NEW YORK – The NFL is expanding its commitment to support diverse enterprises across the country to help drive economic opportunity in underserved communities.
Last year, the league secured $78 million in funding from 16 Minority Depository Institutions (MDIs), Community Development Financial Institutions (CDFIs), and minority- and women-focused lenders. Today, the league has doubled down on its commitment by securing an additional $21 million in loans from 10 additional banking partners, totaling $99 million in funding from 26 institutions in the last two years.
“The NFL is committed to closing the economic opportunity gap by providing underrepresented community banks broader visibility and opportunities typically only available to larger financial institutions,” said Christine Dorfler, chief financial officer of the NFL in a press release. “We see this initiative as an investment in our fans and communities across underrepresented regions of the country. Because of this initiative, organizations and individuals who may not have access to capital will have an opportunity to finance their dreams and ambitions.”
In partnership with Bank of America, the NFL identified financial institutions dedicated to providing essential investments to a diverse range of individuals, businesses, and communities to help drive economic progress and opportunity.
“The ‘Impact Banking’ Movement is growing thanks to partners like the NFL that are banking with their values,” said Ashley Bell, co-founder of National Black Bank Foundation. “By including cornerstone institutions of culture and community in these transactions, community-based banks are stronger and better equipped to fulfill their missions: to extend hope and credit to neighborhoods that have relied on them through the years.”
This year’s new banking partners include:
- Piermont Bank (MDI, Asian American Women-owned and led in New York, NY)
- Nave Bank (MDI, Hispanic Owned in San Juan, PR)
- Legacy Bank (MDI, Black or African American Owned in Murrieta, CA)
- Carver Federal Savings Bank (MDI, Black or African American Owned in New York, NY)
- Commonwealth National Bank (MDI, Black or African American Owned in Mobile, AL)
- Carver State Bank (MDI, Black or African American Owned in Savannah, GA)
- Anchor Bank (MDI and CDFI, Hispanic Owned in Palm Beach Gardens, FL)
- Liberty Bank & Trust Co. (MDI, Black or African American Owned in New Orleans, LA)
- Tioga-Franklin Savings Bank (MDI in Philadelphia, PA)
- Alamerica Bank (MDI, Black or African American Owned in Birmingham, AL)
In 1972, Liberty Bank and Trust Company was chartered in New Orleans, Louisiana, with a focus on service, integrity and a sincere interest in community and business development. Over five decades later, Liberty Bank and Trust has over $1 billion in assets and branches in 11 states making it the largest black or African American owned financial institution in the United States.
Liberty Bank’s growth has been the result of acquisitions, fruitful partnerships, aggressive marketing, strong management, staff productivity and the trust it enjoys in the community. It all adds up to an efficient, well-capitalized institution that is perfectly positioned to continue fast-paced growths in both profits and assets.
Liberty Bank established its Baton Rouge presence in 1994 and opened a third branch in 2004. Liberty then moved into Mississippi in 2003, acquiring First American Bank in Jackson. This was followed by expansion into the Greater Kansas City market with the acquisition of Douglass bank in Kansas City, Kansas, and Kansas City, Missouri, in 2008.
Liberty Bank and Trust Company expanded across Greater New Orleans with the 2009 acquisition of United Bank and Trust Company, securing four additional locations to serve that market. That was followed by the acquisition of Home Federal Savings in Detroit, Michigan, which increased the bank’s reach to six states. In 2013, Liberty Bank entered the Chicago market with the acquisition of Covenant Bank of Illinois, and in 2015, the bank expanded to Montgomery and Tuskegee, Alabama through the purchase of First Tuskegee Bank. In 2020 Liberty Bank and Trust expanded into Louisville, KY through the acquisition of Metro Bank, and in 2021 entered the Memphis, TN market by acquiring Tri-State Bank of Memphis making Liberty Bank one of the largest black-owned banks in the U.S.
The NFL continues to make headway in its commitment to advancing inclusion and opportunity across the League, its clubs, and communities. Recently, the NFL announced the rollout of NFL Source, an evolution of the league’s supplier diversity commitmentswhich seek to standardize how the NFL and its partners support working with underrepresented businesses locally and nationally, year-round. To learn more about the program and to join the NFL’s directory, visit source.nfl.com.
