Chickasaw Community Bank – Business of the season – Financial
Company: Chickasaw Society Bank, Oklahoma Town, OKEntry Filed By the: Schnake Turnbo FrankCompany Breakdown: Chickasaw Area Financial try an entire-solution standard bank that provides a diverse variety of examining levels, deals levels, financing situations, mortgages and you may credit characteristics to prospects and you may organizations all across the brand new area. At the time of , Bauer Financial rated all of us once the a beneficial 5-superstar lender, and we have been continuously placed in the top 15% of all You.S. financial institutions from the Seifried & Produce LLC.Nomination Class: Company / Business CategoriesNomination Sub Category: Team of the year – Financial – Typical
Nomination Term: Chickasaw Area Financial, Oklahoma Town, Ok
Chickasaw Society 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 Indigenous Western-owned 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 Financial – Organization of the year – Banking
From inside the 2017, CCB (called Bank2 at that time) funded a transformational housing venture when you look at the Washington state, strengthening 45 homes gadgets to have Indigenous Western household trying sobriety and you will to win back youngsters away from promote care. CCB considering a multiple-million dollars Name V1 financing and walked new Lummi Nation as a consequence of the latest tricky Label V1 process, and you may was recognized by the latest U.S. Agencies out of Property and you will Urban Development.
Chickasaw Neighborhood Financial (CCB) complete 2020 which have net income over half a dozen-fold the brand new forecasts an archive-cracking year out-of growth in the midst of unmatched volatility in the industry and you will benefit. Strategic preparation and you can planning organized CCB for this enlarge from development in a way that couples society banking companies nationwide possess treated. CCB canned the greatest volume of HUD-184 financing of every lender on You.S., and through its community out of loan providers is now assisting to complete the brand new homeownership pit which have Indigenous People in america nationwide. Such as for instance a tide one to brings up the ships, CCB partnered that have nearby group, Cherokee Country, to pay for more than 600 book-to-very own, multi-generational house for displaced tribal parents. CCB plus presented one to neighborhood banking institutions are vital lovers to possess small enterprises unable to recover financially regarding COVID’s devastation, and you may fill brand new emptiness for these turned away by large finance companies. CCB funded almost $27 million from inside the PPP money within the 2020, which have millions way more during the process, both for readers and you may low-customers.
Into the 2020, CCB achieved an annual money from $ten.1 million (an increase out-of 314% of 2019), full industrial fund off $127.5 mil (an increase away from %), and enhanced mortgages because of the 60% from 2019, interacting with $555 billion. To advance its neighborhood capital, the newest bank’s the brand new Brand name Ambassador system to aid create the second age bracket out of neighborhood engagement comes with Carrie Underwood’s beginner guitarist (an Oklahoma native) while some discussing its personal reports, using CCB since a deck to simply help someone else build their efficiency, speciality and you will knowledge.
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 online installment loans Maine 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 American Houses Demands Study conducted from the You.S. Company of Property and you will Urban Advancement, 17 percent of households in Indian country had one or 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 learn from the newest U.S. Department out-of Construction and you can Urban Creativity additionally the Workplace out of Indigenous American Software is connected, which provides subsequent detail regarding the transformational homes endeavor Chickasaw Neighborhood Lender funded (since the referenced from inside the means to fix practical question: Temporarily describe the brand new nominated business).