The financial industry has long been a boys’ club, but things are changing. Women-owned banks are taking charge, reshaping the way we think about banking, investment, and community. These trailblazing institutions are managing serious assets, driving financial inclusion, and fueling small businesses—all while making waves in the larger economic landscape.
But before we dive into the present, let’s take a quick look at the past.
A Brief History of Women in Banking
Maggie Lena Walker, the first African-American woman to charter a bank and the first African-American woman to serve as a bank president
Women have been breaking barriers in finance for over a century, yet their road to leadership has been anything but smooth.
- 1800s – Early 1900s: Women were largely excluded from banking careers, with most financial institutions refusing to hire them. The rare exceptions were positions as bank tellers or bookkeepers, considered “appropriate” for women.
- 1910s – 1930s: The suffrage movement coincided with women gaining small footholds in banking. Some banks started hiring women in clerical roles, especially during World War I, but leadership positions remained off-limits.
- 1960s – 1970s: With the rise of the women’s rights movement, more women entered finance, but discrimination was rampant. It wasn’t until 1974 that the Equal Credit Opportunity Act was passed, making it illegal for banks to deny women credit based on gender. Before this, women often needed a male co-signer just to open a business loan or credit card.
- 1980s – 1990s: More women rose through the ranks, and a few even started their own banks. In 1983, Maggie Lena Walker became the first woman to charter and run a bank in the U.S., paving the way for future female-led financial institutions.
- 2000s – Today: Women now hold leadership roles at major banks, and women-founded institutions continue to challenge industry norms. Yet, even in 2024, women still hold fewer than 10% of CEO roles at U.S. banks, and funding gaps for female entrepreneurs persist.
Women-owned banks remain a critical force for change—ensuring financial access, promoting equity, and investing in communities that need it most.
Women-Owned Banks with a Presence in Texas
Here’s a look at some of the women-led financial institutions making an impact in Texas.
Agility Bank (Texas)
- Total Assets: $106 million (as of 2023)
- Founded: 2022
- Founder & CEO: Lauren Sparks
Agility Bank, based in Houston, is the first primarily women-owned and women-led minority depository institution (MDI) in the U.S. It was chartered to serve women entrepreneurs, business owners, and professionals. The bank’s focus is on providing innovative financial solutions to help women grow their businesses and access capital.
The First National Bank in Falfurrias (Texas)
- Total Assets: $74.9 million
- Founded: 1934
Serving the South Texas region for nearly a century, this bank plays a vital role in supporting small businesses and local communities.
Texas National Bank of Jacksonville (Texas)
- Total Assets: $443.6 million
- Founded: 1985
With branches in Jacksonville, Tyler, and Longview, this bank is a significant player in Texas’ financial sector. It specializes in commercial lending and offers essential financial services to individuals and businesses.
Santa Anna National Bank (Texas)
- Total Assets: $75 million
- Founded: 1933
Located in Santa Anna, Texas, this independent bank has been a key financial institution for generations. Its focus on community banking and personal service sets it apart from larger national banks.
First Bank Texas (First National Bank and Trust Company of Weatherford) (Texas)
- Total Assets: $989,499,000
- Founded: 1880
With deep roots in Texas, First Bank Texas provides traditional banking services while maintaining a strong focus on supporting local businesses and economic growth.
Commercial National Bank of Texarkana (Texas, Arkansas)
- Total Assets: $312 million
- Owner: Julia Peck Mobley: She inherited the bank from her father, George Peck, in 1984 and is the sole shareholder. Her son Phillip currently serves as CEO.
Serving customers in both Texas and Arkansas, this bank offers a mix of personal and business banking services, with an emphasis on community engagement and economic development.
Women-Owned Banks Across the U.S.
Women-led banks aren’t just shaping Texas—they’re making an impact nationwide.
Stearns Bank (Minnesota)
- Founded: 1912
- CEO: Kelly Skalicky
A powerhouse in small business lending, Stearns Bank has a strong reputation for supporting women entrepreneurs.
Bank of Cherokee County (Oklahoma)
- Total Assets: $319.2 million
- Founded: 1907
Susan Chapman Plumb, the only female Native American bank owner in the U.S., is the leader of this institution, which plays a critical role in financial inclusion, particularly for Cherokee County’s business community.
First Women’s Bank (Illinois)
- Founded: 2021
- CEO: Marianne Markowitz
Marianne Markowitz
As the first women-founded and women-led bank in the U.S. since 1994, First Women’s Bank is the only bank ever formed to strategically serve the women’s economy and close the gender lending gap nationally.
Spring Bank (New York)
- Founded: 2007
- Total Assets: $177 million
This New York-based institution is deeply committed to serving underbanked communities.
The Harbor Bank of Maryland (Maryland)
- Founded: 1982
- Total Assets: $382 million
A leader in minority banking, Harbor Bank is a critical financial institution for underserved businesses and entrepreneurs.
Why Women-Owned Banks Matter
Women-led banks are more than just financial institutions—they are catalysts for economic growth. Studies consistently show that when women control capital, they reinvest it in their communities, creating jobs, fostering entrepreneurship, and driving economic development.
Yet, despite their success, women in finance still face significant barriers:
- Access to capital remains a challenge for women entrepreneurs. Women receive only about 2% of venture capital funding despite owning 40% of U.S. businesses.
- Bank leadership remains male-dominated, with only a handful of women leading major banks or financial institutions.
- Women continue to be underbanked, especially in underserved communities, where women-led financial institutions can be life-changing.
Texas Leading the Way
While there are still too few women-owned banks in the U.S., Texas is home to a growing number of financial institutions that are actively supporting women-owned businesses. Whether you’re looking for a local banking partner or want to support a more inclusive financial system, these Texas-based banks are making an impact.
So, the next time you’re looking for a bank, consider supporting one that not only provides financial services but also invests in the communities that need it most. Women are leading the way in finance—let’s follow their lead.
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