City Treasurer Kurt Summers Deposits $20 Million of City Money in State’s Last Black Owned Bank

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City Treasurer Kurt Summers (center) poses for pictures after a press conference on September 18, 2017. Credit: A.D. Quig

City Treasurer Kurt Summers joined black aldermen, pastors, and business owners Monday morning to announce the city would deposit $20 million at Illinois Service Federal, the last black-owned bank in Illinois. According to FDIC disclosures, the infusion represents about 20% of the bank’s total deposits. ISF reported $111 million in assets and $100 million in deposits.

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