A guide to America’s 20 Black-owned brick-and-mortar banks

Black-owned banks in the United States have seen their ups and downs. From the founding of the Freedman’s Bank in 1865, designed to help newly freed Black Americans establish financial footing, to today, the presence of Black banks has ebbed and flowed alongside economic shifts and challenges to their existence. 

At their height, the number of Black banks in America exceeded 100. That number fluctuated, with Black banks taking big hits during the Great Depression, the savings and loan crisis of the 1980s, and the Great Recession in the 2000s. While the Civil Rights era saw a resurgence in the number of Black banks established in the U.S., today 20 remain. Collectively, they hold nearly $7 billion in assets. 

Black banks have played a major role in providing credit when other banks would not. They also make it more possible for the Black dollar to circulate within the community. In addition to financial literacy programs and community involvement, Black banks offer a banking experience that other banks cannot. 

While there is a growth in the number of digital banking options focused on Black America, there are many brick-and-mortar banks still serving their communities. Check out the list to see if any are in your region, or offer online banking options for customers around the country.

Citizens Bank 

Founded: 1904
Locations: Nashville and Memphis, Tenn.
Assets: $111 million


First Security Bank 

Founded: 1903
Locations: Iowa
Assets: $50 million

Mechanics & Farmers Bank 

Founded: 1907
Locations: North Carolina
Assets: $309 million

OPTUS Bank 

Founded: 1921
Locations: Columbia, S.C.
Assets: $187 million

Citizens Trust Bank 

Founded: 1921
Locations: Georgia and Alabama
Assets: $572 million 

Columbia Savings & Loan 

Founded: 1924
Locations: Milwaukee
Assets: $24 million

Carver State Bank 

Founded: 1927
Locations: Savannah, Ga.
Assets: $52 million

GN Bank 

Founded: 1934
Locations: Chicago
Assets: $99 million

Industrial Bank 

Founded: 1934

Locations: New Jersey, New York, and Washington, D.C.

Assets: $560 million

City First Bank 

Founded: 1946
Locations: Los Angeles
Assets: $481 million

Tri-State Bank

Founded: 1946
Locations: Memphis, Tenn.
Assets: $103 million

Carver Federal Savings Bank 

Founded: 1948
Locations: New York City
Assets: $687 million

Unity National Bank 

Founded: 1963
Locations: Georgia and Texas
Assets: $183 million

OneUnited Bank 

Founded: 1968
Locations: California, Florida, and Massachusetts
Assets: $666 million

First Independence Bank 

Founded: 1970
Locations: Detroit
Assets: $287 million

Liberty Bank 

Founded: 1972
Locations: Alabama, Illinois, Kansas, Kentucky, Louisiana, Michigan, Mississippi, and Missouri
Assets: $765 million

Commonwealth National Bank 

Founded: 1976
Locations: Mobile, Ala.
Assets: $54 million

The Harbor Bank of Maryland 

Founded: 1982
Locations: Maryland
Assets: $322 million

United Bank of Philadelphia 

Founded: 1992
Locations: Philadelphia
Assets: $55 million

Alamerica Bank 

Founded: 2000
Locations: Alabama
Assets: $16 million