Formed in 2021 when City First Bank of DC merged with Broadway Federal Bank of Los Angeles, City First is the largest Black led minority depository institution in the country and a certified CDFI and B Corporation. Its balance sheet is aimed at mission lending: affordable housing developers, charter schools, nonprofits, health clinics and small businesses in Washington DC and South Los Angeles. Commercial real estate and multifamily deals dominate, with small business credit and government guaranteed loans alongside.
Owners whose projects carry a community benefit will find underwriters who already understand the subsidy stack and the tenant mix. Retail style banking is secondary: there are only a handful of branches, deposit products are straightforward, and the digital platform is functional rather than slick. Very small loan requests may be better served by a CDFI loan fund.
Address: 1432 U Street NW, Washington, DC 20009
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