Search

ALT A REVIEW: Black Owned Banks City First and Broadway Financial Corp merge to form largest Black..


CFBanc Corporation (“City First”) in Washington, DC and Broadway Financial Corporation (“Broadway,” Nasdaq: BYFC) in Los Angeles, CA announced today that they have entered into a transformational Merger of Equals agreement to create the largest Black-led Minority Depository Institution (MDI) in the nation with more than $1 billion in combined assets under management and approximately $850 million in total depository institution assets (as of June 30, 2020). Combining the two institutions will increase their collective commercial lending capacity for investments in multifamily affordable housing, small businesses, and nonprofit development in financially underserved urban areas, while creating a national platform for impact investors.


Read the article at alt-africa.com