Independent Banker - July 2023 - 72

on the lending side and on the
borrowing side. "
Damon Jenkins, SVP,
regional market
president - Twin
Cities, with Kenneth
Kelly near the Lake
Street branch
In addition to consumer
banking and loan services, First
Independence Bank offers business
services, including banking for
both private sector businesses and
public-sector entities, commercial
real estate loans, secured lines of
credit and SBA loans. With just
3% of all U.S. companies owned
by African Americans, according
to Pew Research, these are
much-needed resources.
" We've got to be available and go out and get
the work done to be attractive to customers on
the lending side and on the borrowing side. "
-KENNETH KELLY, FIRST INDEPENDENCE BANK
A catalyst for change
Kelly strongly believes that
the murder of George Floyd in
Minneapolis in May 2020 must be
a catalyst for change and that First
Independence Bank should be part
of that.
Independence Bank has received has
been " heartwarming. "
" We're excited about the potential
opportunities, " he says. " That's
the reason we moved there. ... The
lieutenant governor was there for
the grand opening, along with the
mayor of St. Paul and the mayor of
Minneapolis, to be supportive of this
effort. We've gotten support from the
senators of the state. The governor
wrote the supporting note on behalf
of our opening there in the state, so
there's strong political will, and there
was strong community support. "
Keeping it local
When First Independence Bank
moved into the Twin Cities market,
leadership made it clear that they
wanted to hire members of the
local community to work there. The
response, again, was enthusiastic.
" In Minneapolis, because of our
movement there as an African
American institution, we have seen
more African Americans who have a
desire to work with us, " Kelly says.
For now, the task ahead of the
bank, he says, is the " blocking and
tackling of the day-to-day tasks,
delivering superior customer service
and being attractive to customers who
have not banked with our institution
in the past. The bottom line is,
as an institution, we've got to be
available and go out and get the work
done to be attractive to customers
72 // ICBA Independent Banker // July 2023
" Minneapolis was ground zero
for equity and inclusion and
inequalities, " he says. " We are
hopeful we can be part of a solution,
so that people can say something
changed because of that day. And we
are hopeful that our bank can be one
of those beacons of hope, and maybe
inspire others in another city, in our
country or in other countries around
the world to create equality. "
The bank coalition is still meeting
once a month, a fact that Kelly is
particularly proud of. And though
he can't reveal details, he suggests
there is much more to come. " The
fortitude of this leadership team
is getting stronger over time, and
[we are] looking at how we access
resources beyond our own. And
there is a coalition that is broader
than just these five banks now
working to make a significant
difference in the Minneapolis and
St. Paul area. " 
Roshan McArthur is a writer
in California.
Independent Banker - July 2023

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