oklahoma
- Year Established: 1951
- Total Employees: 24
- Website: www.fsbokc.com
#12 – United Bank Of Philadelphia
- Total Assets: $64.2 billion
- Total Deposits: $56.0 billion
- Headquarters: Philadelphia, PA
- Year Established: 1992
- Total Employees: 16
- Website: http://www.ubphila.com
#11 – GN Bank
- Total Assets: $88.2 billion
- Total Deposits: $77.9 billion
- Headquarters: Chicago, IL
- Year Established: 1934
- Total Employees: 9
- Website: www.gnbank.net
#10 – Tri-State Bank Of Memphis
- Total Assets: $110.1 billion
- Total Deposits: $99.4 billion
- Headquarters: Memphis, TN
- Year Established: 1946
- Total Employees: 22
- Website: http://www.tristatebank.com
#9 – Citizens Savings B&T Co
- Total Assets: $126.4 billion
- Total Deposits: $109.9 billion
- Headquarters: Nashville, TN
- Year Established: 1904
- Total Employees: 22
- Website: www.bankcbn.com
#8 – Unity National Bank
- Total Assets: $242.0 billion
- Total Deposits: $214.0 billion
- Headquarters: Houston, TX
- Year Established: 1985
- Total Employees: 37
- Website: www.unitybanktexas.com
#7 – Optus Bank
- Total Assets: $272.5 billion
- Total Deposits: $242.9 billion
- Headquarters: Columbia, SC
- Year Established: 1999
- Total Employees: 29
- Website: http://www.optus.bank
#6 – Mechanics & Farmers Bank
- Total Assets: $373.2 billion
- Total Deposits: $319.5 billion
- Headquarters: Durham, NC
- Year Established: 1908
- Total Employees: 70
- Website: www.mfbonline.com
#5 – First Independence Bank
- Total Assets: $406.7 billion
- Total Deposits: $290.4 billion
- Headquarters: Detroit, MI
- Year Established: 1970
- Total Employees: 67
- Website: www.firstindependence.com
#4 – Industrial Bank
- Total Assets: $616.7 billion
- Total Deposits: $539.5 billion
- Headquarters: Washington, DC
- Year Established: 1934
- Total Employees: 136
- Website: www.industrial-bank.com
#3 – Oneunited Bank
- Total Assets: $634.9 billion
- Total Deposits: $469.4 billion
- Headquarters: Boston, MA
- Year Established: 1982
- Total Employees: 101
- Website: https://www.oneunited.com/
#2 – Citizens Trust Bank
- Total Assets: $655.7 billion
- Total Deposits: $593.6 billion
- Headquarters: Atlanta, GA
- Year Established: 1921
- Total Employees: 95
- Website: www.ctbconnect.com
#1 – Liberty Bank & Trust Co
- Total Assets: $926.0 billion
- Total Deposits: $809.2 billion
- Headquarters: New Orleans, LA
- Year Established: 1972
- Total Employees: 151
- Website: www.libertybank.net