[ST. PAUL, MN] – Today, Governor Tim Walz and Lieutenant Governor Peggy Flanagan issued the following statements on the opening of First Independence Bank, a full-service, Black-owned bank in Minnesota.

Statement from Governor Walz:

“In Minnesota, we know that a strong economy is an equitable economy, and the opening of First Independence Bank is a notable milestone to achieving an economy that works for all Minnesotans. I offer my warmest congratulations to First Independence Bank, and I thank our entire banking community in Minnesota for providing the support and capital to make this a reality. I look forward to First Independence Bank’s positive impact in Minnesota as we continue to work together to build stronger communities.”

Statement from Lieutenant Governor Flanagan:

“I am excited to welcome First Independence Bank to Minnesota. Black communities have been systematically excluded from opportunities in Minnesota's economy, leading to significant gaps in wealth. The opening of First Independence Bank is an incredibly important step toward a stronger economic future for all Minnesotans. I am grateful to First Independence Bank’s commitment to creating a more equitable economy and look forward to their work here in Minnesota.”

More information on the opening of First Independence Bank in Minnesota can be found here .