{"id":13296,"date":"2021-06-23T10:14:41","date_gmt":"2021-06-23T14:14:41","guid":{"rendered":"https:\/\/www.indianz.com\/News\/?p=13296"},"modified":"2021-06-23T10:16:17","modified_gmt":"2021-06-23T14:16:17","slug":"native-american-bank-lands-significant-investment","status":"publish","type":"post","link":"https:\/\/indianz.com\/News\/2021\/06\/23\/native-american-bank-lands-significant-investment\/","title":{"rendered":"Native American Bank lands significant investment"},"content":{"rendered":" <a href=\"https:\/\/indianz.com\/News\/2021\/06\/23\/native-american-bank-lands-significant-investment\/nativeamericanbank\/\" rel=\"attachment wp-att-13299\"><img loading=\"lazy\" decoding=\"async\" width=\"1600\" height=\"1200\" data-attachment-id=\"13299\" data-permalink=\"https:\/\/indianz.com\/News\/2021\/06\/23\/native-american-bank-lands-significant-investment\/nativeamericanbank\/\" data-orig-file=\"https:\/\/indianz.com\/News\/wp-content\/uploads\/2021\/06\/23\/nativeamericanbank.jpg\" data-orig-size=\"1600,1200\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;7.5&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;E5700&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1211529670&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;11.6&quot;,&quot;iso&quot;:&quot;100&quot;,&quot;shutter_speed&quot;:&quot;0.0018181818181818&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Native American Bank\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;The Native American Bank is headquartered in Denver, Colorado.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/indianz.com\/News\/wp-content\/uploads\/2021\/06\/23\/nativeamericanbank-1024x768.jpg\" src=\"https:\/\/indianz.com\/News\/wp-content\/uploads\/2021\/06\/23\/nativeamericanbank.jpg\" alt=\"Native American Bank\"  class=\"size-full wp-image-13299\" \/><\/a><figcaption class=\"figure-caption\"> The Native American Bank is headquartered in Denver, Colorado. Courtesy photo<\/figcaption>\r\n<div class=\"h3-responsive font-weight-bold\">Native American Bank lands significant investment<\/div>\r\n<div class=\"date\">Wednesday, June 23, 2021<\/div>\r\n<div class=\"byline\">By <A href=\"https:\/\/twitter.com\/Kevin_Abourezk\">Kevin Abourezk<\/A> <A href=\"https:\/\/twitter.com\/Kevin_Abourezk\"><I aria-hidden=true class=\"fab fa-twitter\"><\/I><\/A><\/div>\r\n<div class=\"source\">Indianz.Com<\/div>\r\n<p><\/p>\r\nA financial institution established by famed Native banker and activist <a href=\"https:\/\/en.wikipedia.org\/wiki\/Elouise_P._Cobell\">Elouise Cobell<\/a> is celebrating a significant investment by the second largest bank in America.\r\n<p><\/p>\r\nBank of America recently announced that it had deposited $10 million into the holding company for the Denver-based <a href=\"https:\/\/nativeamericanbank.com\">Native American Bank<\/a>, the country\u2019s only Native-owned nationwide bank. The investment makes Bank of America a 4.9 percent owner of the bank.\r\n<p><\/p>\r\n\u201cI think it says a lot about Native American Bank,\u201d said Tom Ogaard, president of CEO of Native American Bank. \u201cI think it says a lot about Bank of America.\u201d\r\n<p><\/p>\r\n<div class=\" content_cards_card content_cards_domain_twitter-com\">\n\t\t\t<div class=\"content_cards_image\">\n\t\t\t\t<a class=\"content_cards_image_link\" href=\"https:\/\/twitter.com\/NABNA2001\/status\/1407355201783271430\">\n\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/indianz.com\/News\/wp-content\/plugins\/content-cards\/skins\/default\/content-cards-placeholder.png\" alt=\"\">\t\t\t\t<\/a>\n\t\t<\/div>\n\t\n\t<div class=\"content_cards_title\">\n\t\t<a class=\"content_cards_title_link\" href=\"https:\/\/twitter.com\/NABNA2001\/status\/1407355201783271430\">\n\t\t\t\t\t<\/a>\n\t<\/div>\n\t<div class=\"content_cards_description\">\n\t\t<a class=\"content_cards_description_link\" href=\"https:\/\/twitter.com\/NABNA2001\/status\/1407355201783271430\">\n\t\t\t\t\t<\/a>\n\t<\/div>\n\t<div class=\"content_cards_site_name\">\n\t\t<img decoding=\"async\" src=\"\/\/abs.twimg.com\/favicons\/twitter.3.ico\" alt=\"X (formerly Twitter)\" class=\"content_cards_favicon\"\/>\t\tX (formerly Twitter)\t<\/div>\n<\/div>\r\n<p><\/p>\r\nHe said the investment will allow Native American Bank to continue funding Native projects, businesses and consumer lending needs. The bank has become a catalyst for economic development in Indian Country, providing funding for everything from compost facilities and homes to convenience stores and restaurants from Alaska to Florida.