Company: Chickasaw Area Bank, Oklahoma Area, OKEntry Submitted From the: Schnake Turnbo FrankCompany Description: Chickasaw Neighborhood Bank try the full-solution standard bank which provides a diverse variety of examining account, deals account, resource situations, mortgages and lending properties to people and you may people all across the fresh new part. Since , Bauer Economic rated all of us once the a good 5-celebrity financial, and we have been consistently placed in the top fifteen% of the many You.S. financial institutions from the Seifried & Brew LLC.Nomination Group: Providers / Team CategoriesNomination Sandwich Class: Organization of the year – Financial – Average
Nomination Term: Chickasaw People Financial, Oklahoma Urban area, Ok
Chickasaw Community Bank (CCB) is a full-service financial institution for individuals and businesses across the U.S., under the leadership of Native American and African American CEO, T.W. Shannon.
Founded by the Chickasaw Nation and headquartered in Oklahoma City, OK, CCB is a 100% tribe-owned bank with a mission to build better lives for everyone. Rebranded from Bank2 to Chickasaw Community Bank, it serves as a hub for minority and underserved communities and a partner for small businesses. CCB is one of just 17 Native American-had community banks in the U.S. and has grown to $250 million in total assets. As of , Bauer Financial rated CCB a 5-star bank, and it has consistently been placed in the top 15% of all U.S. banks by Seifried & Brew LLC.
Chickasaw Area Lender – Business of the year – Banking
During the 2017, CCB (named Bank2 at that time) financed a great transformational housing endeavor when you look at the Washington state, strengthening 45 housing equipment to have Native American family members trying to sobriety and you may to help you win back youngsters of promote care and attention. CCB offered a multi-million dollar Identity V1 mortgage and you may strolled new Lummi Country by way of the new difficult Name V1 processes, and you will are acquiesced by the fresh U.S. Agency off Homes and you can Metropolitan Creativity.
Chickasaw Society Financial (CCB) finished 2020 that have net income more half dozen-fold the fresh new projections accurate documentation-cracking 12 months from growth amid unmatched volatility on the market and you will discount. Proper preparation and you may believed positioned CCB for that it swell regarding growth in a manner in which couple community financial institutions across the country possess managed. CCB processed the greatest quantity of HUD-184 fund of any financial regarding You.S., and you will employing network from lenders happens to be assisting to complete the newest homeownership gap with Native Us citizens across the country. Such as a wave one to raises the boats, CCB hitched that have surrounding group, Cherokee Country, to fund over 600 rent-to-very own, multi-generational home getting displaced tribal families. CCB as well as demonstrated you to definitely area banks was vital couples getting brief people struggling to get well economically away from COVID’s devastation, and you will fill this new emptiness of these became away because of the huge banking companies. CCB financed almost $twenty-seven billion during the PPP loans in the 2020, that have millions so much more in the techniques, both for clients and you will non-people.
Inside 2020, CCB reached an annual earnings of $10.one million (a growth out of 314% off 2019), overall commercial loans of $127.5 mil (a growth away from %), and increased mortgages from the sixty% out of 2019, reaching $555 mil. To help expand its people resource, the latest bank’s the new Brand Ambassador system to aid produce the second generation out of area engagement comes with Carrie Underwood’s guitarist (an enthusiastic Oklahoma native) although some revealing its individual stories, using CCB since the a patio to simply help others create their show, speciality and you may event.
The bank’s achievements are more than numbers and statistics; they represent a success model for serving customers and systemic opportunity that can be replicated by banks across the U.S. The significance of Chickasaw Community Bank being the #1 bank in the U.S. in providing HUD-184 loans lies in the fact it is the leading bank making the dream of home ownership more accessible to Native Americans nationwide. Numerous studies have shown that Native American housing conditions are substantially worse than other U.S. households. According to Native Western Housing Demands Analysis used of the U.S. Agencies off Housing and you will Urban Development, 17 percent of households in Indian country had one or Rhode Island pay day loan more non-family members staying with them because they had nowhere else to go, and more Native Americans are living in overcrowded, unsound homes that are lacking proper heating and electrical than any other U.S. minority. As CCB is 100% tribal owned, and led by T.W. Shannon, a Chickasaw native, these statistics are deeply personal. Processing the highest volume of HUD-184 loans, building 600+ homes for Chickasaw and Cherokee tribal members and funding millions in PPP and mortgage loans is all about lending a critically-needed hand to people in need. CCB’s achievements since 2019 have not only been the tidal wave of growth of the bank itself, but also its tireless commitment to better the lives of everyone that has created a positive, measurable and lasting impact for Native Americans.
A case study on the fresh You.S. Agencies out-of Houses and Urban Innovation and also the Office away from Native American Apps is actually attached, that provides after that outline regarding transformational houses project Chickasaw Area Bank financed (given that referenced for the treatment for issue: Briefly determine the brand new selected business).
