Friday, January 27, 2017

Seaway Bank is closed down by FDIC

This is the page you will see when you visit Seaway Bank's online home as of Friday night. For the many supporters of Seaway Bank this is truly a sad day. Unfortunately what did them was the purchase of assets from two other failed banks and essentially loan losses.

Read more about it at Crain's. Which now says Chicago now has only one Black-owned bank in Illinois Service Federal. Then of course Liberty Bank on the city's west side (formerly Community Bank of Lawndale and Covenant Bank) which is actually based on New Orleans.

BTW, Seaway Bank recently started a ig account unfortunately it has been deleted. I took a screencap of that also. And even worse the immediate last post after the screen cap posted to ig was of a group of young men who were at the bank being mentored on working in the banking industry.

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