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The bank closed in 1932 but was reorganized and reopened by Howard University alumnus Jesse Mitchell in 1934. [3] By 1947 the bank had $6 million in assets from over 14,000 depositors, more than 20% of whom were white. This made it the largest black-owned bank in the U.S.
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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 ...
Carver Federal Savings, however, is the largest and oldest continually Black-operated U.S. bank. Founding Officers, Carver Federal Savings & Loan Association, New York City, 1948. M. Moran Weston already had earlier experience as the 1945-founder of a credit union , and, for Carver, had a supporting team of 14.
The bank was founded in 1998 under the holding company Eagle Bancorp Inc, which was established in 1997 [2] by Ronald D. Paul, a longtime banking executive. [3] Eagle Bancorp, Inc., was incorporated as a bank holding company in \Maryland on October 28, 1997. [ 1 ]
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