City First Bank Taps John McCargo as VP, Portfolio Manager
Howard MBA Alum, John McCargo c/o'98 has joined City First Bank of DC. The Washington, DC commercial bank focused specifically on community development. As Vice President, Portfolio Manager, he will focus on relationship management and commercial lending.
Most recently McCargo served as a Vice President and Commercial Lender at Millennium Bank in Sterling Va.
With nearly 15 years of banking experience, he has also held positions at PNC/Mercantile Bank, Chevy Chase Bank and Wachovia/Wells Fargo Bank. McCargo holds a BS in Finance from Hampton University and an MBA from Howard University.
While other banks may focus on larger deals, City First Bank focuses on small business and start-ups with a legal lending limit of $3 million. Much like Silicon Valley bank, City First Bank grows with their clients. The bank finances dozens of small companies, non profit and social service agencies, charter schools and real estate developers, particularly those involved in developing or renovating affordable housing.
City First Bank work very creatively with socially responsible investors, public agencies and financial intermediaries to provide a double bottom line – permitting their depositors to earn a superior return while their deposit goes to work in the DC neighborhoods that need financing most.
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Source: City First Bank
