With its fresh acquisition of the Tri-State Bank of Memphis, Liberty Bank and Trust Co. has positioned itself to become the nation’s first Black-owned bank with about $1 billion in assets.
New Orleans-based Liberty announced its purchase of Tri-State in an all-cash transaction for an undisclosed amount. As of the most recent acquisition, Liberty will have about $965 million in assets and offices in 12 cities and 10 states. Liberty and Tri-State are on the BE 100s Banks list.
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