Ellington

An African American-owned bank will open a new branch on Livingston Road today with plans to invest in the future of Jackson.

Carlton G. Stephen, 57, regional vice president and senior officer of Liberty Bank and Trust Company, says the bank's opening comes at an opportune time for the city.

"We have located this branch in an area that requires a significant amount of development and revitalization, but this is how the bank exercises its corporate social conscious," says Stephen, who is a native of Harlem, N.Y.

Stephen, who will oversee operations at the Livingston Road branch, says Liberty Bank provides "minority representation" by hiring staff and local building contractors.

"Before the bank opens one checking account or makes one loan, we'll have added real economic value to the city of Jackson," he says. "t's not rocket science, it's just good business."

Liberty Bank and Trust Company is based out of New Orleans, La. Alden J. McDonald has been the president and CEO of Liberty Bank since its inception in 1972. It is the only African American-owned bank in the state of Mississippi and the third largest African American-owned bank in the United States. The bank operates 21 branches in six states and nine cities. This is the second Jackson branch.

Liberty Bank and Trust Company will have a grand opening of their new, state-of-the-art branch today from 4:30 p.m. to 6:30 p.m. at 2325 Livingston Road, next to the Jackson Medical Mall. The event will feature hors d'oeuvres and Champagne, along with live entertainment.