Bernice King joins Black-led investment group in historic bank acquisition
Dr. Bernice A. King speaks at the 2025 Martin Luther King, Jr. Beloved Community Commemorative Service at The King Center on January 20, 2025 in Atlanta, Georgia. (Photo by Nykieria Chaney/Getty Images)
ATLANTA - Dr. Bernice King, daughter of civil rights icon Dr. Martin Luther King Jr., is making history in the world of finance. She has joined a Utah-based banking company as senior vice president for corporate strategy, following a groundbreaking acquisition by a Black-led investment group.
What they're saying:
The move marks the first time a bank in the western United States has come under Black ownership. The company, formerly Holladay Bank & Trust, has been renamed Redemption Bank, according to Inner City News.
Redemption Bank says its mission is to address economic disparities by focusing on commercial lending and small business loans, particularly in underserved communities.
What's next:
The bank is expected to launch a digital platform by the end of the summer.
Why you should care:
King’s leadership role reflects her ongoing efforts to advance economic equity and empowerment, building on her father’s legacy through financial opportunity and inclusion.