2 Black Owned Banks Merge Together
Written by DJ Sight on August 29, 2020
With all the tragedies happening this year there’s also history being made .
A black owned bank in Los Angeles is merging with another black owned bank in Washington DC that will increase resources for funding and be the first step towards expanding low-income banking opportunities.
City First Bank and Broadway Federal Bank announced their merger on Wednesday. Combined the lenders said they would have more than $1 billion dollars in assets.
City First Bank president and CEO Brian Target said he expects the banks complete their merger by early next year.
It’s FUBU all over again “For Us By Us”.
