Minority Depository Institutions (MDIs) are defined by the Federal Deposit Insurance Corporation as federally insured institutions that satisfy one of two conditions. Either (a) 51 percent or more of the voting stock of the institution is owned by minority individuals, or (b) a majority of the board of directors is minority and the community that the institution serves is predominantly minority. In addition to this, ownership of MDIs must be by citizens of the United States or permanent legal residents of the country. MDIs were created with the stated objective of promoting economic development in minority and lower income communities in the United States – these are groups and communities that are often under served by financial institutions. There were a total of 143 MDIs as of December 2021 all of which are listed below. In addition to that, here are some interesting statistics about the grouping.

Facts and Figures about MDIs

minority-depository-institutions

  • Though there are 143 MDIs, this represents only a tiny fraction of the over 4,800 federally insured banks in the United States.
  • Only 29 of the 50 states in the country have at least one MDI, though several territories also have MDIs.
  • California, Florida, Georgia, New York, Oklahoma and Texas have the most MDIs and combined are home to 70% of the MDIs in the country.
  • MDIs in total have $326 billion in assets, $197 billion in loans and $282 billion in deposits outstanding as of December 2021.
  • Similar to other banks (and credit unions) the number of MDIs has decreased over the years, from 181 10 years ago to 143 today. More on this below
  • 15 MDIs have been operating for more than a century and approximately two thirds of MDIs have been operating for more than 25 years.
  • CBW Bank is by far the oldest bank on the list having been established in 1892. It is also one of the oldest banks in the country.
  • Collectively these institutions employed 35,160 people as of December 2021.
  • Of the 143 MDIs, 16 were owned by Black or African Americans, 16 by Hispanic Americans, 61 by Asian Americans or Pacific Islander Americans and 18 by Native American or Alaskan Native Americans.
  • The three largest banks in this category (as ranked by their year end 2021 total assets) were Banco Popular De Puerto Rico, East West Bank and Cathay Bank. Banco Popular De Puerto and East West Bank are both publicly traded entities and had market capitalizations of over $6 billion and over $10 billion, respectively as of this writing.
  • In 2021 the median MDI delivered an ROE and ROA of 1.21% and 10.9% respectively, outpacing the nationwide average of 1.08% and 10.3%.
  • In 2021 MDIs performed better than other banks in key performance measures.

Evolution of MDIs over the Past 20 Years

history-of-minority-depository-institutions

Complete Listing of the 143 Active MDIs

Alaska

Alamerica Bank
  • Year Established: 2000
  • Total Assets: $16 million
  • Total Loans: $7 million
  • Employee Count: 8
  • Website: http://alamericabank.com
Commonwealth National Bank

