"JEFF YASTINE, NIGHTLY BUSINESS REPORT CORRESPONDENT: Beverly Stephens is navigating the troubled landscape of the real estate market, buying this three bedroom fixer upper in an Oklahoma City suburb. Her mortgage came from Bank2
, a financial institution unknown to many people, but not to a growing number of Native Americans.
BEVERLY STEPHENS, BANK2 MORTGAGE CUSTOMER: For me I think it's very important. And I like to do business with my tribe and knowing that Bank2 is a Chickasaw bank and it makes me feel good that I can help support them and they are helping support me.
YASTINE: That's right. Bank2, headquartered in Oklahoma City, is owned by one Native American tribe, the Chickasaw nation
. The tribe's seat of government is about 90 minutes away on tribal lands in Ada, Oklahoma. CEO Ross Hill has guided Bank2 since it opened its doors nine years ago.
ROSS HILL, CEO, BANK2: It's in its beginning stages of success. I think the future is really bright for Bank2 and it's all predicated on our desire to serve certain niches, more than anything else.
YASTINE: One big niche, home mortgages for Native Americans both on reservations and off. Bank President Rod Whitson sees that as a major road for growth.
ROD WHITSON, PRESIDENT, BANK2: The reality is that market, because the tribes are doing so well economically, that market is growing rapidly. So the tribes are very interested in getting these people into homes as well, too. So that market is expanding as the economics of the tribes get better. So a lot of Native Americans are getting homes right now."
Get the Story:
"Native American Entrepreneurs"-Bank2
(PBS Nightly Business Report 4/27)
NPR: The successes of the Chickasaw Nation
(4/27) PBS: Success comes to the Winnebago Tribe