CDFI Banking Industry Quarterly Profile: Second Quarter 2014
At the end of the second quarter 2014 there were 99 CDFI-certified banks, continuing the industry’s growth trend since year-end 2013. There are four new CDFI Banks – Citizens Bank of Columbia, MS; Cottonport Bank; First Bank of Linden; and Northern Hancock Bank and Trust – adding $805.9M in assets, $695.8M in deposits and $524.3M in loans to the sector. With 99 banks, the industry is now at its largest ever, in terms of number of banks.
NCIF's second quarter report demonstrate the financial trends of the CDFI Banking Industry. CDFI Banks continued to see gains in profitability, with increases in median Return on Assets (ROA) and Return on Average Equity (ROAE). While the CDFI Banks continue to provide needed quality products and services to the communities they serve, they also can provide strong returns.