Arizona

Canyon Community Bank

California

First Commercial Bank
  • Year Established: 1997
  • Total Assets: $815 million
  • Total Loans: $682 million
  • Employee Count: 85
  • Website: http://bankfcb.com
New Omni Bank
American Plus Bank
  • Year Established: 2007
  • Total Assets: $591 million
  • Total Loans: $494 million
  • Employee Count: 44
  • Website: http://www.bankaplus.com
American Continental Bank
United Pacific Bank
  • Year Established: 1982
  • Total Assets: $175 million
  • Total Loans: $116 million
  • Employee Count: 28
  • Website: www.upbnet.com
Community Commerce Bank
  • Year Established: 1976
  • Total Assets: $315 million
  • Total Loans: $218 million
  • Employee Count: 47
  • Website: https://www.ccombank.com
US Metro Bank
California Business Bank
Commercial Bank of California
  • Year Established: 2003
  • Total Assets: $2,028 million
  • Total Loans: $1,159 million
  • Employee Count: 189
  • Website: http://www.cbcal.com
Bank of Hope
  • Year Established: 1986
  • Total Assets: $17,884 million
  • Total Loans: $13,911 million
  • Employee Count: 1,486
  • Website: http://www.bankofhope.com
Cathay Bank
  • Year Established: 1962
  • Total Assets: $20,873 million
  • Total Loans: $16,214 million
  • Employee Count: 1,170
  • Website: https://www.cathaybank.com
Commonwealth Business Bank
  • Year Established: 2005
  • Total Assets: $1,809 million
  • Total Loans: $1,385 million
  • Employee Count: 205
  • Website: http://www.cbb-bank.com
CTBC Bank
  • Year Established: 1965
  • Total Assets: $4,330 million
  • Total Loans: $3,455 million
  • Employee Count: 345
  • Website: http://www.ctbcbankusa.com
Eastern International Bank
  • Year Established: 1985
  • Total Assets: $139 million
  • Total Loans: $97 million
  • Employee Count: 24
  • Website: https://www.eibankca.com
Hanmi Bank
  • Year Established: 1982
  • Total Assets: $6,856 million
  • Total Loans: $5,092 million
  • Employee Count: 590
  • Website: http://www.hanmi.com
Open Bank
  • Year Established: 2005
  • Total Assets: $1,727 million
  • Total Loans: $1,387 million
  • Employee Count: 193
  • Website: https://myopenbank.com
Pacific City Bank
  • Year Established: 2003
  • Total Assets: $2,150 million
  • Total Loans: $1,747 million
  • Employee Count: 247
  • Website: http://www.paccitybank.com
Preferred Bank
Royal Business Bank
Genesis Bank
  • Year Established: 2021
  • Total Assets: $86 million
  • Total Loans: $36 million
  • Employee Count: 39
  • Website: www.mygenesisbank.com
Gateway Bank
  • Year Established: 1990
  • Total Assets: $175 million
  • Total Loans: $99 million
  • Employee Count: 25
  • Website: www.gatewayfsb.com
Metropolitan Bank
  • Year Established: 1983
  • Total Assets: $211 million
  • Total Loans: $170 million
  • Employee Count: 46
  • Website: https://www.met.bank
East West Bank
  • Year Established: 1972
  • Total Assets: $60,850 million
  • Total Loans: $42,171 million
  • Employee Count: 3,095
  • Website: http://www.eastwestbank.com
Evertrust Bank
Pacific Alliance Bank
First General Bank
Bank of The Orient
  • Year Established: 1971
  • Total Assets: $947 million
  • Total Loans: $683 million
  • Employee Count: 104
  • Website: www.bankorient.com
California Pacific Bank
  • Year Established: 1980
  • Total Assets: $83 million
  • Total Loans: $45 million
  • Employee Count: 8
  • Website: www.calpacificbank.com
Mission National Bank
  • Year Established: 1982
  • Total Assets: $221 million
  • Total Loans: $127 million
  • Employee Count: 39
  • Website: http://www.mnbsf.com
Asian Pacific National Bank
Mega Bank
Universal Bank
California International Bank
  • Year Established: 2005
  • Total Assets: $90 million
  • Total Loans: $49 million
  • Employee Count: 17
  • Website: http://calibankna.com
Bank of Whittier

Colorado

Native American Bank

District of Columbia

Industrial Bank
  • Year Established: 1934
  • Total Assets: $625 million
  • Total Loans: $298 million
  • Employee Count: 136
  • Website: www.industrial-bank.com
Leader Bank
  • Year Established: 2002
  • Total Assets: $3,077 million
  • Total Loans: $2,345 million
  • Employee Count: 403
  • Website: www.leaderbank.com/

Florida

Banesco USA
  • Year Established: 2006
  • Total Assets: $2,134 million
  • Total Loans: $1,592 million
  • Employee Count: 290
  • Website: https://banescousa.com
U.S. Century Bank
  • Year Established: 2002
  • Total Assets: $1,854 million
  • Total Loans: $1,175 million
  • Employee Count: 187
  • Website: http://www.uscentury.com
Interamerican Bank
  • Year Established: 1976
  • Total Assets: $270 million
  • Total Loans: $159 million
  • Employee Count: 72
  • Website: www.interamericanbank.com
International Finance Bank
  • Year Established: 1983
  • Total Assets: $946 million
  • Total Loans: $726 million
  • Employee Count: 107
  • Website: https://www.ifbbank.com
Ocean Bank
  • Year Established: 1982
  • Total Assets: $5,325 million
  • Total Loans: $3,912 million
  • Employee Count: 651
  • Website: www.oceanbank.com
Plus International Bank
  • Year Established: 2001
  • Total Assets: $80 million
  • Total Loans: $46 million
  • Employee Count: 12
  • Website: www.plusintbank.com
Sunstate Bank
Apollo Bank
  • Year Established: 2001
  • Total Assets: $1,044 million
  • Total Loans: $658 million
  • Employee Count: 100
  • Website: www.apollobank.com
Central Bank
  • Year Established: 2007
  • Total Assets: $265 million
  • Total Loans: $209 million
  • Employee Count: 48
  • Website: www.centralbankfl.com

