A series of alleged loan defaults by a New Mexico businessman and his family have drawn multiple banks into lawsuits over the past several years. The most significant dispute involves approximately $37 million in loans from KS StateBank that were…
The Vanishing Community Banks
After years of financial deterioration and severe undercapitalization, regulators closed Kentland Federal Savings & Loan, the nation’s smallest bank. That failure was followed by the closure of $73 million asset Small Business Bank. Both were zero-star banks and the closures…
De Novo Banks Gain Momentum—But Not All Are Community Banks
FDIC-Insured Minority Depository Institutions, Helping Their Communities Prosper
Since the beginning (250 years ago), the United States has seen banks come and go. It was not until the late 1800s, however, that marginalized minority communities began pooling their money together to open their own banks. Today we celebrate Maggie…