New data shows that Bryant Bank continues to make very few loans to African-American homeowners.
According to Home Mortgage Disclosure Act data released last week for mortgage lending in 2014, Bryant Bank originated three loans to African-American homeowners in the entire year. Those loans were for:
- One home purchase loan of $125,000 in Madison County.
- One home purchase loan of $475,000 in Mobile County.
- One home purchase loan of $136,000 in Madison County.
On the other hand, the bank made 172 loans to white homeowners. Two loans were originated to Latino households.
Most of Bryant Bank's mortgage activity takes place in Tuscaloosa County. In Tuscaloosa County, where Bryant is headquartered, Bryant Bank reported 54 originations in 2014. Of the 53 that indicated the race of the borrower, all were to white homeowners. The bank has seven branches in the Birmingham area, but it made no loans (refinance or home purchase) to African-Americans in the Magic City. The bank's seven Birmingham-area branches are all located in the southern suburbs of Birmingham. The socioeconomic profile of those branches:
- Hoover: tract median family income (TMFI) of $129,000. Tract minority population share (TMPS) of 20.5 percent.
- Mountain Brook: TMFI of $71,000; TMPS of 8.7 percent.
- Homewood: TMFI of $94,000; TMPS of 22.7 percent.
- Trussville: TMFI of $81,000; TMPS of 6 percent
- Columbiana: TMFI of $59,000. TMPS of 21.5 percent
- Hoover: TMFI of $124,000. TMPS of 26 percent.
- Mountain Brook: TMFI of $159,000. TMPS of 4.1 percent
These numbers represent an increase in activity to minority borrowers relative to the recent past. In an earlier post, I reported that Bryant had made only three home purchase loans to African-Americans between 2008 and 2013.
Tuscaloosa County is the home of the University of Alabama. Several members of Bryant Bank have connections to the University of Alabama System Board of Trustees. The President of Bryant Bank is the son of former University of Alabama head football coach Paul "Bear" Bryant.
These numbers have not carried to across to how regulators view the bank's service to its community. In 2014, Bryant Bank received a "satisfactory" in its Community Reinvestment Act performance evaluation.
Note: the term "homeowners" refers to owner-occupants. It does not include investors.