\r\n<p><\/p>\r\nNative American Bank is a $180 million for-profit bank that serves all customers, while focusing on lending and economic development to project on and near tribal lands. Of the bank\u2019s 36 shareholders, 31 are tribal nations, tribal enterprises and Alaska native corporations.\r\n<p><\/p>\r\nThe Native American Bank has its origins in Browning, Montana, where Cobell helped establish the Blackfeet National Bank in 1987. Cobell \u2013 who later became the lead plaintiff in <em>Cobell v. Salazar<\/em>, the groundbreaking class-action lawsuit that led to the <a href=https:\/\/www.indianz.com\/cobell\/>$3.4 billion Cobell settlement<\/a> \u2013 understood her reservation\u2019s need for banking services that were tailored for Native people.\r\n<p><\/p>\r\n <a href=\"https:\/\/indianz.com\/News\/2021\/06\/23\/native-american-bank-lands-significant-investment\/elouisecobellbarackobama\/\" rel=\"attachment wp-att-13301\"><img loading=\"lazy\" decoding=\"async\" width=\"1400\" height=\"933\" data-attachment-id=\"13301\" data-permalink=\"https:\/\/indianz.com\/News\/2021\/06\/23\/native-american-bank-lands-significant-investment\/elouisecobellbarackobama\/\" data-orig-file=\"https:\/\/indianz.com\/News\/wp-content\/uploads\/2021\/06\/23\/elouisecobellbarackobama.jpg\" data-orig-size=\"1400,933\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;3.2&quot;,&quot;credit&quot;:&quot;Pete Souza&quot;,&quot;camera&quot;:&quot;Canon EOS 5D Mark II&quot;,&quot;caption&quot;:&quot;President Barack Obama meets with Elouise Cobell in the Oval Office, Dec. 8, 2010. (Official White House Photo by Pete Souza)\\rThis official White House photograph is being made available only for publication by news organizations and\/or for personal use printing by the subject(s) of the photograph. The photograph may not be manipulated in any way and may not be used in commercial or political materials, advertisements, emails, products, promotions that in any way suggests approval or endorsement of the President, the First Family, or the White House.&quot;,&quot;created_timestamp&quot;:&quot;1291830541&quot;,&quot;copyright&quot;:&quot;This photograph is provided by THE WHITE HOUSE as a courtesy and may be printed by the subject(s) in the photograph for personal&quot;,&quot;focal_length&quot;:&quot;35&quot;,&quot;iso&quot;:&quot;640&quot;,&quot;shutter_speed&quot;:&quot;0.008&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Elouise Cobell and Barack Obama\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;The late Elouise Cobell meets President Barack Obama at the White House on December 8, 2010. Cobell, a citizen of the Blackfeet Nation, was the lead plaintiff in the landmark Indian trust fund lawsuit, which led to a $3.8 billion settlement with the federal government. Her efforts to improve financial services in her community led to the establishment of the Native American Bank. Photo by Pete Souza \/ White House&lt;\/p&gt;\n\" data-large-file=\"https:\/\/indianz.com\/News\/wp-content\/uploads\/2021\/06\/23\/elouisecobellbarackobama-1024x682.jpg\" src=\"https:\/\/indianz.com\/News\/wp-content\/uploads\/2021\/06\/23\/elouisecobellbarackobama.jpg\" alt=\"Elouise Cobell and Barack Obama\"  class=\"size-full wp-image-13301\" \/><\/a><figcaption class=\"figure-caption\"> The late Elouise Cobell meets President Barack Obama at the White House on December 8, 2010. Cobell, a citizen of the Blackfeet Nation, was the lead plaintiff in the landmark Indian trust fund lawsuit, which led to a $3.8 billion settlement with the federal government. Her efforts to improve financial services in her community led to the establishment of the Native American Bank. Photo by Pete Souza \/ White House<\/figcaption>\r\n<p><\/p>\r\nSoon after the founding of the Blackfeet National Bank, other tribes began petitioning the Blackfeet Nation to provide them with banking services. However, the small bank lacked the resources to serve other tribes.