Monday May 1st, 2023 marks the grande opening for Adelphi Bank. The ribbon cutting ceremony was held at the Lincoln theater stationed in King- Lincoln Bronzeville. Adelphi Bank is the 1st minority owned bank in central Ohio. Jordan Miller is the banks Chairman & CEO who retired from Fifth Third Bank as central Ohio market leader in 2019 and Franklin County Commissioner Kevin Boyce is the vice chair of the bank. Boyce recalls wanting to start Adelphi Bank after an encounter with law enforcement in which he was peppered sprayed for participating at a George Floyd protest in downtown Columbus. Boyce believes that the inequity in wealth is a major influence for the treatment of monorities.
The broad of directors included Larry James (Parnter, Crabbe Brown & James), Karen Morrison (President, Ohio Health Foundation), Alex Shumate( Partner Suire Patton Boggs), Greta Russell (Franklin County Finance Authority board), Michael Coleman ( Former Mayor of Columbus), Melissa Ingwersen (retired Ohio District President of Key Bank) Jordan Miller (Chairman & CEO), Kevin Boyce (Franklin County Commissioner), and Dr. Kamara Haydar (ER physician)
Founders of Adelphi Bank joke about "uncle Kevin" helping the community.
How Important is this type of Bank?
According to the FDIC only 23 financial institutions are owned and operated by African Americans in 2018. The lack of representation in the banking world lends to under banking of African Americans or sadly no banking whatsoever. Adelphi Bank can help grow the number of African Americans in current generations but hopefully also the future generations as well.
Banking without Inherent Bias!
The goal of Adelphi Bank is to remove barriers to financial equity while simultaneously simplifying the financial world. Let's pray the rest of the country follows suit to aide in equality for all in banking.