Kiko Davis is a woman of many talents and achievements. She is the trustee of the Donald Davis Living Trust, the majority stockholder of First Independence Bank, the 10th largest African-American owned bank in the U.S., and the founder and president of the Don Davis Legacy Foundation. She is also the managing director of Groovesville Productions & Publishing LLC, which controls the Grammy Award winning music catalog of her late husband, Donald Davis, a legendary record producer and songwriter.
But what makes her stand out among her peers is that she is the only Black woman in the U.S. who owns her own bank. This is a remarkable feat considering that there are only 21 Black-owned banks in the country, and only 2% of bank executives are women of color.
How She Became a Bank Owner
Davis inherited her stake in First Independence Bank after her husband passed away in 2014. He had acquired the bank in 1980 and transformed it into a profitable and community-oriented institution. Davis decided to honor his legacy by continuing his vision and expanding the bank’s services and reach.
She told Rolling Out that she had to overcome many challenges and doubts as a Black woman in a male-dominated industry. She said that courage was her superpower, and that she used fear as a tool to conquer adversity. She also credited her faith in God and her supportive family and friends for helping her achieve her goals.
Why She Is an Inspiration for Other Women of Color
Davis is not only a successful businesswoman, but also a philanthropist and a mentor. She established the Don Davis Legacy Foundation in 2016 to perpetuate the legacy building efforts and initiatives envisioned and developed by her late husband. The foundation supports various causes such as education, health, arts, culture, and economic empowerment.
She also mentors young women of color who aspire to be leaders in their fields. She told AfroTech that she believes that Black women have an innate warrior spirit that makes them effective at leading and winning. She said that Black women possess a level of empathy and sensitivity towards women and minorities that is often lacking in other leaders.
She also advised young women of color to take risks, learn from their mistakes, and pursue their passions. She said that she looks up to Sheila Johnson, the co-founder of BET, CEO of Salamander Hotels and Resorts, and the first African American woman to attain a net worth of at least $1 billion, as an example of excellence, beauty, power, and grace.
How She Is Making a Difference in the Banking Industry
Davis is not only running a bank, but also making a difference in the banking industry. She is committed to providing financial services and education to underserved communities, especially those of color. She told Rolling Out that she wants to help close the racial wealth gap by increasing access to capital, credit, and homeownership for Black people.
She is also involved in various initiatives and organizations that promote diversity and inclusion in banking. She is a board member of the National Bankers Association, which represents the interests of minority-owned banks. She is also a member of the Federal Reserve Bank of Chicago’s Community Depository Institutions Advisory Council, which provides input on the economy, lending conditions, and regulatory issues.
She is also an advocate for innovation and technology in banking. She told AfroTech that she wants to leverage digital platforms and fintech solutions to reach more customers and provide better products and services. She said that she wants to make banking more convenient, efficient, and secure for her clients.
Conclusion
Kiko Davis is a trailblazer and a role model for Black women and entrepreneurs. She is the only Black woman in the U.S. who owns her own bank, and she is using her position to empower others and make a positive impact on society. She is an example of courage, leadership, and excellence that we can all learn from.
References
– [Meet Kiko Davis: The only Black woman in the U.S. who owns a bank](https://face2faceafrica.com/article/meet-kiko-davis-the-only-black-woman-in-the-u-s-who-owns-a-bank)
– [Meet Kiko Davis: The Only Black Female Bank Owner In The U.S](https://givingcompass.org/article/kiko-davis-only-black-female-bank-owner)
– [Meet Kiko Davis: The Only Black Female Bank Owner In The U.S](https://afrotech.com/kiko-davis-first-black-female-bank-owner-says-courage-is-her-superpower)
