Bank of Finance records, approximately 1963-1975

Printable guide [HTML]
Request items

Summary

Creators:
Bank of Finance (Los Angeles, Calif.), California. Governor's Commission on the Los Angeles Riots., National Association of Real Estate Brokers. Convention, Opportunities Industrialization Centers of America, and Second Baptist Church (Los Angeles, Calif.)
Abstract:
Materials documenting the history of the Bank of Finance in South Los Angeles, the first African American-owned, operated, and state-chartered commercial bank, founded in 1964. The collection primarily includes photographic materials, yet contains an ample amount of printed materials, old leases, canceled stock certificates, and ephemera.
Extent:
2 Linear Feet (3 boxes)
Language:
Materials are in English.
Preferred citation:

[Identification of item]. Bank of Finance records, The Huntington Library, San Marino, California.

Background

Scope and content:

The collection consists mainly of photographic prints as well as a small number of contact sheets, negatives, and slides pertaining to the construction and infrastructure of the bank, its leaders, employees, and presumably clients. Of note are images of board members including former Los Angeles city councilman and Mayor Tom Bradley, civil rights leader Reverend Thomas Kilgore, Jr., and Dr. Leroy R. Weekes, founder of the King/Drew Medical Center in Los Angeles. Also included are newspaper clippings; press releases; communications, and resource referral lists; an August 1964 National Association of Real Estate Brokers 17th Annual Convention journal; a report from the Governor's Commission on the Los Angeles Riots; invitations; advertisement printing plates; a 1975 Opportunities Industrialization Center (OIC) Achievement Award engraved plaque plate; biographical data on Tom Bradley; a Second Baptist Church First Decade Award certificate and program honoring the bank; as well as a Man of the Year Award program honoring United States Congressman Augustus F. Hawkins. The collection also contains Financial Building Company leases and canceled stock certificates.

Biographical / historical:

The Bank of Finance was the first state-chartered, Black-owned and operated commercial bank in Los Angeles, California. It opened its doors on November 16, 1964, at 2651 South Western Avenue. The bank was established by real estate broker Onie B. Granville; former Los Angeles City Councilman and Mayor Tom Bradley; Drs. Perry Beal and Edward Ballard; real estate broker Lorenzo Spencer; and Wilton A. Clark, owner of the Clark Furniture Company. The team, along with Granville's sister, Bernice Malbrue, served on the first Board of Directors. The impetus behind the bank's formation was to bypass discriminatory housing and lending practices faced by African Americans within the Los Angeles community. It also functioned as a full-service commercial banking institution that offered business and personal loans, checking and savings accounts, and letters of credit. Following the Watts Riots of 1965, the bank aided in the rebuilding of Los Angeles' inner city. In 1981 the bank transferred most of its shares to outside investors, changed its name to West Olympia Bank, and cut ties with the African American community.

Acquisition information:
Purchased from Caroliniana Rare Books, January 2023.
Processing information:

Processed at the time of accessioning by Nichole L. Manlove in March 2023.

Arrangement:

Arranged in two series: 1. Documents and related materials; 2. Photographic materials.

Rules or conventions:
Describing Archives: A Content Standard

Access and use

Restrictions:

Open for use by qualified researchers and by appointment. Please contact Reader Services at the Huntington Library for more information.

Terms of access:

The Huntington Library does not require that researchers request permission to quote from or publish images of this material, nor does it charge fees for such activities. The responsibility for identifying the copyright holder, if there is one, and obtaining necessary permissions rests with the researcher.

Preferred citation:

[Identification of item]. Bank of Finance records, The Huntington Library, San Marino, California.

Location of this collection:
1151 Oxford Road
San Marino, CA 91108, US
Contact:
(626) 405-2191
reference@huntington.org
Website