Redemption and the Dream of Economic Equality

In an update to a story we first reported on two years ago, the 24th black-owned bank, Redemption Bank, Salt Lake City, UT, is no longer a dream, but a reality. The announcement was made, appropriately enough, on June 19th, 2025. Let the dream of economic equality come to fruition.

A list of all other minority banks, as of year-end 2024, can be found below.

Redemption and the Dream of Economic Equality

In 2023, we reported on a Black-led investor group founded by Mr. Ashley Bell, that had announced plans to acquire a non-minority bank, namely, the $65.7 million asset 5-Star Holladay Bank & Trust, Salt Lake City, UT (see blog post). For background, Mr. Bell had worked as an SBA regional Administrator under the first Trump administration, then moved on to help create the National Black Bank Foundation (NBBF): a place for Black-owned banks to access financing.

Mr. Bell found a willing and capable partner—Dr. Bernice A. King, daughter of the late, great, Dr. Martin Luther King, Jr. Bernice King is intent on honoring her father’s call to accelerate financial inclusion by supporting Black banks in what he called the “bank-in movement”.

Appropriately enough, completion of this historic acquisition was announced on Juneteenth (6/19/2025) although the deal was actually completed ten days earlier. The new bank, which will be called Redemption Bank, is just the 24th Black-owned bank operating in the United States; it is the first Black-owned bank between Houston and Los Angeles; and notably, It is the first Black-owned bank in U.S. History “not physically located within an economically vulnerable community.” Dr. King believes, “Redemption will help deliver on my father’s dream of Economic Equality.”

There are currently 151 minority-owned FDIC-insured U.S. Banks. Of those, as of year-end 2024, only 23 were Black (or African-American) owned. All 151 are listed below,  alphabetically by state. The minority Ownership Type is noted to the right and a hyperlink will take you to see the Bauer Star-Rating for each.

