Minority-owned banks in the U.S. have stayed resilient during this year's industry turmoil thanks in part to government and industry support, despite concerns that they would struggle to survive, executives said, Reuters reported. Minority depository institutions, or MDIs, "have emerged stronger now coming out of the pandemic and the recent crisis due to the government support and help from the big banks," James Sills, CEO of M&F Bank, a Black-owned lender based in Durham, N.C. He spoke at an MDI event in New York on Thursday hosted by JPMorgan Chase & Co. There were 148 MDIs in the U.S. at the end of March, according to the Federal Deposit Insurance Corp. In just over a decade, more than 25% have disappeared due to consolidation or insolvency. "Coming out of the crisis, as a sector we now have a stronger return on investment, more income avenues and are better placed as we head into a possible recession," said Robert James, CEO of Carver State Bank headquartered in Savannah, Ga.