In 2025, Redemption Holding Co. finalized a historic Utah acquisition, taking control of Holladay Bank & Trust and becoming the first Black-led investment group to own a bank in a Western U.S. state. While the newly formed financial institution stands out because of its ownership, it also holds the distinction of being the first African-American-led bank in American history that it not physically located within an economically vulnerable community. Redemption Bank also stands only in the Rockies and helps f ...

Core Insights - Ponce Bank celebrated the grand opening of its new branch in Inwood, Upper Manhattan, emphasizing its commitment to providing accessible banking services in New York City [1][4] - The event was attended by community leaders and local officials, highlighting the bank's role in supporting small businesses and families in the area [2][3] - Ponce Bank aims to serve the Inwood community with dignity and care, focusing on economic justice and equitable access to financial opportunities [3] Company Overview - Ponce Bank was founded in 1960 in the Bronx and currently operates 13 branches in the New York Metro area, with total assets of $3.2 billion and over $500 million in capital [5] - The bank is recognized as one of the largest Latino-led Minority Depository Institutions (MDIs) and Community Development Financial Institutions (CDFIs) in the nation [5] - Approximately 75% of Ponce Bank's loans are directed towards low- and moderate-income neighborhoods, ranking it 1 among the 20 largest CDFI banks with a housing focus in assets, deposits, and lending [5]