Georgia

Touchmark National Bank
  • Year Established: 2008
  • Total Assets: $422 million
  • Total Loans: $290 million
  • Employee Count: 25
  • Website: www.touchmarknb.com
Citizens Trust Bank
  • Year Established: 1921
  • Total Assets: $669 million
  • Total Loans: $282 million
  • Employee Count: 87
  • Website: www.ctbconnect.com
First IC Bank
  • Year Established: 2000
  • Total Assets: $942 million
  • Total Loans: $661 million
  • Employee Count: 114
  • Website: www.firsticbank.com
Metro City Bank
Promiseone Bank
Loyal Trust Bank
  • Year Established: 2019
  • Total Assets: $114 million
  • Total Loans: $60 million
  • Employee Count: 15
  • Website: www.loyaltrustbank.com
Embassy National Bank
Carver State Bank
Quantum National Bank
  • Year Established: 1995
  • Total Assets: $642 million
  • Total Loans: $545 million
  • Employee Count: 67
  • Website: www.quantumbank.com

Guam

Anz Guam
  • Year Established: 1991
  • Total Assets: $438 million
  • Total Loans: $53 million
  • Employee Count: 102
  • Website: www.anz.com/guam
Bank of Guam
  • Year Established: 1972
  • Total Assets: $2,764 million
  • Total Loans: $1,284 million
  • Employee Count: 529
  • Website: https://www.bankofguam.com
Bankpacific
  • Year Established: 1953
  • Total Assets: $192 million
  • Total Loans: $103 million
  • Employee Count: 97
  • Website: www.bankpacific.com

Hawaii

Finance Factors
  • Year Established: 1952
  • Total Assets: $578 million
  • Total Loans: $375 million
  • Employee Count: 119
  • Website: www.financefactors.com
Hawaii National Bank
  • Year Established: 1960
  • Total Assets: $891 million
  • Total Loans: $417 million
  • Employee Count: 156
  • Website: www.hawaiinational.bank

Iowa

Pinnacle Bank
  • Year Established: 1927
  • Total Assets: $261 million
  • Total Loans: $165 million
  • Employee Count: 26
  • Website: www.bankpinnacle.us

Illinois

Citizens Bank of Chatsworth
  • Year Established: 1903
  • Total Assets: $42 million
  • Total Loans: $22 million
  • Employee Count: 9
  • Website: www.bankatcbc.com
American Metro Bank
GN Bank
  • Year Established: 1934
  • Total Assets: $85 million
  • Total Loans: $67 million
  • Employee Count: 9
  • Website: www.gnbank.net
International Bank of Chicago
  • Year Established: 1992
  • Total Assets: $890 million
  • Total Loans: $619 million
  • Employee Count: 116
  • Website: www.inbk.com
Millennium Bank
  • Year Established: 2007
  • Total Assets: $283 million
  • Total Loans: $187 million
  • Employee Count: 36
  • Website: www.milbnk.com

Kansas

CBW Bank
  • Year Established: 1892
  • Total Assets: $65 million
  • Total Loans: $26 million
  • Employee Count: 23
  • Website: www.cbwbank.com

Louisiana

Liberty Bank and Trust
  • Year Established: 1972
  • Total Assets: $971 million
  • Total Loans: $503 million
  • Employee Count: 171
  • Website: www.libertybank.net

Massachusetts

The Harbor Bank of Maryland
Oneunited Bank

Maryland

KEB Hana Bank USA
  • Year Established: 1986
  • Total Assets: $293 million
  • Total Loans: $164 million
  • Employee Count: 40
  • Website: http://www.kebhana.us

Minnesota

Woodlands National Bank

Missouri

People’s Bank of Seneca

Montana

Eagle Bank
  • Year Established: 2006
  • Total Assets: $98 million
  • Total Loans: $62 million
  • Employee Count: 18
  • Website: www.eaglebankmt.com

North Dakota

Turtle Mountain State Bank
City First Bank

New Jersey

New Millennium Bank
  • Year Established: 1999
  • Total Assets: $541 million
  • Total Loans: $356 million
  • Employee Count: 77
  • Website: https://www.nmbonline.com
Ponce Bank
  • Year Established: 1960
  • Total Assets: $1,642 million
  • Total Loans: $1,305 million
  • Employee Count: 172
  • Website: www.poncebank.net

