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Kiko Davis shows why she is 1 of the most powerful Black women in banking

Kiko Davis shows why she is 1 of the most powerful Black women in banking
Munson Steed and Kiko Davis

Kiko Davis-Snoddy is touted as “the only Black female bank owner in the United States.” First Independence Bank is the seventh-largest Black-owned bank in the United States, controlled by the Davis Family. On April 26, she was present in Minneapolis as First Independence Bank became the first Black-owned bank in that state.

First Independence Bank is one of the few minority-owned banks in the country. In a historic move, the bank ventured to open a location outside of its Detroit headquarters for the first time in more than the 50 years that it’s been in business.

“It is such a humbling and amazing experience that we have had coming into the Minneapolis St. Paul area,” Davis said at the opening. “So thank all of you, for supporting us and for your continued support.”

“I also like to thank the First Independence family and staff because they have worked tirelessly to get us here today,” Davis continued. “I want to make sure that they know that they are truly appreciated.

“My late husband, Don Davis, was the former chairman and CEO of First Independence Bank, and he would be so proud to see how far we’ve come. It is truly personal for me because in the 1967 Rebellion, there was a lot of social injustice, and there were a lot of discriminatory practices. But First Independence was born out of that.  They were able to rise above the ashes and to uplift the community at a time when it was very difficult.

[They were able] to meet the community and listen to what was needed in order for us to be successful, and to bring us forward to today much like what you guys experienced with George Floyd. So we are embracing this community, and we hope that you will embrace us back. I’m excited and looking forward to the whole inspiration and being a part of the solution for how we get to be successful in our communities.”

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