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Share: Wells Fargo & Co (NYSE: WFC) has announced equity investments in five Black-owned banks as part of its pledge of investing up to $50 million in Black Minority Depository Institutions (MDIs). What Happened: The San Francisco-headquartered financial institution’s investments were aimed at two Georgia-based banks  Carver State Bank in Savannah and Citizens Trust Bank in Atlanta  plus First Independence Bank in Detroit, Liberty Bank in New Orleans and Unity National Bank in Houston. This is Wells Fargo’s second round of investments in the MDIs. In February, the company announced investments in Broadway Federal Bank in Los Angeles, Carver Federal Savings Bank in New York City, Citizens Savings Bank & Trust in Nashville, Commonwealth National Bank in Mobile, Alabama, M&F Bank in Durham, North Carolina, and Optus Bank in Columbia, South Carolina.

New yorkUnited statesNorth carolinaSouth carolinaLos angelesWilliam daleyBroadway federal bankFirst independence bankVirginia true reformers bankUnity national bankOptus bankCommonwealth national bankCarver state bankMf bankCitizens savings bank trust in nashvilleWells fargo