New York

Amerasia Bank
  • Year Established: 1988
  • Total Assets: $887 million
  • Total Loans: $695 million
  • Employee Count: 83
  • Website: www.amerasiabankny.com
Newbank
  • Year Established: 2006
  • Total Assets: $555 million
  • Total Loans: $302 million
  • Employee Count: 51
  • Website: http://www.newbankusa.com
Abacus Federal Savings Bank
  • Year Established: 1984
  • Total Assets: $337 million
  • Total Loans: $234 million
  • Employee Count: 82
  • Website: www.abacusbank.com
Carver Federal Savings Bank
  • Year Established: 1948
  • Total Assets: $723 million
  • Total Loans: $547 million
  • Employee Count: 97
  • Website: http://www.Carverbank.com
Eastbank
Global Bank
Piermont Bank
  • Year Established: 2019
  • Total Assets: $364 million
  • Total Loans: $155 million
  • Employee Count: 29
  • Website: www.piermontbank.com
Popular Bank
  • Year Established: 1999
  • Total Assets: $10,390 million
  • Total Loans: $8,277 million
  • Employee Count: 667
  • Website: http://www.popularbank.com
Shinhan Bank America
  • Year Established: 1990
  • Total Assets: $1,920 million
  • Total Loans: $1,526 million
  • Employee Count: 240
  • Website: https://www.shbamerica.com
United Orient Bank
  • Year Established: 1981
  • Total Assets: $95 million
  • Total Loans: $75 million
  • Employee Count: 32
  • Website: http://www.uobusa.com
Woori America Bank
  • Year Established: 1984
  • Total Assets: $2,970 million
  • Total Loans: $2,126 million
  • Employee Count: 250
  • Website: www.wooriamericabank.com

North Carolina

Mechanics & Farmers Bank
  • Year Established: 1908
  • Total Assets: $365 million
  • Total Loans: $230 million
  • Employee Count: 73
  • Website: www.mfbonline.com
Lumbee Guaranty Bank

Minnesota

First Independence Bank
  • Year Established: 1970
  • Total Assets: $412 million
  • Total Loans: $186 million
  • Employee Count: 71
  • Website: www.firstindependence.com

New Mexico

Community 1st Bank Las Vegas
  • Year Established: 1949
  • Total Assets: $169 million
  • Total Loans: $48 million
  • Employee Count: 39
  • Website: https://www.cfblv.com
Centinel Bank of Taos
  • Year Established: 1969
  • Total Assets: $380 million
  • Total Loans: $123 million
  • Employee Count: 47
  • Website: www.centinelbank.com

Oklahoma

Firstbank
  • Year Established: 1901
  • Total Assets: $576 million
  • Total Loans: $361 million
  • Employee Count: 162
  • Website: www.firstbank-ok.com
Allnations Bank
  • Year Established: 1901
  • Total Assets: $50 million
  • Total Loans: $24 million
  • Employee Count: 10
  • Website: http://www.anbok.com
F&M Bank
  • Year Established: 1902
  • Total Assets: $640 million
  • Total Loans: $351 million
  • Employee Count: 111
  • Website: http://www.fmbankok.com
Bank of Grand Lake
  • Year Established: 2005
  • Total Assets: $239 million
  • Total Loans: $124 million
  • Employee Count: 38
  • Website: www.bankofgrandlake.com
Bank of Cherokee County
Gateway First Bank
  • Year Established: 1935
  • Total Assets: $1,879 million
  • Total Loans: $1,322 million
  • Employee Count: 1,629
  • Website: www.gatewayfirst.com
Chickasaw Community Bank
  • Year Established: 1903
  • Total Assets: $349 million
  • Total Loans: $238 million
  • Employee Count: 132
  • Website: www.ccb.bank
First Security Bank and Trust
  • Year Established: 1951
  • Total Assets: $61 million
  • Total Loans: $48 million
  • Employee Count: 20
  • Website: www.fsbokc.com
The Pauls Valley National Bank
  • Year Established: 1905
  • Total Assets: $318 million
  • Total Loans: $155 million
  • Employee Count: 57
  • Website: www.pvnb.com/
First National Bank and Trust
  • Year Established: 1984
  • Total Assets: $718 million
  • Total Loans: $485 million
  • Employee Count: 132
  • Website: www.fnbokla.bank
Carson Community Bank
  • Year Established: 1903
  • Total Assets: $169 million
  • Total Loans: $94 million
  • Employee Count: 48
  • Website: www.carsoncommunity.bank

South Carolina

Optus Bank
  • Year Established: 1999
  • Total Assets: $315 million
  • Total Loans: $133 million
  • Employee Count: 33
  • Website: http://www.optus.bank

Tennessee

Citizens Savings Bank and Trust
  • Year Established: 1904
  • Total Assets: $135 million
  • Total Loans: $107 million
  • Employee Count: 25
  • Website: www.bankcbn.com

