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Virginia's Last Black-Owned Bank Is Gone After Nearly 100 Years in Business -- What Happened?

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Founding members of Black-owned bank, First State Bank in Virginia
Founding directors of First State Bank in Danville, Virginia
Photo credit: Virginia Center for Digital History
First State Bank was formed by a group of African-Americans in rural Virginia in 1919. Almost hundred years later, First State Bank is the last Black-owned bank in Virginia to disappear. What happened? And, what has happened to all of the Black-owned banks across the nation?
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