October 25, 2000 |
Founders National Bank, Los Angeles' only black-owned commercial bank, is expected to announce today that it plans to merge with Boston Bank of Commerce in an effort to build the nation's first African American-owned banking chain stretching from coast to coast. The new institution, which would use the Boston Bank of Commerce name, plans to launch with service in Florida, Boston and Los Angeles, areas the two banks currently serve. It hopes to expand in other states with urban markets.
CALIFORNIA | LOCAL
June 3, 2000
The controller of Founders National Bank, Los Angeles' only black-owned and black-operated commercial bank, pleaded guilty in federal court Friday to misappropriating nearly $413,000. Siriluck Hastanand, 47, of La Canada Flintridge admitted transferring the money from the bank's internal accounts to a savings account she held in trust for her daughter. Federal prosecutors said she made 46 money transfers from 1991 through 1997.
January 19, 2000 |
The Democratic National Convention won't hit town until August, when thousands of delegates and journalists are expected to boost the local economy. But some small businesses already have grabbed a slice of the pie.
October 26, 1999 |
Founders National Bank President Carlton Jenkins has resigned from Southern California's only African American-owned commercial bank, in a move he acknowledged is linked to the Los Angeles institution's purchase by a star-studded ownership team last year.
April 30, 1998 |
Earvin "Magic" Johnson, Janet Jackson and record-industry executive Jheryl Busby said Wednesday they have purchased a majority stake worth nearly $3 million in Los Angeles-based Founders National Bank, the only African American-owned and operated commercial bank in California.
February 26, 1998 |
Trying to determine whether there's support for opening an Orange County office, Founder's National Bank of Los Angeles is relying on a tried-and-true method: word-of-mouth. Last Saturday, about 35 business owners and community leaders met at Mimi's Cafe in Tustin where officials from the largest black-owned commercial bank west of the Mississippi spoke of expansion plans.