State Street Announces Additional Round of Deposit Placements through Minority Depository Institutions and Community Development Financial Institutions
State Street Corporation (STT)
Last state street corporation earnings: 4/17 07:38 am
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Source: Business Wire
Firm has placed more than 75% of the committed $100M in deposits through MDIs / CDFIs in 2024;Will convene CEOs of all announced MDI/CDFI Banks to help further drive impact for their communities BOSTON--(BUSINESS WIRE)--State Street Corporation (NYSE: STT) today announced that it has placed an additional round of deposits through two minority depository institutions (MDIs) and Community Development Financial Institutions (CDFIs), Massachusetts-based Leader Bank and Oklahoma-based Local Bank. These placements are the latest installment of the firm’s $100 million program that launched earlier this year to facilitate low-cost, stable deposit funding to the communities it serves, and 75% of the funds have been placed.“We are proud to once again partner with leading MDIs and CDFIs through our partnerships with Leader Bank and Local Bank, two institutions playing a vital role in providing opportunities for underserved communities and helping to foster economic empowerment,” said Ron O’Ha
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