Although Georgia is home to one of the most recognized African-American-owned banks in the country, the state’s banking landscape is becoming as diverse as its population.
According to this week’s Atlanta Business Chronicle, nearly 100 years ago, Citizens Trust Bank opened its doors on Auburn Avenue after the bank’s first chairman of the board, Herman E. Perry, tried to be fitted for a pair of socks at a white-owned store and was refused.
While Georgia’s minority-owned banks initially took flight to serve the African-American community, the need to serve other demographics has evolved as Georgia’s ethnic populations continue to shift and banking needs change.
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