Five Minority-Owned Banks You Should Know About
January 9, 2013 8:00 AM
Alvin Kang, the CEO of BBCN, has created the nation's biggest Korean-American bank . Here are five noteworthy examples of banks where minorities own more than 51% of outstanding shares…
Cathay Bank, Los Angeles
The $10.6 billion-asset bank is the only Asian-American bank larger than BBCN. Some industry experts have pegged Cathay as a target for Chinese banks interested in U.S. expansion. (Image: Shutterstock )
International Bank of Commerce, Laredo, Texas
The bank is the largest Hispanic-owned bank in the continental United States, at $10.1 billion in assets. Its parent company, led by Dennis Nixon, recently exited the Troubled Asset Relief Program .
Carver Federal Savings Bank, New York
Carver remains the nation's biggest African-American owned bank, with $638 million in assets. Led by Deborah Wright, the bank is poised to return to profitability .
Sunflower Bank, Salina, Kan.
Family owned, Sunflower is listed by the Office of the Comptroller of the Currency as a women-owned bank. The $1.7 billion-asset bank was founded in 1892. (Image: Thinkstock)
Lumbee Guaranty Bank, Pembroke, N.C.
Incorporated in 1971, Lumbee Guaranty was the nation's first Native American owned bank. The FDIC still lists the $325 million-asset bank as the nation's biggest bank owned by Native Americans. (Image: Shutterstock )
