In Memory of

Kim

D.

Saunders

Obituary for Kim D. Saunders

Kim Denise Saunders was born on June 1, 1960, in Washington, D.C. to Alice Eades Saunders and the late Calvin Saunders, Sr. She was the second of three children blessed by this union. Kim resided in Durham, North Carolina with her devoted husband, Barry Saunders, of twelve years. With Barry by her side, she transitioned to her heavenly home on July 29, 2023.

At an early age, Kim gave her life to Christ and was baptized at the Bethlehem Church of God Holiness, where she loved her church family and was a faithful member her entire life. She always made it a point to faithfully attend the yearly Conventions with her mother. She was a prayer warrior, who took time to pray about every detail of her life. Most of all, she prayed for her loved ones, business partners, and anyone who needed prayer.

When Kim was not working, she enjoyed watching Jeopardy and House Hunters with her husband. When young couples on the show purchased a house, she cheered for them harder than they did for themselves. She loved to see people get ahead, do well, and be the best they could be. She also enjoyed music; gospel, oldies, and jazz were her favorites.

After completing primary school in Glenarden Woods and Riverdale, Maryland, she was awarded a three-year scholarship to St. Catherine’s School, a prestigious college preparatory high school in Richmond, Virginia. Kim continued her education at the Wharton School of Business at the University of Pennsylvania, an Ivy League institution, and received her B. S. in Economics (Finance). Later, she received an honorary doctorate from Shaw University in North Carolina.

Kim was a loving and devoted person to all who knew her. She wanted the best for others, and she wanted to be the best for others. She was a woman of excellence. Her passion was to serve those who needed financial education and access to financial capital to accomplish their goals and dreams. Her servant’s heart was evident through the life she lived.

Professionally, Kim was the Co-Founder and Co-Managing Director of Legacy Two Advisors, LLC., which is the investment management firm for the MDI Keeper’s Fund (“MKF”). It is a national CRA-Social Impact MDI Capital Fund and a private equity fund that is providing Tier I capital to minority depository institutions (“MDI”) across the country.

Kim also served as the president and CEO of the National Bankers Association (‘NBA”), the leading trade association for the nation’s minority banks from 2018 through May 2021. She served on the NBA’s Board of Directors since 2013 and was appointed its President and CEO in October 2018. She is the second female president and CEO since the NBA’s founding in 1927.

Kim had over 32 years of financial services experience, including nearly two decades of working in leadership roles with MDIs and CDFI banks. She is the founder, president and CEO of the Eads Group, Inc. (“EGI”), a community-bank-focused multidisciplinary consulting firm. She led the EGI in its commitment to serve MDIs and Community Development Financial Institutions (“CDFIs”). Prior to founding EGI, she served as president and CEO of M&F Bancorp, Inc. and its wholly owned subsidiary, Mechanics & Farmers Bank (“M&F”) from 2007 to 2014. During her tenure, she led M&F’s acquisition of Mutual Community Savings Bank, Inc., SSB and profitably shepherded M&F through the Financial Crisis.

Before serving as president and CEO of M&F, Kim was president and CEO of Consolidated Bank and Trust Company (“CB&T”) from 2003 to 2007, where she helped guide the company back to profitability for the first time in six years. She was the second female president and CEO in CB&T’s more than century-old history, a distinction she also held at M&F. Kim returned CB&T to full regulatory compliance and ushered the Bank’s sale to a majority woman-owned and managed publicly traded two-bank holding company, the Abigail Adams National Bancorp, Inc. (acquired by Premier Financial Bancorp, Inc. in 2009).

Kim has been involved in the start-up phase of three de novo banks; one of which is CDFI bank, City First Bank of DC (“CFB”). She served as CFB’s Executive Vice President and Chief Credit and Lending Officer from inception through its first 5 years. Due to her leadership, management, and the track record of the Bank’s lending activities, CFB enjoyed its status

as the recipient of the largest Bank Enterprise (“BEA”) Award in 2002 and fourth largest in 2000 in the United States, a $2 million Core Award for additional equity in the Bank and a $73 million New Market Tax Credit Allocation in 2002. Kim launched her banking career with The Chase Manhattan Bank in New York City.

In January 2021, Kim began her service as a Public Interest Independent Director for the Federal Home Loan Bank of Atlanta. She served on Citibank’s Community Development Entity’s Advisory Board and the National Foundation for Consumer Credit Counseling’s Housing Advisory Committee. From 2019-2021, she served as a member of the North Carolina Department of Transportation’s First Commission. From 2018-2019, Kim served as a Senior Advisor for the Milken Institute’s Center for Financial Markets. Her former Board service included the NC Museum of Art Foundation (Treasurer), NC Chamber of Commerce, Wake Forest Medical Center Board of Visitors, NC Bankers Association, NC Central University’s Board of Trustees, and the United Way of the Greater Triangle. She also formerly served on the Independent Community Bankers Association Minority Banks Council (vice chair), the Federal Reserve Bank of Richmond’s Community Depository Institutions Advisory Council, the inaugural Consumer Financial Protection Bureau’s Community Bank Advisory Council, and the FDIC’s Advisory Committee on Community Banking.

Kim is survived by her loving husband, Barry Saunders, her stepchildren Weslye Saunders of Miami, Florida, Danielle Saunders-Murray (Maurice) of Gary, Indiana; three step grandchildren, Sani’yah Saunders-Chapman, Sebastian and Kamryn Saunders; two brothers, Robert Saunders of Washington, D.C., Calvin Saunders, of Glenarden, Maryland; her loving mother who she cared for, Alice Saunders of Glenarden, Maryland; one aunt, Elsie Harvey of Washington, D.C.; her loving nieces, Kayla Saunders and Hailey Saunders; one nephew, Gene, and a host of cousins, family, and friends