One United: largest black-owned bank

The Boston Bank of Commerce merged with Los Angeles-based Family Savings Bank recently, forming the largest black-owned bank in the country.

The new entity, dubbed OneUnited Bank, boasts $500 million in assets and operates branches in Massachusetts, California, and Florida.

OneUnited Senior Counsel Robert Cooper said the bank will use its increased capital and the loan expertise of the former Family employees to offer larger loans to inner-city customers.

Family offered a variety of loans, including mortgages to lower- and moderate-income families.

"We expanded to be able to make larger loans so people can expand their businesses and employ people," said …