Kevin Cohee is the owner, Chairman and Chief Executive Officer of OneUnited Bank, the largest Black owned bank and the first Black owned internet bank in America. In the aftermath of the protest against police brutality in 2016, Mr. Cohee created and spearheaded the Bank Black movement resulting in Black people transferring tens of millions of dollars into Black owned banks as a form of social protest. OneUnited Bank was established by unifying several community banks across the country: Founders National Bank and Family Savings Bank in Los Angeles, People National Bank in Miami and Boston Bank of Commerce. Respectively, these banks have tenaciously served many neglected urban communities in America. By unifying these banks, OneUnited Bank has built the foundation to solve the longstanding problem of access to capital in inner city communities. Through Mr. Cohee’s visionary leadership, OneUnited Bank has exceeded industry averages year after year regarding asset growth and profitability. From 1996 to the present, OneUnited assets have grown from $56 million to over $650 million. The Bank has consistently been profitable and achieved a compound growth rate on its common equity of over 35%.
How the CEO of the largest Black-owned bank helps Black Americans secure economic success.
OneUnited Bank CEO Kevin Cohee joins 'Squawk on the Street' to discuss the bank's insulation from commercial real estate stress, his insight into outright loan demand, and more.
OneUnited Bank Chairman, CEO and Owner, Kevin Cohee, says OneUnited is not exposed to commercial real estate. He also discusses the bank's financial wellness AI tool and widening the racial wealth gap. Kevin Cohee speaks with Scarlet Fu and Alix Steel on "Bloomberg Markets: The Close." (Source: Bloomberg)