Minority Banks by number and location

Certificate # Bank Name City STATE Minority Status by Ownership Type
35314 Alamerica Bank Birmingham AL Black or African American
22229 Commonwealth National Bank Mobile AL Black or African American
57444 American Continental Bank City Of Industry CA Asian or Pacific Islander American
58469 American Plus Bank NA Arcadia CA Asian or Pacific Islander American
33013 Asian Pacific National Bank San Gabriel CA Asian or Pacific Islander American
59296 Bank Irvine Irvine CA Multi-racial American
26610 Bank of Hope Los Angeles CA Asian or Pacific Islander American
20387 Bank of the Orient San Francisco CA Asian or Pacific Islander American
24211 Bank of Whittier N.A. Whittier CA Asian or Pacific Islander American
58037 California Business Bank Irvine CA Asian or Pacific Islander American
57974 California International Bank N.A. Westminster CA Asian or Pacific Islander American
23242 California Pacific Bank Hayward CA Asian or Pacific Islander American
18503 Cathay Bank Los Angeles CA Asian or Pacific Islander American
57417 Commercial Bank of California Irvine CA Hispanic American
57873 Commonwealth Business Bank Los Angeles CA Asian or Pacific Islander American
26363 Community Commerce Bank Claremont CA Hispanic American
19416 CTBC Bank Corp. (USA) Los Angeles CA Asian or Pacific Islander American
31628 East West Bank Pasadena CA Asian or Pacific Islander American
32277 Eastern International Bank Los Angeles CA Asian or Pacific Islander American
34010 Evertrust Bank City Of Industry CA Asian or Pacific Islander American
34496 First Commercial Bank USA Alhambra CA Asian or Pacific Islander American
58060 First General Bank Rowland Heights CA Asian or Pacific Islander American
33103 Gateway Bank F.S.B. Oakland CA Asian or Pacific Islander American
59245 Genesis Bank Newport Beach CA Multi-racial American
24170 Hanmi Bank Los Angeles CA Asian or Pacific Islander American
59314 Icon Business Bank Riverside CA Multi-racial American
59204 Legacy Bank Murrieta CA Native American or Alaskan Native American
58401 Mega Bank San Gabriel CA Asian or Pacific Islander American
25869 Metropolitan Bank Oakland CA Asian or Pacific Islander American
23749 Mission National Bank San Francisco CA Asian or Pacific Islander American
23086 New Omni Bank N.A. Alhambra CA Asian or Pacific Islander American
57944 Open Bank Los Angeles CA Asian or Pacific Islander American
58234 Pacific Alliance Bank San Gabriel CA Asian or Pacific Islander American
57463 PCB Bank Los Angeles CA Asian or Pacific Islander American
33539 Preferred Bank Los Angeles CA Asian or Pacific Islander American
58816 Royal Business Bank Los Angeles CA Asian or Pacific Islander American
23805 United Pacific Bank City Of Industry CA Asian or Pacific Islander American
30722 Universal Bank West Covina CA Asian or Pacific Islander American
58310 US Metro Bank Garden Grove CA Asian or Pacific Islander American
27026 Native American Bank N.A. Denver CO Native American or Alaskan Native American
34352 City First Bank N.A. Washington DC Black or African American
14679 Industrial Bank N.A. Washington DC Black or African American
57931 Anchor Bank Palm Beach Gardens FL Hispanic American
57815 Banesco USA Miami FL Hispanic American
58377 Central Bank Tampa FL Asian or Pacific Islander American
31823 Interamerican Bank a FSB Miami FL Hispanic American
24823 International Finance Bank Miami FL Hispanic American
24156 Ocean Bank Miami FL Hispanic American
34643 Sunstate Bank Miami FL Hispanic American
57369 U.S. Century Bank Miami FL Hispanic American
58584 American Pride Bank Macon GA Asian or Pacific Islander American
16584 Carver State Bank Savannah GA Black or African American
8033 Citizens Trust Bank Atlanta GA Black or African American
58413 Embassy National Bank Lawrenceville GA Asian or Pacific Islander American
34998 First IC Bank Doraville GA Asian or Pacific Islander American
59182 Loyal Trust Bank Johns Creek GA Asian or Pacific Islander American
58181 Metro City Bank Doraville GA Asian or Pacific Islander American
58657 PromiseOne Bank Duluth GA Asian or Pacific Islander American
58687 Touchmark National Bank Alpharetta GA Asian or Pacific Islander American
20884 Bank of Guam Hagatna GU Asian or Pacific Islander American
30692 BankPacific Ltd. Hagatna GU Asian or Pacific Islander American
25158 Finance Factors Ltd. Honolulu HI Asian or Pacific Islander American
18296 Hawaii National Bank Honolulu HI Asian or Pacific Islander American
252 Pinnacle Bank Marshalltown IA Native American or Alaskan Native American
34334 American Metro Bank Chicago IL Asian or Pacific Islander American
10843 Citizens Bank of Chatsworth Chatsworth IL Asian or Pacific Islander American
29399 GN Bank Chicago IL Black or African American
33708 International Bank of Chicago Chicago IL Asian or Pacific Islander American
58348 Millennium Bank Des Plaines IL Asian or Pacific Islander American
13959 CBW Bank Weir KS Asian or Pacific Islander American
20856 Liberty Bank and Trust Company New Orleans LA Black or African American
57134 Leader Bank N.A. Arlington MA Asian or Pacific Islander American
23966 OneUnited Bank Boston MA Black or African American
24015 Harbor Bank of Maryland Baltimore MD Black or African American
