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Founded in May 1970, the Detroit institution remains one of only two banks headquartered in Motor City and the only Black-owned bank headquartered in the entire state of Michigan. Although it has ...
Hancock Bank acquired Baton Rouge, Louisiana-based American Bank of Baton Rouge in 1990; Washington Bank and Trust Co. of Franklinton, Louisiana for $15 million in 1994; [4] and American Security Bank based in Ville Platte, Louisiana in 1999, raising assets to $3 billion. [5]
Like many Black-owned financial institutions, this bank was founded because minority consumers were not gaining access to the funding they needed. In April of 2021, Broadway Federal Bank merged ...
First Bank and Trust's parent company, First Trust Corporation, also holds affiliated subsidiaries FBT Investments, [3] FBT Advisors and First Insurance Agency. First Bank and Trust is state chartered and Federal Deposit Insurance Corporation -insured with approximately $1 billion in assets as of March 30, 2020.
In 2004, the bank acquired Business Bank of Baton Rouge, Louisiana, and Premier Bank of Brentwood, Tennessee. [6] In 2005, the bank acquired American State Bank of Jonesboro, Arkansas. [7] In October 2006, the bank acquired City Bancorp of Springfield, Missouri, for $170 million with half consisting of BancorpSouth stock and the remainder in ...
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