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Harlem-based Carver Federal Savings Bank has been quietly making money since it opened in 1949. Carver was the first Afro-American financial institution in New York, NY, and is now the only one left in the city. When the 1990 closure of Freedom National Bank of New York set off panic in Harlem, Carver was earning only 0.28% return on assets, but still surviving. Current chairman Moran Weston and others founded the thrift to provide mortgage loans to minorities who could not find loans elsewhere. While Carver has added many services, its success lies in its adherence to that basic mission., When Freedom National Bank of New York failed in 1990, setting off panic in Harlem, another black-owned institution nearby kept quietly plodding along without much fanfare or media attention That [...]

The only black-owned bank in Texas has ambitions of becoming the nation's largest, but it will not be easy for the $51 million-asset Unity National Bank of Houston. Despite being [...]

Of the 42 years that Vernard W. Henley has been president and chief executive officer of Consolidated Bank and Trust Co. in Richmond, Va., the last one has by far [...]

B.E. Board of Economists member David Swinton leads charge in salvaging black bank Talk about putting your money where your mouth is. Fifty investors in South Carolina, led by Benedict [...]

The market applauds how Broadway turned things around Broadway Financial Corp. (NASDAQ: BYFC) hasn't made waves in print. One of the top gainers on the BLACK ENTERPRISE Black Stock Index [...]

In Rural Virginia, a Black-Owned Standout First State Bank in Danville, Va., is more than meets the eye - and not just because it is one of the most profitable [...]

Long shunned by Wall Street, shares of publicly traded African American banks are now some of the nation's best performing stocks. "For various reasons, these stocks have outperformed others," says […]

Fannie Mae deposited $250,000 in New York's Carver Federal Savings Bank as part of the mortgage agency's community development financial institutions initiative. Fannie Mae, formally known as the Federal National [...]

Arco, one of the nation's leading petroleum companies, recently announced it is investing $1 million in California's only Black-owned bank, Founders National Bank of Los Angeles. The move is expected [...]

Shareholders In Bank Bailout Retain a Stake WASHINGTON - The Federal Deposit Insurance Corp. bailed out a bank in Kansas last week - and in an unusual move allowed shareholders [...]

ST. PETERSBURG, Fla. -- Almost all evidence of Century National Bank's eight-year existence was erased in a single night. It began on Sept. 20, the day the Comptroller of the [...]

Bank of Oakland's turnaround cost California its only black-owned bank When the Bank of Oakland accepted an injection of about $1.8 million in capital in April 1986 to keep its [...]

Black-Run Banks Hold Their Own at Home An economist at the Federal Reserve Bank of Dallas has put the earnings problems of black-owned banks in a different perspective by showing [...]