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Home > Company Index > Banking > Banking - West > Founders National Bank of Los Angeles

Founders National Bank of Los Angeles
 PROFILE
Founders National Bank, the only African-American-owned and -operated commercial bank in California, has star power. The privately held bank that helped rebuild South Central Los Angeles after the 1992 riots has three high-profile owners -- hoopster-turned-entrepreneur Earvin "Magic" Johnson, singer Janet Jackson, and Dreamworks SKG executive and former Motown Records president Jheryl Busby -- who together own a majority of the firm. The bank hopes its shareholders will attract capital for lending activities, especially loans to African-American small businesses. Founders National Bank, which Boston Bank of Commerce is buying, has three branches in South Central Los Angeles and one in Compton, California.

 FINANCIAL OVERVIEW
Fiscal Year-End: December
1999 Sales (mil.): 8.20
Employees: 78
Revenue per employee: $105,128.21

 KEY PEOPLE
• John P. Kelly
    CEO
• Mario Espinosa
    CFO

 CONTACT INFO
3910 W. Martin Luther King Jr. Blvd.
Los Angeles, CA 90008
US
Phone: 323-290-4848
Fax: 323-290-3313
Online: Web Site

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