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Milton Davis

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Information about Milton Davis

Profile image of Milton Davis

Profession

Category:
BusinessMakers
Occupation(s):
Bank Chairman

Favorites

Favorite Color:
Blue
Favorite Food:
Pasta
Favorite Time of Year:
Spring
Favorite Vacation Spot:
San Juan, Puerto Rico
Favorite Quote:
We Can Do It.

Birthplace

Born:
1/10/1932
Birth Location:
Jasper, Alabama

Profession

Category:
BusinessMakers
Occupation(s):
Bank Chairman

Favorites

Favorite Color:
Blue
Favorite Food:
Pasta
Favorite Time of Year:
Spring
Favorite Vacation Spot:
San Juan, Puerto Rico
Favorite Quote:
We Can Do It.

Birthplace

Born:
1/10/1932
Birth Location:
Jasper
See how Milton Davis is related to other HistoryMakers

Biography

Chicago banking pioneer Milton Davis is the co-founder and chairman emeritus of ShoreBank Corporation, the nation's first community development bank. It is the leading bank holding company committed to increasing economic opportunities for underserved urban and rural communities.

Davis was born to a father who was a school principal and a mother who was a teacher on January 10, 1932 in Jasper, Alabama. He graduated Morehouse College with a sociology degree in 1953 and came to Chicago in 1958 to attend the University of Chicago graduate school. While working at South Shore National Bank, he and three friends frequently met to discuss ideas for a community-oriented bank.

Their opportunity for bank ownership came when the South Shore bank attempted to move to the Loop to escape a changing neighborhood. South Shore residents protested the move and federal bank regulators denied it. The bank was put up for sale.

In 1973, Davis and his associates bought the bank with $800,000 in capital and a $2.4 million bank loan. They attracted depositors in those early days by personally visiting their homes. Within five years, they were able to reverse the neighborhood's decline. In 1995, ShoreBank merged with another bank holding company, becoming a half-billion dollar-plus financial institution.

Davis, who had been actively involved with integrating public schools and opening housing, retired in 2000. He had been a board member of CORE, the Chicago Community Trust, Columbia College, the Field Foundation of Illinois, and ETA for the Creative Arts.

Milton Davis passed away on February 14, 2005.

See how Milton Davis is related to other HistoryMakers
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  • Tape: 1 Story: 1 - Milton Davis narrates his photographs, pt.1
  • Tape: 1 Story: 2 - Milton Davis narrates his photographs, pt.2
  • Tape: 2 Story: 1 - Slating of Milton Davis' interview
  • Tape: 2 Story: 2 - Milton Davis lists his favorites
  • Tape: 2 Story: 3 - Milton Davis talks about his father and mother
  • Tape: 2 Story: 4 - Milton Davis talks about his siblings
  • Tape: 2 Story: 5 - Milton Davis describes his earliest childhood memories
  • Tape: 2 Story: 6 - Milton Davis describes the sights, sounds and smells of his childhood
  • Tape: 2 Story: 7 - Milton Davis describes his neighborhood and his childhood personality
  • Tape: 2 Story: 8 - Milton Davis describes his awareness of educational inequality as a youth
  • Tape: 2 Story: 9 - Milton Davis talks about his favorite subject, reading
  • Tape: 2 Story: 10 - Milton Davis talks about his grandparents' influence on him
  • Tape: 2 Story: 11 - Milton Davis describes influential people in his life including Lueada Meadows Smith, a local librarian
  • Tape: 3 Story: 1 - Milton Davis talks about his grade school years
  • Tape: 3 Story: 2 - Milton Davis describes his decision to attend Morehouse College
  • Tape: 3 Story: 3 - Milton Davis talks about his experience at Morehouse College
  • Tape: 3 Story: 4 - Milton Davis talks about Benjamin Mays, whom he admired
  • Tape: 3 Story: 5 - Milton Davis talks about those he remembers from Morehouse College including Benjamin Mays and Jim Webb
  • Tape: 3 Story: 6 - Milton Davis reflects on his decision to join CORE
  • Tape: 3 Story: 7 - Milton Davis talks about his activities in CORE
  • Tape: 3 Story: 8 - Milton Davis talks about why he decided to major in sociology
  • Tape: 3 Story: 9 - Milton Davis describes his experiences at Washington University in St. Louis and Northwestern University where he first met Ron Grzywinski
  • Tape: 3 Story: 10 - Milton Davis describes Chicago in the late 1950s as a resident of the Woodlawn area
  • Tape: 4 Story: 1 - Milton Davis talks about the beginning of South Shore Bank
  • Tape: 4 Story: 2 - Milton Davis talks about raising money to purchase South Shore Bank
  • Tape: 4 Story: 3 - Milton Davis talks about buying the charter for South Shore bank
  • Tape: 4 Story: 4 - Milton Davis describes creating a model for development banking
  • Tape: 4 Story: 5 - Milton Davis describes winning the community's trust
  • Tape: 4 Story: 6 - Milton Davis talks about Bill Clinton's support and legislation for community development banks
  • Tape: 4 Story: 7 - Milton Davis describes how banks became invested in community development
  • Tape: 4 Story: 8 - Milton Davis talks about the supporters of South Shore Bank
  • Tape: 5 Story: 1 - Milton Davis describes the impact of development deposits at South Shore Bank
  • Tape: 5 Story: 2 - Milton Davis talks about the South Shore Bank Neighborhood Institute
  • Tape: 5 Story: 3 - Milton Davis describes how South Shore Bank broke precedent by financing the properties of African Americans in low-income communities
  • Tape: 5 Story: 4 - Milton Davis talks about the community development model across the nation
  • Tape: 5 Story: 5 - Milton Davis talks about South Shore Bank's venture capital firm
  • Tape: 5 Story: 6 - Milton Davis talks about the founders of South Shore Bank, Ron Grzywinski, Mary Houghton, and James Fletcher
  • Tape: 5 Story: 7 - Milton Davis talks about factors stimulating the growth of South Shore Bank
  • Tape: 5 Story: 8 - Milton Davis describes his community involvement and his work with ETA Creative Arts
  • Tape: 5 Story: 9 - Milton Davis reflects on his career
  • Tape: 5 Story: 10 - Milton Davis describes his hopes and concerns for the African American community
  • Tape: 6 Story: 1 - Milton Davis shares his advice for today's youth
  • Tape: 6 Story: 2 - Milton Davis talks about his parents' deaths
  • Tape: 6 Story: 3 - Milton Davis talks about how he would like to be remembered
  • Tape: 6 Story: 4 - Milton Davis reflects upon his legacy