May 10th, 2009
Forged in Fire: The New Rules of Doing Business
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The crucial need to increase capital, reach more customers, and continue to grow prompted a number of banks to seek help from the federal government. At least six black-owned banks received nearly $60 million in new capital from the U.S. Treasury Department’s Troubled Asset Relief Program. At New Orleans-based Liberty Bank and Trust Co. (No. 5 on the BE Banks list with $372.7 million in assets), the bank’s president, Alden McDonald Jr., says his bank plans to use $5.6 million in TARP capital to boost lending. Though his bank’s assets grew 16% in 2008, profits plunged 24%. Liberty won a bid last year to take over Kansas City, Missouri-based Douglass National Bank; the deal added about $50 million in assets but cut profits, largely because of expenses tied to the purchase.
continue reading »This Year |
Last Year |
Company |
Location |
Chief Executive |
Staff |
Assets (M) |
Capital (M) |
Deposits (M) |
Loans (M) |
1 | 1 | New York, NY | Deborah C. Wright | 160 | $789.9 | $48.1 | $621.5 | $631.1 |
|
2 | 2 | Boston, MA | Kevin Cohee | 110 | $636.0 | $40.5 | $388.0 | $370.0 |
|
3 | 3 | Newark, NJ | Louis E. Prezeau | 103 | $495.0 | $28.1 | $407.1 | $271.9 |
|
4 | 4 | Los Angeles, CA | Paul C. Hudson | 85 | $407.9 | $32.7 | $289.9 | $357.8 |
|
5 | 8 | New Orleans, LA | Alden J. McDonald Jr. | 118 | $372.7 | $27.6 | $335.9 | $175.9 |
|
6 | 7 | Washington, D.C. | B. Doyle Mitchell Jr. | 140 | $363.9 | $22.2 | $290.0 | $209.5 |
|
7 | 5 | Chicago, IL | Walter E. Grady | 242 | $363.0 | $36.0 | $315.0 | $196.0 |
|
8 | 6 | Atlanta, GA | James Young | 127 | $348.1 | $33.7 | $281.9 | $282.1 |
|
9 | 10 | Atlanta, GA | George G. Andrews | 105 | $302.0 | $22.4 | $270.0 | $233.4 |
|
10 | 9 | Baltimore, MD | Joseph Haskins Jr. | 80 | $285.0 | $26.0 | $245.5 | $211.1 |
|
11 | 11 | Durham, NC | Kim D. Saunders | 86 | $270.3 | $25.280 | $217.4 | $208.6 |
|
12 | - | Lake Mary, FL | Robert L. Johnson Daniel C. Fischer | 128 | $249.8 | $16.5 | $206.9 | $191.0 |
|
13 | 13 | Milwaukee, WI | Deloris Sims | 37 | $224.5 | $19.2 | $189.8 | $181.9 |
|
14 | 14 | Washington, D.C. | John A. Hall | 34 | $183.8 | $8.8 | $150.8 | $135.0 |
|
15 | 12 | Detroit, MI | Donald Davis | 54 | $161.1 | $15.3 | $112.5 | $88.4 |
|
16 | 16 | Chicago, IL | Norman J. Williams | 43 | $143.9 | $15.1 | $91.1 | $104.7 |
|
17 | 15 | Memphis, TN | Jesse H. Turner Jr. | 68 | $119.7 | $15.3 | $96.6 | $85.3 |
|
18 | 17 | Chicago, IL | Dennis J. Irvin | 44 | $111.7 | $11.9 | $90.5 | $72.5 |
|
19 | 20 | Milwaukee, WI | Erbert Johnson | 23 | $93.8 | $8.2 | $51.1 | $74.0 |
|
20 | 22 | Columbia, SC | Clente Flemming | 45 | $78.9 | $7.0 | $71.7 | $66.6 |
|
21 | 18 | Tuskegee, AL 36083 | Neill S. Wright | 33 | $78.4 | $6.3 | $66.4 | $54.5 |
|
22 | 24 | Baltimore, MD | John M. Hamilton | 39 | $76.0 | $9.2 | $57.7 | $62.0 |
|
23 | 25 | Mobile, AL | Tyrone Fenderson Jr. | 28 | $73.6 | $5.7 | $65.9 | $29.9 |
|
24 | 22 | Philadelphia, PA | Evelyn F. Smalls | 27 | $69.5 | $7.9 | $61.1 | $48.7 |
|
25 | 21 | Nashville, TN | Deborah A. Cole | 24 | $68.9 | $7.5 | $59.2 | $59.3 |
|
(M) = Millions; (B) = Billions | |||||||||
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