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First black-owned Internet bank receives approval from FDIC

(Sept. 19, 2005) BankBlackwell, the first African-American Internet bank, has received deposit insurance approval from the Federal Deposit Insurance Corporation (FDIC). The approval clears the way for BankBlackwell to complete its $17.5 million public offering, required to commence operations.

BankBlackwell is offering up to 1,664,000 shares of its common stock at a public offering price of $10.00 per share. The Bank is offering its common shares directly to individual and institutional investors.

FDIC approval was the last regulatory hurdle for BankBlackwell. Earlier this year, BankBlackwell became the first African-American bank to obtain a federal banking charter in more than a decade. The Bank announced the FDIC approval at the kickoff of its national capital raising campaign in Boston and Atlanta last week.

BankBlackwell intends to operate as a savings bank focused on offering selected financial services over the Internet to African-American individuals and churches and to those customers who seek value and convenience. BankBlackwell has received approval from the Office of Thrift Supervision to organize a federal savings bank and from the FDIC for federal deposit insurance.

BankBlackwell has launched a grass roots capital raising campaign that targets major metropolitan areas with large African-American populations and strong community churches. Receptions are planned for Cleveland, Chicago, Detroit, Los Angeles, Miami, New York, Washington D.C. and other cities.

For more information visit www.bankblackwell.com.

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Departments Advertising & PR News Marketing News TV & Cable News Radio News Magazine News Newspaper News Internet News Retailing News Consumer Research Expenditure Data People in the News Industry News Company Bios and Background Register Here STAY IN-THE-KNOW! Are you getting the latest industry news when it happens via e-mail? Click here for free delivery of the Target Market News Bulletin You'll receive news of breaking stories, exclusives, updates and headlines on the latest developments in African American marketing and media Black Stats Frequently requested data on African American consumers Black Buying Power: $656 Billion (2003) Black U.S. Population: 38.3 million Top Five Black Cities - New York - Chicago - Detroit - Philadelphia - Houston Top Five Black Metros: - New York-New Jersey - Washington-Baltimore - Chicago-Gary - Los Angeles - Philadelphia Top Five Expenditures: - Housing 145.2 bil. - Food 56.5 bil. - Cars/Trucks 32.6 bil. - Clothing 23.0 bil. - Health Care 18.0 bil. Click here for more stats from "The Buying Power of Black America." ______________________ Get quick access to key U.S. Census Bureau Data Click here to go to African-American Census Bureau data _____________________ Copyright `© 2005 by Target Market News Inc.` All rights reserved Business address: 228 S. Wabash Ave. Suite 210 Chicago, IL 60604 t. 312-408-1881 f. 312-408-1867 info@targetmarketnews.com	THE LATEST NEWS First black-owned Internet bank receives approval from FDIC (Sept. 19, 2005) BankBlackwell, the first African-American Internet bank, has received deposit insurance approval from the Federal Deposit Insurance Corporation (FDIC). The approval clears the way for BankBlackwell to complete its $17.5 million public offering, required to commence operations. BankBlackwell is offering up to 1,664,000 shares of its common stock at a public offering price of $10.00 per share. The Bank is offering its common shares directly to individual and institutional investors. FDIC approval was the last regulatory hurdle for BankBlackwell. Earlier this year, BankBlackwell became the first African-American bank to obtain a federal banking charter in more than a decade. The Bank announced the FDIC approval at the kickoff of its national capital raising campaign in Boston and Atlanta last week. BankBlackwell intends to operate as a savings bank focused on offering selected financial services over the Internet to African-American individuals and churches and to those customers who seek value and convenience. BankBlackwell has received approval from the Office of Thrift Supervision to organize a federal savings bank and from the FDIC for federal deposit insurance. BankBlackwell has launched a grass roots capital raising campaign that targets major metropolitan areas with large African-American populations and strong community churches. Receptions are planned for Cleveland, Chicago, Detroit, Los Angeles, Miami, New York, Washington D.C. and other cities. For more information visit www.bankblackwell.com. Go to Target Market News homepage	11th Annual Edition Available 'Buying Power' report reveals surge by black households for consumer electronics Despite tighter economic times, African-American households are significantly increasing their expenditures on consumer electronics for the home, according to the newest edition of The Buying Power of Black America report. In many categories such as video games, televisions, CD players, cable TV service and sound equipment, black households are spending more on average than their white counterparts. According to the 103-page report, black households had $656 billion in earned income in 2003, an increase of 3.9% over the $631 earned in 2002. Read more and see the latest expenditure figures for black consumers SUBSCRIBE TODAY! The trade publication for in-depth coverage of Black Consumer Marketing and Media news ORDER THE WORKBOOK NOW! The sixth annual event examining the latest trends, findings and practices in marketing to African-American consumers Presentations from: America Online Arbitron Inc. Burrell Carol H. Williams Advertising E. Morris Communications Ethnic Print Media Group GlobalHue Hunter-Miller Group Images USA Nia Online NSights Worldwide LLC On Wheels Inc. R.J. Dale Advertising & P.R. Target Market News U.S. Census Bureau ...and more!