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Home > BizTimes Daily > Archives > February 23, 2007
Investment at Legacy Bank to help inner city
Published February 23, 2007 - BizTimes Daily
Stewart Title, a real estate information and transaction management company, has made a deposit of $300,000 at Legacy Bank of Milwaukee to help minorities own homes and develop businesses.
Legacy Bank, founded by three African-American women in 1999, is a part of Legacy Bancorp Inc. In eight years of business, Legacy Bank has become one of the fastest-growing community banks in America by building strategic partnerships with businesses such as Stewart Title.
"The significance of this deposit is tremendous," said the Rev. Larry Bullock, director of multicultural markets development for Stewart Title's MidAmerica region. "It marks the merging of two pioneers - an African-American-run bank, founded by three African-American women, that is working to revitalize its community and a family-managed company committed to developing new opportunities in multicultural markets."
Nationally, African-Americans lag behind the national homeownership average and in Milwaukee, African-Americans have an even lower rate of homeownership.
Legacy Bank chief executive officer Deloris Sims and vice president Margaret Henningsen hosted a ceremony Thursday to commemorate the investment by Stewart Title in the bank's lobby at 2102 West Fond du Lac Ave.
"This is the beginning of a relationship with Legacy Bank, our growing community and Stewart Title," Sims said. "More than a deposit, this is an investment in a relationship. The leverage-power of this deposit will allow us to help our customers meet their financial needs while helping them to achieve their financial goals."
Stewart Title is a wholly owned subsidiary of Houston, Texas-based Stewart Information Services Corp.
