Minnesota’s first black-owned bank opens new branch in Minneapolis

The state’s first black-owned bank expands its footprint in the Twin Cities.

First Independence Bank opened in Minneapolis in April. The financial institution now operates from a second location.

The site, located on the 2200 block of East Lake Street, will serve as the bank’s new headquarters and offer a full range of banking services.

Damon Jenkins is the senior vice president of First Independence Bank. He says the expansion is part of an effort to help revitalize the East Lake Street/Hiawatha corridor.

“What excites me the most is being able to bring back a sense of hope, a sense of promise and I think the access and the resources that we plan to provide are really helping this neighborhood and especially this corridor with healing process after everything that’s happened over the past two and a half years,” Jenkins said.

Jenkins says the bank is working to close some of the state’s capital gaps. From personal loans to mortgages, First Independence Bank offers a variety of services.

They are also looking to fill several full-time positions.

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