At the start of 2009, there were 239 minority owned financial institutions (banks and thrifts) in the U.S., up from 231 at the end of 2007. The number of institutions totaled 182 at the end of 2000.

Assets for all minority-owned financial institutions increased in 2008 to $214.326 billion from $160.520 billion at the end of 2004 and from $74.192 billion at the end of 2000.

Net income for the group became negative at the start of 2009, following general banking trends. In the second quarter of 2008, industry net income fell to $5 billion. This was, according to the FDIC, the lowest level for aggregate industry income since 1991.

Minority bank net income was ($419) million in 2008. In 2007, minority banks recorded positive income of $876,324,000 and recorded positive income of $137,914,000 ($275.828 million on an annualized basis) in the first six months of 2008. Minority institution net income peaked at $1.921 billion in 2004.

Return on assets (ROA)

Return on asset (ROA) and return on equity patterns weakened for all minority owned institutions in 2008. In 2008, minority financial institutions continued to underperform the banking sector generally: according to FDIC statistics, ROA for all insured commercial banks and savings institutions averaged 0.08% in 2008. This compares to a minority commercial bank and savings institution average ROA of -0.88% at the end of 2008, down from -0.04 at the end of 2007.

Asian Thrifts and Banks

There are ninety nine Asian thrifts and banks in the U.S.

Black Thrifts and Banks

There are forty four African-American banks & thrifts in the database.

Hispanic Thrifts and Banks

A total of sixty Hispanic institutions are in the database, up from thirty-four in 2002.

Multi-Ethnic Banks

Four Multi-Ethnic Banks and Thrifts are in the database.

Native-American Banks

There are twenty two Native American banks in the database.

Women-owned Thrifts and Banks

Ten Women-owned banks are in the database.

Posted for research purposes only. Copyright, CIR & WMC. 2009. For more information, contact us at info@creativeinvest.com or call 866-867-3795.

TO GET THE FULL LIST OF RANKINGS FOR OVER 190 MINORITY OWNED BANKS AND THRIFTS SEE: http://www.minorityfinance.com/cirm12.html.

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