United Bancshares, Inc. is an African American controlled and managed bank holding company for United Bank of Philadelphia, a commercial bank chartered in 1992 by the Commonwealth of Pennsylvania’s Department of Banking. We provide full-service community banking in Philadelphia’s neighborhoods that have traditionally been underserved by commercial banks.
We are a member of the Federal Reserve System, a certified Community Development Financial Institution, and a certified Community Development Entity. We currently have assets totaling $73 million, twenty-seven ATM locations, and three full-service branch offices located in densely populated growth communities in Philadelphia.
Our History
Our chartering in 1992 by the Commonwealth of Pennsylvania’s Department of Banking brought together the rich diversity of leadership that had and continue to have a tremendous stake in this region. They worked together with the visionary founders of United Bank of Philadelphia to raise capital for the launching of this minority-owned and controlled bank with a mission of providing financial services to individuals and organizations that had been traditionally underserved by the financial sector.
In the years since, we have continued this rich tradition of economic development and community service. As we move forward, our goal is to create new relationships that have a common objective of building and sustaining urban communities.
Our Role
Despite a period of economic growth, not everyone has benefited equally. Wealth disparities continue to exist and the growth of ethnic minorities throughout the region represent new challenges and opportunities. We believe that through effective leadership, collaboration and innovation, change can occur and everyone can benefit. We want to encourage this change by focusing on the banking needs of:
- Small Business Owners. With the proper access to capital and affordable banking services, small businesses can drive employment growth and help spread economic opportunity.
- Affordable Housing Developers. Homeownership is essential to economic prosperity. We are committed to doing our part to provide financing for the construction and rehabilitation of affordable housing throughout the city.
- Churches and Other Community Service Providers. Churches and nonprofit organizations keep communities going. We are committed to providing financing options to ensure that these services continue to support families that need a helping hand.
- Individuals. Everyone needs access to affordable banking services. Simply put, individuals can’t be full participants in our economic system without checking and savings accounts. Providing these basic services can help move individuals and families out of despair to empowerment.
- Corporations & Institutions. We can expand our impact in community and economic development with increased deposits and other fee-income relationships from the corporate sector. As our deposit base grows, our capacity to lend to individuals, small businesses and nonprofits in the communities increases.
Our commitment to community revitalization is demonstrated by its consistent achievement of ratings of Outstanding by the Federal Reserve Bank of Philadelphia in community reinvestment. We’re quite proud of this consistent recognition.
We were the first bank in Pennsylvania to become a certified community development financial institution (CDFI), and are still the only commercial bank in Philadelphia to hold that designation. We’ve also been certified by the Minority Supplier Diversity Council.
Management
The Bank is currently under the direction of Evelyn E. Smalls, President and CEO, who has many years of banking experience. The Board of Directors, Chaired by founding director L. Armstead Edwards, is actively involved in the business, academic, and religious leadership in the Philadelphia area. Assisting Ms. Smalls is a senior management team of dedicated professionals who bring a wealth of banking experience and expertise.