In the second quarter of 2005, there were 194 minority owned financial institutions (banks and thrifts) in the U.S., down from 196 at the end of 2004
In the second quarter of 2005, there were 194 minority owned financial institutions (banks and thrifts) in the U.S., down from 196 at the end of 2004. The number of minority institutions totaled 189 at the end of 2003.
Assets for all minority-owned financial institutions increased in the second quarter of 2005 to $171.210 billion from $160.520 billion at the end of 2004 and from $84.597 billion at the end of 2001.
Net income for the group totaled $1,921,019,000 in 2004, up from $1,203,593,000 in 2003. Income for 2001 and 2000 totaled $842,398,000 and $705,591,000 respectively. Net income for minority owned banks and thrifts totaled $373,404,000 in 1998.
In 2004, income per minority institution grew to $9.9 million from the $6.1 million average reported at the end of 2003. Income per minority institution was $3.6 million at the end of 1999. We note this figure was distorted by Asian and Hispanic institutions.
Return on assets (ROA)
ROA for all insured commercial banks and savings institutions averaged 1.29% in the fourth quarter of 2004. This compares to a minority commercial bank and savings institution average ROA of 0.84% at the end of 2004, up from 0.65 in 2003.
Asian Thrifts and Banks
There are seventy-four Asian thrifts and banks in the U.S.
Black Thrifts and Banks
There are forty eight African-American banks & thrifts in the database.
Hispanic Thrifts and Banks
A total of forty three Hispanic institutions are in the database, up from thirty-four in 2002.
Three Multi-Ethnic Banks are in the database.
There are twenty one Native American banks are in the database currently. .
Women-owned Thrifts and Banks
Eight Women-owned banks are in the database.
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William Michael Cunningham
- A.M.(Industrial Organization)
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