Top 16 Women-Owned Banks in the US in 2025 with Assets and Key Details

Women-owned banks remain a rare but rapidly expanding segment within the US banking industry.

On March 5, 2021, the Federal Reserve Board officially broadened the definition of minority depository institutions (MDIs) to include women-owned financial institutions. This milestone acknowledges the historical underrepresentation of women in banking ownership and leadership roles, despite women comprising nearly half of the global population and over 58% of the US population as of 2022.

Although women participate in the workforce at a rate of 62.5% as of January 2024, their ownership of banks is disproportionately low. Currently, only 16 women-owned banks are recognized by the Office of the Comptroller of the Currency (OCC), fewer than banks owned by other minority groups such as Black, Asian American, Native American, and Hispanic American communities.

Minority depository institutions, including women-owned banks, play a critical role by offering financial services that address the unique challenges faced by their communities, fostering economic inclusion and empowerment.

Key Highlights

• There are 16 women-owned banks in the US as per the OCC.
• The Federal Reserve's 2021 reclassification includes women-owned banks as MDIs.
• Texas National Bank of Jacksonville leads as the largest women-owned bank with $807.37 million in assets (2024).

Understanding Minority Depository Institutions (MDIs)

The US has 4,614 FDIC-insured commercial banks and savings institutions. To qualify as an MDI, a bank must have at least 51% voting stock owned by minorities or a majority-minority board serving predominantly minority communities. Women-owned banks fall under this category when majority ownership or board control is by women who are US citizens or permanent residents.

This article focuses on the 16 women-owned banks regulated by the OCC, which supervises over 1,000 national banks and federal savings associations. The Federal Reserve maintains an evolving list of women depository institutions, but a comprehensive directory for women-owned credit unions is currently unavailable.

Historical Milestones of Women in US Banking

While US banking dates back to 1781, women’s leadership in the sector emerged slowly. Deborah Powers founded D. Powers & Sons bank in 1877 at age 87, becoming the first woman bank founder born in the 18th century. Earlier, Louise M. Weiser and Leila Comstock also broke barriers by serving as bank presidents in the late 19th century.

Maggie L. Walker, an African American civil rights leader, founded the St. Luke Penny Savings Bank in 1903, becoming the first Black woman bank president. Her success during the Jim Crow era stands as a testament to resilience and leadership.

Other pioneers include Evelyn Tome, Mary E. Miller, and Anna Martin, who each founded or led banks in the late 1800s and early 1900s, marking significant firsts for women in banking.

Social Progress Impacting Women-Owned Banks

Legal restrictions historically limited women’s financial autonomy until the Married Women’s Property Acts (1839–1895) and the Equal Credit Opportunity Act of 1974, which finally allowed married women independent credit access.

The 19th Amendment (1920) empowered women politically and economically, leading to the creation of the first women-staffed banking department at the Bank of Italy. Women’s workforce participation surged during the Great Depression and World War II, despite persistent wage disparities.

The Civil Rights Movement and second-wave feminism of the 1960s and 1970s catalyzed growth in minority- and women-owned banks, supported by anti-discrimination legislation like the Civil Rights Act of 1964.

The Future Outlook for Women-Owned Banks

Despite early trailblazers, women-owned banks have faced challenges in branding and growth. For example, First Women’s Bank, established in 1975, rebranded and was eventually closed by 1992.

Defining women-owned banks remains complex, as many become women-owned through inheritance rather than founding. Additionally, since women are not a demographic minority, classification criteria can be ambiguous.

Women still hold a minority of leadership roles in finance globally, with only 5% serving as CEOs in 2021. Industry sexism and limited advancement opportunities contribute to attrition.

However, the rise of diversity, equity, and inclusion initiatives has paved the way for new women-focused banks like Agility Bank, launched in 2022 in Houston, which prioritizes digital banking for women and minority communities.

Why Women-Owned Banks Matter

Women face persistent pay gaps and financial discrimination, with 2022 data showing women earn 82% of men’s wages on average. Intersectional factors further widen this gap.

Women-owned banks are uniquely positioned to understand and address lending disparities, closing the $300 billion financing gap reported by the International Finance Corporation in 2014. Over 70% of women-owned small and medium enterprises lack adequate financial services.

Women-founded businesses drive significant economic growth, employing nearly 9 million people and generating $1.6 trillion in revenue in the US. Enhanced access to credit through women-owned banks can accelerate this growth and help build generational wealth.

Comprehensive List of Women-Owned Banks in the US (2024)

Agility Bank

Established in 2022 in Houston, TX, Agility Bank offers a fully digital banking experience focused on women and minority communities. Women own 72% of voting stock, with over 90% female staff and leadership.

