| Summary: | Bank founder Milton Davis was born in 1932, in Jasper, Alabama. Davis graduated from Morehouse College with a sociology degree in 1953 and came to Chicago in 1958 to attend the University of Chicago. Davis was the co-founder and chairman emeritus of ShoreBank Corporation, the nation's first community development bank. In 1973, Davis and his associates bought the bank and within five years, they were able to reverse the neighborhood's decline. Davis served as bank president from 1973 to 1982, and chairman from 1983 to 1996. In 1995, ShoreBank merged with another bank holding company, becoming a half-billion dollar-plus financial institution. By the time Davis retired as the bank's chairman emeritus in 2002, ShoreBank had invested more than $2 billion in underserved communities in Chicago and across the country. Davis served as a board member of CORE, the Chicago Community Trust, Columbia College, the Field Foundation of Illinois and ETA for the Creative Arts. He passed away on February 14, 2005 at age 73.
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