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Top Ten minority owned banks in the US

Below, we feel, are the best minority owned banks in the US (as of 6/30/08):

LIBERTY BANK & TRUST CO, New Orleans, LA (Black)
INDUSTRIAL BANK, Washington, DC (Black)
MECHANICS & FARMERS BANK, Durham, NC (Black)
CITIZENS SECURITY BK GQ INC, Guam, GU (Asian)
CENTRAL BANK OF KANSAS CITY, Kansas City, MO (Women)
BROADWAY FEDERAL BANK F S B, Los Angeles, CA, (Black)
BANCO SANTANDER PUERTO RICO, San Juan, PR (Hispanic)
UNITED BANK OF PHILADELPHIA, Philadelphia, PA, (Black)
CARVER STATE BANK, Savannah, GA, (Black)
NORTH MILWAUKEE STATE BANK, Milwaukee, WI (Black)

Yes, we know there are a lot of Black-owned banks on the list. Here's why:
Black banks have always had relatively higher levels of nonperforming loans, so they know better (than, say WAMU) how to survive with these types of loans on the books. We think this skill will serve them well in the current credit cycle. Thus, they are rated a little higher than other minority banks.

We think smaller banks will do well over this part of the credit cycle:
1. They should be able to gain deposits from the big guys.
2. They did not make a lot of subprime loans, so they should have relatively fewer loan defaults.
3. They did not buy a lot of CDO Swaps, or other derivative products.

One cautionary note: if a small bank gets in trouble, it will go down quickly (see: Douglass National Bank of Kansas City). Keep an eye out...(or ask us to do so for you...)

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