\r\n<p><\/p>\r\nSo in 1998, a group of tribes decided to pool their resources to establish a national bank serving Native Americans.\r\n<p><\/p>\r\nToday, the Native American Bank is a certified Community Development Financial Institution focused on providing financial services for Alaska Native and Native American communities.\r\n<p><\/p>\r\nOgaard said the investment from Bank of America represents a significant vote of confidence from one of the country\u2019s leading financial institutions.\r\n<p><\/p>\r\n\u201cIt probably causes others to take a look, not just at NA Bank, but at Indian Country as a whole,\u201d he said. \u201cAny support that we can get to provide additional capital in Indian Country is certainly welcome.\u201d\r\n<p><\/p><div class=\"mt-1 mb-1\"><ins class=\"adsbygoogle\" style=\"display:block; text-align:center;\" data-ad-layout=\"in-article\" data-ad-format=\"fluid\" data-ad-client=\"ca-pub-8411603009680747\" data-ad-slot=\"6394965691\"><\/ins><script>(adsbygoogle = window.adsbygoogle || []).push({});<\/script><\/div><p><\/p>\r\nThe Native American Bank provided crucial lending to businesses affected by the COVID-19 pandemic, issuing more than $42 million in Paycheck Protection Program loans in 2020. Of the 221 businesses that received PPP loans through the bank, 78 percent were Native owned.\r\n<p><\/p>\r\n\u201cThe health crisis has impacted all of us, disproportionately so in tribal and Native communities where Native American Bank\u2019s efforts to support small businesses and jobs are helping to mitigate some of the enormous economic risks these communities face,\u201d said Raju Patel, Denver President of Bank of America.\r\n<p><\/p>\r\n \u201cBank of America is committed to supporting the health and economic well-being of the region, which begins by supporting small businesses, who are the backbone of our communities,\u201d said Patel.\r\n<P><\/p>\r\n<div class=\"h4-responsive\">Related Stories<\/div><a title=\"Native American Bank prepares for big move\" href=https:\/\/indianz.com\/News\/2018\/08\/03\/native-american-bank-prepares-for-big-mo.asp>\r\nNative American Bank prepares for big move<\/a> (August 3, 2018)","protected":false},"excerpt":{"rendered":"A financial institution established by famed Native banker and activist Elouise Cobell is celebrating a significant investment.","protected":false},"author":1,"featured_media":13299,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"_vp_format_video_url":"","_vp_image_focal_point":[],"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[10,1],"tags":[1712,400,5,1307,1711,1713],"class_list":["post-13296","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-national","tag-banks","tag-colorado","tag-coronavirus","tag-elouise-cobell","tag-native-american-bank","tag-tom-ogaard","no-wpautop"],"jetpack_featured_media_url":"https:\/\/indianz.com\/News\/wp-content\/uploads\/2021\/06\/23\/nativeamericanbank.jpg","jetpack_shortlink":"https:\/\/wp.me\/pcoJ7g-3ss","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/indianz.com\/News\/wp-json\/wp\/v2\/posts\/13296","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/indianz.com\/News\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/indianz.com\/News\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/indianz.com\/News\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/indianz.com\/News\/wp-json\/wp\/v2\/comments?post=13296"}],"version-history":[{"count":0,"href":"https:\/\/indianz.com\/News\/wp-json\/wp\/v2\/posts\/13296\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/indianz.com\/News\/wp-json\/wp\/v2\/media\/13299"}],"wp:attachment":[{"href":"https:\/\/indianz.com\/News\/wp-json\/wp\/v2\/media?parent=13296"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/indianz.com\/News\/wp-json\/wp\/v2\/categories?post=13296"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/indianz.com\/News\/wp-json\/wp\/v2\/tags?post=13296"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}