Local Bank: State Street Announces Additional Round of Deposit Placements through Minority Depository Institutions and Community Development Financial Institutions

Morningstar
Monday, September 16, 2024

"State Street Corporation (NYSE: STT) today announced that it has placed an additional round of deposits through two minority depository institutions (MDIs) and Community Development Financial Institutions (CDFIs), Massachusetts-based Leader Bank and Oklahoma-based Local Bank. These placements are the latest installment of the firm's $100 million program that launched earlier this year to facilitate low-cost, stable deposit funding to the communities it serves, and 75% of the funds have been placed."