Tuskegee, a central Alabama town of 12,000 about 15 miles from the nearest Wal-Mart, is hardly the place most bankers would look to buy a failed savings and loan.

The average personal income of residents in the town - best known for its African-American college of the same name - is half the national average.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.