An Official Minority Depository Institution
Banking with Purpose. Community at the Core.
Devon Bank is honored to be officially recognized Minority Depository Institution (MDI) by the Federal Deposit Insurance Corporation (FDIC). This designation reflects our deep and enduring commitment to empowering underrepresented and underserved communities through inclusive, accessible, and community-driven banking.
We believe that banking should uplift, not exclude—and we’re proud to serve the beautifully diverse communities that make up our neighborhoods.
What is an MDI?
A Minority Depository Institution is a federally designated bank where a majority of ownership or board membership is composed of minority individuals, and where the institution commits to meeting the financial needs of minority communities. As an MDI, Devon Bank plays a critical role in expanding access to capital, increasing financial literacy, and promoting economic equity.
Leadership with Purpose: Meet Our Board of Directors
Our Board of Directors reflects the diversity, vision, and commitment that defines Devon Bank. We are proud to be guided by individuals who bring various perspectives, experiences, and cultural insight to our mission.
Leslie Davis
Board Member
Lawrence Friedman
Board Member
Jafer Hasnain
Board Member
Michelle Gooze-Miller
Board Member
Carlos Legaspy
Board Member
Anthony Simpkins
Board Member
Rooted in the Community Since 1945
Devon Bank was founded with a commitment to serve a growing and evolving community—and we’ve never lost sight of that mission. Our MDI designation is not a new beginning but a powerful acknowledgment of who we’ve always been.
Want to Learn More?
We’d love to talk about how you can bank with purpose—whether you’re a customer, depositor, business partner, or simply someone who believes in inclusive finance.
Email Penny Wallingford at [email protected]
OR
Call us at 773-423-2429.
*Please do not send confidential information via email.