Robert L. Johnson, founder of the Black Entertainment Television and now controlling shareholder of RLJ Cos., has gotten approval to acquire Metro Bank of Orlando, Fla., as the first step to developing a minority-owned financial services institution that will cater to African-Americans. Johnson will rename Metro Bank Urban Trust and open a branch in downtown Washington, D.C. The new entity, Johnson told the Washington Post, will "bring more access to capital to individual and families who need it, especially those that need help managing their assets and their wealth in a better way."

The purchase of Metro is to return to minorities ownership of the single-branch bank with under $10 million in assets. Founded in 1963, it was sold to entrepreneur Frank Hanna Jr. three years ago after experiencing financial and ownership problems.