WELCOME BACK. A NEW BANK IS MAKING HISTORY AS THE ONLY BLACK OWNED BANK IN A STATE OF OHIO. DELPHI BANK SAYS ITS MISSION IS TO POSITIVELY IMPACT FAMILIES AND GROW PROSPEROUS COMMUNITIES. AND IT COMES AS THE NUMBER OF BLACK OWNED BANKS IN THE U.S. IS DWINDLING. MICHAEL PUE, PRESIDENT AND CEO OF CARVER FEDERAL SAVINGS BANK ,ONE OF THE LARGEST AFRICAN AND CARIBBEAN AMERICAN MANAGED BANKS IN THE U.S., IS JOINING ME NOW FOR MORE ON THIS. MICHAEL, THANKS SO MUCH FOR BEING HERE. I KNOW CALVER IS CELEBRATING ITS SEVENTY FIFTH ANNIVERSARY. SO FIRST OF ALL, CONGRATULATIONS. >> THANK YOU. THANK YOU. THANKS FOR THE INVITE. HAPPY TO BE HERE AND SHARING OUR STORY. >> I LOVE IT. LET'S TALK ABOUT SOME OF THESE NUMBERS. THERE WERE ONE HUNDRED AND THIRTY FOUR BLACK OWNED REGISTERED BANKS WITH THE FDIC FROM 1888 TO NINETEEN THIRTY FOUR . BUT ACCORDING TO OUR COLUMBUS AFFILIATE, THIS NEW BANK IN OHIO MAKES TWENTY ONE . NOW, WHAT DO YOU THINK IS CAUSING THIS DROP? YEAH, SO THIS PRECIPITOUS DECLINE THAT WE'VE SEEN IN BLACK ON BLACK BANKS, FINANCIAL INSTITUTIONS REALLY HAS BEEN INDICATIVE OF A NUMBER OF THINGS. BUT ALL ROADS ULTIMATELY THE BACK TO CAPITAL. AND SO IF YOU THINK ABOUT FOR MANY OF THESE INSTITUTIONS, THEY WERE BORN OUT OF A CRISIS SITUATION. THEY WERE CREATED BECAUSE PEOPLE OF COLOR DIDN'T HAVE ACCESS TO MAINSTREAM BANKING SOLUTIONS. AND IF YOU CONSIDER THEM THE HEIGHT OF THE CIVIL RIGHTS MOVEMENT, WHEN REALLY MORE SOCIAL JUSTICE AND EQUITY AND INCLUSION ISSUES WERE STARTING TO BE ADDRESSED, WE THEN START TO SEE THAT PEOPLE OF COLOR WERE BEING GIVEN ACCESS TO MANY THINGS, INCLUDING FINANCIAL SERVICES, RESULTING IN MUCH MORE OF A BROAD STRATIFICATION OF WHERE PEOPLE OF COLOR WERE LIVING WEREN'T CONCENTRATED IN SOME OF THE SAME PLACES. IT'S A VERY DEEP AND COMPLICATED STORY, BUT IF YOU TIE IT BACK TO THE MAIN THING, AS SOME OF THE REGULATORY ISSUES, THE BANKING INDUSTRY, THE SECTOR CHAINS, THE THE NEEDS AND DEMANDS OF THE COMMUNITIES CHAINS HAVING ACCESS TO CAPITAL TO ULTIMATELY SCALE UP AND SUPPORT THE COMMUNITY. THESE CHANGES JUST DIDN'T EXIST THE SAME WAY. SO THE DECLINE DIDN'T OCCUR. BUT WE STAND STRONG NOW, I THINK WITH APPROXIMATELY 20 SOON TO SEE 21 FINANCIAL SERVICE INSTITUTIONS AND CERTAINLY AS A RECENT MUCH MORE EMPHASIS ON HOW TO SUPPORT THESE INSTITUTIONS. AND THAT IS UP FROM 16 LAST YEAR, ACCORDING TO THE FDIC. SO WE'RE SEEING A BIT OF AN IMPROVEMENT FROM LAST YEAR WHERE AN INCREASE FROM LAST YEAR. YOU SAY THAT THAT BLACK AMERICANS HAVE A COMPLICATED HISTORY WITH FINANCIAL INSTITUTIONS. SO PUT THAT INTO CONTEXT FOR ME. HOW DOES IT FEEL NOW KNOWING THAT YOUR BANK WAS FOUNDED IN HARLEM IN NINETEEN FORTY EIGHT ? HOW DOES IT FEEL NOW TO SEE WHERE YOU ARE? WELL, I FEEL HONORED, FIRST OF ALL, TO BE ONE OF APPROXIMATELY FIVE CEOS TO HAVE EXISTED AND SERVED AT THE LEADERSHIP TABLE SUPPORTING KAVRE, A SEVENTY FIVE YEAR HISTORY AND JOURNEY FOR THE FINANCIAL INSTITUTION ITSELF. >> WE WERE CREATED OUT OF THE NEED, AS I SAID EARLIER, AND THAT NEED, FRANKLY, FOR US WAS TO PROVIDE ACCESS TO CAPITAL TO PEOPLE OF COLOR WITHIN GREATER NEW YORK CITY. THERE WERE MANY SMALL BUSINESS ENTREPRENEURS, FAITH BASED LEADERS, LEADERS, CIVIL ACTIVISTS THAT JUST DIDN'T HAVE ACCESS, THOUGH THEY WERE MIDDLE INCOME PEOPLE OF COLOR. AND SO WHEN YOU THINK ABOUT WHERE WE WERE VERSUS TODAY, THE STORY, MUCH OF IT IS STILL THE SAME, WHICH IS PROVIDING ACCESS TO CAPITAL, THE COMMUNITIES THAT LOOK AND SHAPE HAS CHANGED A BIT, BUT THE NEED REMAINS RELATIVELY THE SAME. WE CONTINUE OUR FOCUS ON HELPING WOMEN ENTREPRENEUR WORKERS GAIN ACCESS TO CAPITAL PEOPLE OF COLOR IN TERMS OF MINORITY SMALL BUSINESSES. AND I FRANKLY, I THINK THAT, YOU KNOW, OUR OUTLOOK IS VERY OPTIMISTIC BECAUSE OF THE ONGOING PARTNERSHIPS THAT WE'VE HAD THROUGHOUT THE COMMUNITY. AND I KNOW THAT YOU REINVEST SO MUCH BACK INTO THE COMMUNITY AS WELL. SO, AGAIN, IT'S A GREAT CONVERSATION AND SO HAPPY TO HAVE YOU ON . CONGRATULATIONS ON THE ANNIVERSARY. >> THANK YOU. AND ONE THING I'LL JUST SHARE WITH YOU IS PART OF OUR 70%. WE'VE BEEN VERY PROUD TO TELL PEOPLE 80 CENTS OF EVERY DOLLAR