COVID-19 and Its Impact on Minority-Owned Banks

Salvador Contreras and Amit Ghosh

AEA Papers and Proceedings, 2022, vol. 112, 313-18

Abstract: Employing a difference-in-differences framework, we examine the effect of COVID-19 on various performance metrics of minority-owned banks relative to peer banks. We find little evidence of worsening performance of minority-owned banks, except for Asian-owned banks. In some instances, minority banks show improved performance. We find a decline in nonperforming single-family residential loans for Hispanic-owned banks. Moreover, minority banks have disbursed more Paycheck Protection Program (PPP) loans than their matched non-minority counterparts. Their resilient performance indicates that minority banks are well positioned to aid in the ongoing economic recovery.

JEL-codes: E32 E63 G21 I12 I18 J15 (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1257/pandp.20221114

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