All banks are listed by state. In order to be listed in our directory the bank must have at least 51 percent African American ownership. You can click on the bank name to go directly to their website.
bank_men
(Founders of Merchants & Farmers Bank in Durham, North Carolina)
OTHER KEY FINDINGS:
  • AAOBs are in 17 states and territories. Key states absent are Florida, Mississippi, New York, and Ohio.
  • Alabama, Georgia, Illinois, Tennessee, and Wisconsin each have two AAOBs.
  • 2016 Median AAOBs Aseets: $107 551 000 ($113 470 000)*
  • 2016 Average AAOBs Assets: $210 292 000 ($233 583 000)*
  • African American bank assets saw a 1.2 percent decrease or net loss of approximately $57 million in assets in 2015.
  • AAOBs control 0.03 percent of America’s $15.7 trillion Bank Owned Assets.
  • AAOBs control 2.3 percent of FDIC designated Minority-Owned Bank Assets, which is down from 2.6 percent in 2015.
  • There has not been an AAOB started in 16 years.
  • Only 8 of 2016’s 22 AAOBs saw increases in assets.
  • For comparison, Asian American Owned Banks have approximately $46.1 billion in assets spread over 68 institutions. They control 6.0 percent of Asian America’s buying power.
*Previous year in parentheses
There are 22 African American owned banks (AAOBs) with assets totaling approximately $4.6 billion in assets or approximately 0.43 percent of African America’s $1.1 trillion in buying power.

ALABAMA

Location: Birmingham, Alabama
Founded: January 28, 2000
FDIC Region: Atlanta
Assets: $35 476 000
Asset Change (2015): Down 13.4%
Location: Mobile, Alabama
Founded: February 19, 1976
FDIC Region: Atlanta
Assets: $56 501 000
Asset Change (2015): Down 3.8%

CALIFORNIA

Location: Los Angeles, California
Founded: February 26, 1947
FDIC Region: San Francisco
Assets: $402 902 000
Asset Change (2015): Up 16.6%

DISTRICT OF COLUMBIA

Location: Washington, DC
Founded: August 18, 1934
FDIC Region: New York
Assets: $388 951 000
Asset Change (2015): Up 6.5%

GEORGIA

Location: Savannah, Georgia
Founded: January 1, 1927
FDIC Region: Atlanta
Assets: $42 174 000
Asset Change (2015): Down 2.5%
Location: Atlanta, Georgia
Founded: June 18, 1921
FDIC Region: Atlanta
Assets: $387 897 000
Asset Change (2015): Down 3.2%

ILLINOIS

Location: Chicago, Illinois
Founded: January 01, 1934
FDIC Region: Chicago
Assets: $101 291 000
Asset Change (2015): Down 10.7%
Location: Chicago, Illinois
Founded: January 02, 1965
FDIC Region: Chicago
Assets: $369 544 000
Asset Change (2015): Down 29.3%

LOUISIANA

Location: New Orleans, Louisiana
Founded: November 16, 1972
FDIC Region: Dallas
Assets: $604 163 000
Asset Change (2015): Up 9.4%

MARYLAND

Location: Baltimore, Maryland
Founded: September 13, 1982
FDIC Region: New York
Assets: $285 246 000
Asset Change (2015): Up 22.1%

MASSACHUSETTS

Location: Boston, Massachusetts
Founded: August 02, 1982
FDIC Region: New York
Assets: $648 615 000
Asset Change (2015): Up 4.6%

MICHIGAN

Location: Detroit, Michigan
Founded: May 14, 1970
FDIC Region: Chicago
Assets: $216 821 000
Asset Change (2015): Down 12.3%

NEW JERSEY

Location: Newark, New Jersey
Founded: June 11, 1973
FDIC Region: New York
Assets: $250 095 000
Asset Change (2015): Down 12.9%

NORTH CAROLINA

Location: Durham, North Carolina
Founded: March 01, 1908
FDIC Region: Atlanta
Assets: $298 014 000
Asset Change (2015): Up 3.0%

PENNSYLVANIA

Location: Philadelphia, Pennsylvania
Founded: March 23, 1992
FDIC Region: New York
Assets: $59 001 000
Asset Change (2015): Down 2.5%

SOUTH CAROLINA

Location: Columbia, South Carolina
Founded: March 26, 1999
FDIC Region: Atlanta
Assets: $52 995 000
Asset Change (2015): Down 14.2%

TENNESSEE

Location: Nashville, Tennessee
Founded: January 4, 1904
FDIC Region: Dallas
Assets: $104 060 000
Asset Change (2015): Up 5.1%
Location: Memphis, Tennessee
Founded: December 16, 1946
FDIC Region: Dallas
Assets: $111 042 000
Asset Change (2015): Down 12.3%

TEXAS

Location: Houston, Texas
Founded: August 01, 1985
FDIC Region: Dallas
Assets: $83 327 000
Asset Change (2015): Up 10.3%

VIRGINIA

Location: Danville, Virginia
Founded: September 08, 1919
FDIC Region: Atlanta
Assets: $37 612 000
Asset Change (2015): Down 4.1%

WISCONSIN

Location: Milwaukee, Wisconsin
Founded: January 1, 1924
FDIC Region: Chicago
Assets: $23 684 000
Asset Change (2015): Down 2.7%
Location: Milwaukee, Wisconsin
Founded: February 12, 1971
FDIC Region: Chicago
Assets: $67 115 000
Asset Change (2015): Down 13.0%