Two generations reflect on leading largest Black-owned bank

The largest Black-owned bank in the country was founded right here in New Orleans. Liberty Bank and Trust Company is the only Black bank in the United States with more than a billion dollars in assets.

The bank got its start in the 1970s and Alden McDonald Jr. was its first president.

McDonald was the President & CEO of Liberty Bank and Trust Company for 50 years, until a few months ago when he passed the torch to his son, Todd, who had been working with the bank for 19 years.

“First few years, I didn’t think we would make it,” Alden McDonald Jr said.

For a long time, it didn’t seem that of any Alden’s three children would follow in their father’s footsteps. Todd finally came around in his final year of college when a friend suggested he ask his dad for a job, but even then he had not grasped the importance of his father’s legacy.

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