Bank of Anguilla
For 110 years, The Bank of Anguilla has served Mississippi's rural Sharkey and Issaquena counties. The economies of the two counties are primarily agricultural, benefiting from rich farming soil along the Mississippi River. As the only bank operating in Sharkey and Issaquena, The Bank of Anguilla plays a vital role in providing financial services to these rural, low-income communities. Bank employees and the Board proudly serve in various civic organizations and leadership roles.
Andy Anderson of Anguilla has been elected Chairman of the Mississippi Bankers Association (MBA) for 2020-2021. As MBA Chairman, Anderson chairs the association's Board of Directors and Executive Committee. The membership of the 132-year-old statewide trade association includes commercial banks and savings institutions operating in Mississippi. MBA members hold more than 95 percent of bank deposits in the state. Anderson serves as President, Chief Executive Officer, Chief Financial Officer and Director of Bank of Anguilla. He has over 37 years of banking experience, all with Bank of Anguilla.
The Mississippi Backwater Flood of 2019 has been a devastating event for the residents of the South Delta in Mississippi. The people, farms, businesses, homes, and wildlife have been affected for months with the impact lasting for years to come. Bank of Anguilla has been a huge part of the community for 115 years and will continue to support and provide relief to the South Delta in helping overcome this disaster.
The number of community development banks is rising at a time when the ranks of other financial institutions are shrinking. The special-purpose banks — a subset of community development financial institutions — serve low- and moderate-income communities. By becoming CDFIs, banks — along with credit unions and other types of lenders — can apply for certain funding from the Treasury Department and other agencies.
First Southwest Bank and Bank of Anguilla discuss the reasons why they became CDFI certified banks and Jeannine Jacokes of the Community Development Bankers Association talks about the benefits of CDFI certification for the community banking industry.