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Article: Good neighbor in a tough neighborhood. (Broadway Federal Bank, operating in South Central Los Angeles, California)(Community Banking)(Company Profile)
- Article from:
- American Banker
- Article date:
- March 11, 1996
- Author:
CopyrightCOPYRIGHT 1996 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Barbed wire, barred windows, graffiti - if it signifies urban blight, South Central Los Angeles has it.
But situated among the endless acres of cement and asphalt, sun-bleached stucco apartment complexes, and substandard single-family homes is Broadway Federal Bank, an oasis of sorts.
Dedicated to turning a profit while bettering his poverty-ridden community, Broadway president and chief executive officer Paul C. Hudson has taken on a challenge few bankers would envy.
"There's the theory that a rising tide lifts all boats, but some say that's not the case in South Central," Mr. Hudson said. "Economically, California isn't doing as well as the rest of ...