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?
A story of survival
First State Bank had survived both the Great Depression and the Civil Rights era. The bank fought for civil rights, even paying bail for protesters who were arrested and building a park for black residents when Virginia denied them from using the Staunton River State Park. Black-owned banks like First State Bank also helped local farmers, and enabled the Black community to buy homes and even go to college.
