User:Tom-/unknown/3

From 68.164.14.243 - please move this if you know where it's supposed to go!

From A minority or women-owned financial institution is defined as a commercial bank, a savings and loan or a savings bank owned (51% of common stock) and/or controlled by members of a minority group. Minorities are defined as members of the following groups:

Asians, African-Americans, Hispanics, Native Americans, Women, Multi-ethnic groups.

In the final quarter of 2003, there were 189 minority owned financial institutions (banks and thrifts) in the U.S., up from 183 at the end of 2002 and 185 at the end of 2001.

Assets for all minority-owned financial institutions increased in the last quarter of 2003 to $109.729 billion from $94.357 billion at the end of 2002 and from $84.597 billion at the end of 2001.

Net income for the group totaled $1,203,593,000 in the last quarter of 2003, up from $1,013,489,000 in the final quarter of 2002. Income for 2001 and 2000 totaled $842,398,000 and $705,591,000 respectively. Net income for minority owned banks and thrifts totaled $373,404,000 in 1998.

Minority banks and thrifts tend to serve areas of high social need, as defined by social and economic statistics.

For more information, see: www.minoritybank.com