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Wealthy Sistas® Legacy Bank President & Founders, Deloris Sims & Margaret Henningsen

  • Broadcast in Business
Wealthy Sistas

Wealthy Sistas


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DELORIS SIMS, is President,one of the founders and a shareholder of Legacy Bank, which is the first African American, women owned, chartered bank in the state of Wisconsin. Ms Sims culminated an extensive prestigeous 28 yr career as the VP of Firstar Bank. She holds several seats on various commitee, such as the Ethics Committee. After retirement, Mrs. Sims and two founders, Margaret Henningsen and Shirley Lanier, raised over $6,000,000.00 in less than a year to capitalize. On July 27, 1999, Legacy Bank opened its doors, and under the leadership of Deloris Sims, has since grown to 206 million in assets. Amoung numerous other awards, Mrs. Sims is a recipient of the first-ever Governor’s Financial Literacy.

Margaret J. Henningsen, is a founder of Legacy Bank. At 50 she followed her dream of starting a bank that would cater to the banking needs of her community. She was the first President of Legacy Bank. A longtime advocate for empowering women & minorities she recognized that access to capital and the ability to create wealth is paramount. Today, the bank has assets of over two hundred million; provides banking services to thousands of underserved people; funded more than 1,000 small business, commercial and economic development loans creating thousands of jobs. Ms Henningsen focuses on the bank’s mission of banking the unbanked and underserved markets. Those banking programs have become a national model for community banks that want to reach out to untapped markets. Ms Henningsen also serves as the President of the Wisconsin Community Development Legacy Fund that has received three allocations of New Markets Tax Credits -2005; 2007 & for more than 300 hundred million dollars.