August 29, 2016 In 10 years, Mississippis population under the age - - PowerPoint PPT Presentation

CDFI Banks in the Southeast: Embracing Opportunities and Addressing Challenges August 29, 2016

In 10 years, Mississippi’s population under the age of 19 will be significantly Minority

2000

50,000 100,000 150,000 5-9 15-19 25-29 35-39 45-49 55-59 65-69 75-79 Nonwhite White

2025

50,000 100,000 150,000 5-9 15-19 25-29 35-39 45-49 55-59 65-69 75-79 Nonwhite White

Creating opportunity where it is needed most. Arkansas Louisiana Mississippi Tennessee Source: Mississippi Institutions of Higher Learning

Creating opportunity where it is needed most. Arkansas Louisiana Mississippi Tennessee

Nearly half of Mississippi’s African American Children Live in Poverty

15% 26% 47% 13% 32% 38% 0% 10% 20% 30% 40% 50% White Hispanic African American Mississippi United States

Source: Population Reference Bureau, analysis of data from the U.S. Census Bureau, Census 2014 American Community Survey

Creating opportunity where it is needed most. Arkansas Louisiana Mississippi Tennessee

Louisiana Population Projections

Nonwhite child population projected to grow faster than white child population

200,000 400,000 600,000 800,000 1,000,000 1,200,000 1,400,000 2015 2020 2025 2030 White Nonwhite

Child Poverty Rates Highest Among Children of Color

13% 32% 48% 0% 10% 20% 30% 40% 50% 60% White Hispanic African American

Sources: State of Louisiana Population Projections; Population Reference Bureau, analysis of data from the U.S. Census Bureau, Census 2014 American Community Survey

Creating opportunity where it is needed most. Arkansas Louisiana Mississippi Tennessee

Major disparities exist in access to a high quality education in Mississippi

School District Ratings <50% African American

26% 55% 17% 1%

School District Ratings >50% African American

1% 6% 44% 47% 1% A B C D F

Source: Mississippi Department of Education; HOPE estimates

Creating opportunity where it is needed most. Arkansas Louisiana Mississippi Tennessee

Unemployment Rates for Mississippi’s African Americans remain high

0.00% 5.00% 10.00% 15.00% 20.00% 2007 2008 2009 2010 2011 2012 2013 2014 U.S. White U.S. African-American MS White MS African-American

Source: Economic Policy Institute analysis of Current Population Survey Data

Creating opportunity where it is needed most. Arkansas Louisiana Mississippi Tennessee

Unbanked Households by Race and Geography

6% 6% 7% 4% 37% 29% 27% 21% 40% 42% 20% 18% 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% AR MS LA US White African American Hispanic

Source: 2013 FDIC National Survey of Unbanked and Underbanked Households

Creating opportunity where it is needed most. Arkansas Louisiana Mississippi Tennessee

Mid South Prime Lending to White and African American Borrowers has been on Decline

15,380 15,976 12,225 153,902 132,240 90,985

• 25,000

50,000 75,000 100,000 125,000 150,000 175,000 2012 2013 2014 Number of Prime Mortgages African American White

Source: PolicyMap Analysis of HMDA Prime Loans 2012-2014

Creating opportunity where it is needed most. Arkansas Louisiana Mississippi Tennessee

Total Small Business Lending in Mid South States has contracted since Great Recession

$4,482,056 $2,926,286 $- $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 $3,000,000 $3,500,000 $4,000,000 $4,500,000 $5,000,000 2007 2014 Thousands

Source: FFIEC 2007; 2014

Creating opportunity where it is needed most. Arkansas Louisiana Mississippi Tennessee

Contact

Ed Sivak HOPE (601) 944-4174 ed.sivak@hope-ec.org www.hope-ec.org www.hopecu.org