Home People in the News Legacy Bank co-founder and CEO ‘Dee’ Sims dies at 81

Legacy Bank co-founder and CEO ‘Dee’ Sims dies at 81

Deloris “Dee” Sims
Deloris “Dee” Sims

Deloris “Dee” Sims, one of three co-founders of Legacy Bank in Milwaukee, the first African American, women-owned charted bank in Wisconsin, passed away recently at the age of 81.

Sims was born in 1943 in Pine Bluff, Arkansas.

She started her banking career as a part-time teller at a Firstar Bank branch in Milwaukee. Over 28 years she rose up the ranks at Firstar to become a vice president and business banker. She developed five Firstar bank branches in the city.

In 1999, Sims, along with co-founders Margaret Henningsen and Shirley Lanier, launched Legacy Bank in Milwaukee. Sims was chief executive officer of Legacy Bank, which focused on lending to customers in low- to moderate-income neighborhoods within the city of Milwaukee. Its growth strategy included providing loans to revitalize residential housing and commercial properties in distressed neighborhoods in Milwaukee.

Legacy Bank had a significant concentration in commercial real estate loans and in 2011, in the wake of the Great Recession, the bank went out of business. Chicago-based Seaway Bank and Trust Company acquired all of its deposit accounts.

A memorial service to celebrate Sims’ life will be held on Friday, Aug. 16, at Mason Temple Church Of God In Christ, located at 6098 N. 35th St. in Milwaukee. A viewing will be held from 9 a.m. – 11 a.m. with the service immediately following. Northwest Funeral Chapel is handling the arrangements. In lieu of flowers, donations are requested to the Legacy Foundation at the Greater Milwaukee Foundation.

Andrew is the editor of BizTimes Milwaukee. He joined BizTimes in 2003, serving as managing editor and real estate reporter for 11 years. A University of Wisconsin-Madison graduate, he is a lifelong resident of the state. He lives in Muskego with his wife, Seng, their son, Zach, and their dog, Hokey. He is an avid sports fan, a member of the Muskego Athletic Association board of directors and commissioner of the MAA's high school rec baseball league.
[caption id="attachment_595199" align="alignleft" width="300"] Deloris “Dee” Sims[/caption] Deloris “Dee” Sims, one of three co-founders of Legacy Bank in Milwaukee, the first African American, women-owned charted bank in Wisconsin, passed away recently at the age of 81. Sims was born in 1943 in Pine Bluff, Arkansas. She started her banking career as a part-time teller at a Firstar Bank branch in Milwaukee. Over 28 years she rose up the ranks at Firstar to become a vice president and business banker. She developed five Firstar bank branches in the city. In 1999, Sims, along with co-founders Margaret Henningsen and Shirley Lanier, launched Legacy Bank in Milwaukee. Sims was chief executive officer of Legacy Bank, which focused on lending to customers in low- to moderate-income neighborhoods within the city of Milwaukee. Its growth strategy included providing loans to revitalize residential housing and commercial properties in distressed neighborhoods in Milwaukee. Legacy Bank had a significant concentration in commercial real estate loans and in 2011, in the wake of the Great Recession, the bank went out of business. Chicago-based Seaway Bank and Trust Company acquired all of its deposit accounts. A memorial service to celebrate Sims’ life will be held on Friday, Aug. 16, at Mason Temple Church Of God In Christ, located at 6098 N. 35th St. in Milwaukee. A viewing will be held from 9 a.m. – 11 a.m. with the service immediately following. Northwest Funeral Chapel is handling the arrangements. In lieu of flowers, donations are requested to the Legacy Foundation at the Greater Milwaukee Foundation.

Stay up-to-date with our free email newsletter

Keep up with the issues, companies and people that matter most to business in the Milwaukee metro area.

By subscribing you agree to our privacy policy.

No, thank you.
Exit mobile version