• Branch: Houston, TX
• Services: Personal & business accounts, SBA loans, home equity loans
• Access: Online and brick-and-mortar

BancCentral National Association

Founded in 1901 in Alva, Oklahoma, BancCentral has expanded through acquisitions and remains family-owned.

• Branches: Multiple locations in Oklahoma
• Services: Checking, savings, loans, trusts, safe deposit boxes
• Access: Physical branches and online

Beacon Business Bank

Operating in Northern California since 1984, Beacon Business Bank specializes in small business banking and commercial loans.

• Branches: San Francisco and San Mateo, CA
• Services: Business and personal banking, commercial loans
• Access: Branch and online

Commercial National Bank of Texarkana

Serving Arkansas and Texas since 1964, this family-owned bank emphasizes community service and economic support.

• Branches: Multiple in AR and TX
• Services: Personal and business banking, mortgages, credit cards
• Access: Branch and online

First National Bank Alaska

Established in 1922 in Anchorage, Alaska, with extensive branch network and diverse financial services.

• Branches: 20+ across Alaska
• Services: Personal, business, loans, wealth management
• Access: Branch and online

First National Bank in Fredonia

Founded in 1871 in Kansas, providing traditional banking services to its community.

• Branch: Fredonia, KS
• Services: Personal and business accounts, loans, credit cards
• Access: Branch and online

First National Bank of Gordon

Family-owned since 1889 in Nebraska, offering personal and agricultural banking.

• Branch: Gordon, NE
• Services: Checking, savings, loans, safe deposit
• Access: Branch and online

First National Bank of Izard County

Serving Arkansas communities since 1914 with focus on personalized banking.

• Branches: Multiple in Arkansas
• Services: Checking, loans, safe deposit
• Access: Branch and online

First National Bank of Manning

Five-generation family-owned bank in Iowa since 1886, blending tradition with modern services.

• Branch: Manning, IA
• Services: Checking, savings, safe deposit boxes
• Access: Branch and online

First National Bank of Okeene

Established in 1916 in Oklahoma, led by the Wisdom family for decades.

• Branch: Okeene, OK
• Services: Personal and business banking, commercial loans
• Access: Branch and online

First National Bank in Tigerton

Chartered in 1934 in Wisconsin, recognized for strong financial performance.

• Branches: Tigerton and Bowler, WI
• Services: Checking, savings, loans, investments
• Access: Branch and online

Southeast First National Bank

Founded in 1968 with community focus across Florida and Georgia.

• Branches: Panama City Beach, FL and locations in GA
• Services: Personal and commercial accounts, wire transfers
• Access: Branch and online

The First National Bank in Falfurrias

Operating since 1920 in Texas, offering comprehensive banking and lending services.

• Branch: Falfurrias, TX
• Services: Personal, business, consumer and agricultural loans
• Access: Branch and online

Texas National Bank of Jacksonville

Known as “The Bank with the Blue Roof,” founded in 1985 and largest women-owned bank with $807.37 million in assets.

• Branches: Multiple in Texas
• Services: Personal and commercial banking, loans, notary services
• Access: Branch and online

The National Bank of Malvern

Founded in 1883 in Pennsylvania, family-led for over 135 years.

• Branches: Malvern and Frazer, PA
• Services: Personal and business banking, e-statements
• Access: Branch and online

The Santa Anna National Bank

Serving Texas counties since 1933 with personal and commercial banking services.

• Branch: Santa Anna, TX
• Services: Checking, savings, loans, debit cards
• Access: Branch and online

Frequently Asked Questions

Are there banks owned by women in the US?

Yes, according to the OCC, there are 16 women-owned banks across various states including Texas, Oklahoma, California, and Alaska.

Who were the pioneering women founders of banks?

Deborah Powers founded the first US women-owned bank in 1877, and Maggie L. Walker became the first African American woman to found a bank in 1903, both breaking significant ground in banking history.

Which is the largest women-owned bank in the US?

Texas National Bank of Jacksonville holds this distinction with $807.37 million in assets as of January 2024.

Conclusion

The evolution of women’s legal rights has directly influenced their growing role in banking ownership and leadership. Despite progress, women-owned banks remain limited in number but are crucial for addressing financial inequities faced by women. The 2021 Federal Reserve designation of women-owned banks as minority depository institutions marks a pivotal advancement in recognizing and supporting these institutions. Continued growth and visibility of women-owned banks will enhance financial inclusivity and economic empowerment across the United States.

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