Three African-American-owned banks are getting into the brokerage business through a joint venture with Jackson, Shanklin & Sonia Investments, a New Orleans brokerage firm.

Liberty Bank and Trust Co. of New Orleans, Harbor Bankshares of Baltimore, and First Tuskegee (Ala.) Bank have jointly taken a 49% equity stake in the venture, to be called Jackson, Shanklin & Sonia Securities.

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.