Texas

The First State Bank
  • Year Established: 1909
  • Total Assets: $56 million
  • Total Loans: $36 million
  • Employee Count: 17
  • Website: www.fsbabernathy.com
International Bank of Commerce
  • Year Established: 1984
  • Total Assets: $3,780 million
  • Total Loans: $1,149 million
  • Employee Count: 427
  • Website: www.ibc.com
American Bank
  • Year Established: 1974
  • Total Assets: $204 million
  • Total Loans: $124 million
  • Employee Count: 36
  • Website: https://abdallas.bank
One World Bank
  • Year Established: 2005
  • Total Assets: $139 million
  • Total Loans: $98 million
  • Employee Count: 31
  • Website: https://oneworldbank.com
State Bank of Texas
  • Year Established: 1987
  • Total Assets: $1,322 million
  • Total Loans: $1,057 million
  • Employee Count: 86
  • Website: www.statebnk.com

United Bank of El Paso Del Norte

  • Year Established: 2001
  • Total Assets: $334 million
  • Total Loans: $191 million
  • Employee Count: 44
  • Website: www.unitedelpaso.com
Spectra Bank
  • Year Established: 1986
  • Total Assets: $91 million
  • Total Loans: $32 million
  • Employee Count: 22
  • Website: www.spectra.bank
Freedom Bank
American First National Bank
  • Year Established: 1998
  • Total Assets: $2,287 million
  • Total Loans: $2,008 million
  • Employee Count: 235
  • Website: www.afnb.com
Golden Bank
Southwestern National Bank
  • Year Established: 1997
  • Total Assets: $856 million
  • Total Loans: $690 million
  • Employee Count: 115
  • Website: http://www.swnbk.com
Unity National Bank of Houston
  • Year Established: 1985
  • Total Assets: $254 million
  • Total Loans: $134 million
  • Employee Count: 42
  • Website: www.unitybanktexas.com
Commerce Bank
  • Year Established: 1982
  • Total Assets: $668 million
  • Total Loans: $164 million
  • Employee Count: 44
  • Website: www.ibc.com
Falcon International Bank
  • Year Established: 1986
  • Total Assets: $1,845 million
  • Total Loans: $1,019 million
  • Employee Count: 348
  • Website: http://www.falconbank.com
International Bank of Commerce
  • Year Established: 1966
  • Total Assets: $9,292 million
  • Total Loans: $4,962 million
  • Employee Count: 1,380
  • Website: www.ibc.com
Bank of South Texas
  • Year Established: 1986
  • Total Assets: $139 million
  • Total Loans: $98 million
  • Employee Count: 49
  • Website: www.bankofsouthtexas.com
Rio Bank
  • Year Established: 1985
  • Total Assets: $745 million
  • Total Loans: $366 million
  • Employee Count: 184
  • Website: https://riobk.com
Texas National Bank
  • Year Established: 1920
  • Total Assets: $593 million
  • Total Loans: $356 million
  • Employee Count: 116
  • Website: http://texasnational.com
Lone Star National Bank
Citizens State Bank
  • Year Established: 1978
  • Total Assets: $88 million
  • Total Loans: $41 million
  • Employee Count: 31
  • Website: www.csbroma.com
First State Bank
Wallis Bank
  • Year Established: 1972
  • Total Assets: $1,111 million
  • Total Loans: $862 million
  • Employee Count: 174
  • Website: http://www.wallisbank.com
International Bank of Commerce
  • Year Established: 1984
  • Total Assets: $474 million
  • Total Loans: $126 million
  • Employee Count: 89
  • Website: www.ibc.com
Zapata National Bank
  • Year Established: 1961
  • Total Assets: $98 million
  • Total Loans: $34 million
  • Employee Count: 19
  • Website: zapatanationalbank.com

Pennsylvania

Noah Bank
  • Year Established: 2006
  • Total Assets: $317 million
  • Total Loans: $227 million
  • Employee Count: 64
  • Website: www.noahbank.com
Asian Bank
United Bank of Philadelphia
  • Year Established: 1992
  • Total Assets: $64 million
  • Total Loans: $42 million
  • Employee Count: 16
  • Website: http://www.ubphila.com

Puerto Rico

Banco Popular De Puerto Rico
  • Year Established: 1999
  • Total Assets: $64,205 million
  • Total Loans: $20,088 million
  • Employee Count: 6,852
  • Website: http://www.popular.com
Oriental Bank
Firstbank Puerto Rico
  • Year Established: 1949
  • Total Assets: $20,778 million
  • Total Loans: $10,827 million
  • Employee Count: 3,041
  • Website: http://www.1firstbank.com

Washington

Unibank
  • Year Established: 2006
  • Total Assets: $456 million
  • Total Loans: $343 million
  • Employee Count: 54
  • Website: http://www.unibankusa.com

Wisconsin

Bay Bank
  • Year Established: 1995
  • Total Assets: $217 million
  • Total Loans: $70 million
  • Employee Count: 32
  • Website: www.baybankgb.com
Columbia Savings And Loan