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Washington D.C.’s Independence Federal to Acquire Colombo Bancshares

Hoping to boost its profitability, Washington, D.C.-based Independence Federal Savings Bank (No. 14 on the B.E. Banks list with $150.9 million in assets) plans to acquire Colombo Bancshares Inc. of Rockville, Maryland in a stock deal valued at roughly $4.8 million.

Lending Money to Friends and Family

It is part of the African American spirit to help our friends and family who are in need. In this economy, that often means loaning money to someone you care about. If you’re not careful, however, you could also be creating a difficult situation for yourself, both financially and personally.

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