20179 First Independence Bank Detroit MI Black or African American
17122 Lake Country Community Bank Morristown MN Asian or Pacific Islander American
1417 Woodlands National Bank Hinckley MN Native American or Alaskan Native American
57884 Paramount Bank Hazelwood MO Multi-racial American
34146 People's Bank of Seneca Seneca MO Native American or Alaskan Native American
31864 Grand Bank for Savings FSB Hattiesburg MS Black or African American
58282 Eagle Bank Polson MT Native American or Alaskan Native American
20568 Lumbee Guaranty Bank Pembroke NC Native American or Alaskan Native American
12266 Mechanics & Farmers Bank Durham NC Black or African American
58586 Turtle Mountain State Bank Belcourt ND Native American or Alaskan Native American
26790 Hana Bank USA N.A. Fort Lee NJ Asian or Pacific Islander American
35151 New Millennium Bank Fort Lee NJ Asian or Pacific Islander American
19904 Centinel Bank of Taos Taos NM Hispanic American
16854 Community 1st Bank Las Vegas Las Vegas NM Hispanic American
32257 Abacus Federal Savings Bank New York NY Asian or Pacific Islander American
27267 Amerasia Bank Flushing NY Asian or Pacific Islander American
30394 Carver Federal Savings Bank New York NY Black or African American
25749 Eastbank N.A. New York NY Asian or Pacific Islander American
58263 Global Bank New York NY Asian or Pacific Islander American
58203 NewBank Flushing NY Asian or Pacific Islander American
59154 Piermont Bank New York NY Multi-racial American
31189 Ponce Bank Bronx NY Hispanic American
34967 Popular Bank New York NY Hispanic American
33188 Shinhan Bank America New York NY Asian or Pacific Islander American
23373 United Orient Bank New York NY Asian or Pacific Islander American
24920 Woori America Bank New York NY Asian or Pacific Islander American
59292 Adelphi Bank Columbus OH Black or African American
28217 Warsaw Federal Savings and Loan Association Cincinnati OH Black or African American
4051 AllNations Bank Calumet OK Native American or Alaskan Native American
57915 Bank of Grand Lake Grove OK Hispanic American
2320 Carson Community Bank Stilwell OK Native American or Alaskan Native American
11521 Chickasaw Community Bank Oklahoma City OK Native American or Alaskan Native American
12761 F&M Bank Edmond OK Native American or Alaskan Native American
17001 First Security Bank and Trust Company Oklahoma City OK Black or African American
14331 FirstBank Antlers OK Native American or Alaskan Native American
15118 Gateway First Bank Jenks OK Native American or Alaskan Native American
2327 Local Bank Hulbert OK Native American or Alaskan Native American
4173 Pauls Valley National Bank Pauls Valley OK Native American or Alaskan Native American
8980 Security State Bank of Oklahoma Wewoka OK Native American or Alaskan Native American
25738 Sovereign Bank Shawnee OK Native American or Alaskan Native American
34759 Asian Bank Philadelphia PA Asian or Pacific Islander American
33802 Tioga-Franklin Savings Bank Philadelphia PA Black or African American
33568 United Bank of Philadelphia Philadelphia PA Black or African American
34968 Banco Popular de Puerto Rico San Juan PR Hispanic American
30387 FirstBank Puerto Rico San Juan PR Hispanic American
59324 Nave Bank San Juan PR Hispanic American
31469 Oriental Bank San Juan PR Hispanic American
35241 Optus Bank Columbia SC Black or African American
10319 Citizens Savings Bank and Trust Company Nashville TN Black or African American
21567 American Bank N.A. Dallas TX Asian or Pacific Islander American
34656 American First National Bank Houston TX Asian or Pacific Islander American
26727 Bank of South Texas Mcallen TX Hispanic American
22657 Citizens State Bank Roma TX Hispanic American
23772 Commerce Bank Laredo TX Hispanic American
26856 Falcon International Bank Laredo TX Hispanic American
11175 First State Bank Abernathy TX Native American or Alaskan Native American
18301 First State Bank Shallowater TX Asian or Pacific Islander American
17881 Freedom Bank Alamo TX Hispanic American
11570 Global One Bank Houston TX Asian or Pacific Islander American
26223 Golden Bank N.A. Houston TX Asian or Pacific Islander American
25679 International Bank of Commerce Brownsville TX Hispanic American
19629 International Bank of Commerce Laredo TX Hispanic American
24961 International Bank of Commerce Zapata TX Hispanic American
24347 Lone Star National Bank Pharr TX Hispanic American
57901 One World Bank Dallas TX Asian or Pacific Islander American
25886 Rio Bank McAllen TX Hispanic American
34319 Southwestern National Bank Houston TX Asian or Pacific Islander American
26708 Spectra Bank Fort Worth TX Asian or Pacific Islander American
27074 State Bank of Texas Irving TX Asian or Pacific Islander American
3337 Texas National Bank Mercedes TX Hispanic American
26351 Unity National Bank of Houston Houston TX Black or African American
20845 Wallis Bank Wallis TX Asian or Pacific Islander American
18454 Zapata National Bank Zapata TX Hispanic American
58407 UniBank Lynnwood WA Asian or Pacific Islander American
34052 Bay Bank Green Bay WI Native American or Alaskan Native American
28480 Columbia Savings and Loan Association Milwaukee WI Black or African American