Letter: Story failed to mention Midwest National Bank

I am glad Equity1821 was featured in an IBJ story, which is well written [“Black-led financial institution looks to create access to capital,” Oct. 29]. I do think IBJ failed to recognize the founding and operation of Midwest National Bank, a Black-owned and controlled national bank, in the mid-1970s.

Led by Dr. Frank Lloyd, Midwest National Bank focused on providing capital to individuals and minority-owned businesses.

It was supported in many ways by Indiana National Bank and American Fletcher National Bank, both being large publicly held national banks in Indy committed to finding better ways to serve the Black community.

I believe Midwest National Bank was the “first” Black-led financial institution in Indianapolis, and it was far more substantial in terms of assets and capitalization than Equity1821.

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Stephen Claffey

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