The Only Black Woman Bank Owner, Kiko Davis on Black Women Leadership
What does one of the largest Black-owned banks in the United States, a historic political campaign, and the power of empathy have in common? The answer is a Black woman.
Kiko Davis, 49, is the founder and President of Don Davis Legacy Foundation and trustee of the Donald Davis Living Trust, the majority stockholder of Detroit-based First Independence Bank making this dynamic leader the ONLY Black woman in the United States who currently owns a bank.
In the contemporary #BankBlack movement, it has become apparent that Black institutions must reflect Black people and our needs in full and from all angles. Davis stands strongly in this belief as well. When asked about why it is important for Black women to hold decision-making, leadership roles, Davis said, “We have an innate warrior spirit. It makes us inherently effective at leading [and] at winning. Strength, courage, intelligence and analytical ability are hallmarks of any great leader,” she told Rollingout who first interviewed Davis in 2018.
She continued, noting that it’s not enough to simply be a warrior, “We possess a level of empathy for people in general with a higher level of sensitivity towards women and minorities. Often times, it’s a skill set that unfortunately some men and non-minorities do not possess. They simply are socialized differently. I believe in order to lead people effectively you must be able to understand them, or at least want to.”
Davis noted that this leadership mindset was, in part, inspired by Shirley Chisolm. “I want to thank her for being fearless. She faced intense racism, bigotry, misogyny, and even several assassination attempts, all for the platform of equality, education, and justice. One of my favorite quotes by Chisolm is, ‘In the end, anti-Black, anti-female, and all forms of discrimination are equivalent to the same thing: anti-humanism.’” Chisolm was the first Black congresswoman and the first major-party Black candidate to run for president in the United States in 1972.
In the spirit of Chisolm and the legacy of Black women mentorship, Davis states, “I believe in the old adage: ‘To whom much is given, much is required’” quoting the popular biblical axiom. “I believe giving back is the rent you pay for occupying a seat at the table of success. Just like an apartment, if you don’t pay your rent, you can be evicted.” And Davis knows success well.
First Independence Bank, who just announced a strategic partnership with Comerica Bank, is one of the top 10 Black-owned banks in the country and one of the highest-rated banks on the BankBlackUSA mobile app. First Independence Bank originally established in 1970 currently holds $296 Million in assets and boasts a 100 ATM rating score and GOOD mobile/online rating score on the BankBlackUSA app—the highest possible scores in their category.
Davis’ ultimate motivation, a goal also shared by both First Independence Bank and many Black leaders, is, “Helping others reach their full potential adds more to your life than anyone could ever take away. Everyone needs a good mentor or teacher to guide them on their journey to greatness. Plus, it just down-right feels good.”
For more on Black banking news and ratings, subscribe to BankBlackUSA updates and follow @BankBlackUSA on Instagram, Twitter, and on LinkedIn.
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