Page 1 of 3
Regular Session, 2010 ENROLLED
SENATE RESOLUTION NO. 110
BY SENATOR DUPLESSIS
A RESOLUTION
To commend and honor Alden J. McDonald, Jr., as a "Beat the Odds Champion" in New
Orleans, and for being a trail blazer in the business and financial arena for many
Louisiana citizens and providing opportunities to the underserved.
WHEREAS, it is with great pride that the Senate of the Legislature of Louisiana
recognizes Alden J. McDonald, Jr., as President and CEO of Liberty Bank and Trust
Company, one of the largest African-American owned financial institutions in the United
States; and
WHEREAS, he is a graduate of the Louisiana State University School of Banking
and of Columbia University's Commercial Banking Management Program; and
WHEREAS, Alden J. McDonald, Jr., began his rise to the top in 1966 at a local
commercial bank and in 1972, at age twenty-nine, he took the reins of the newly formed
Liberty Bank and Trust Company, as President and CEO since its inception, and he is the
longest-tenured African-American financial executive in the country; and
WHEREAS, under Alden J. McDonald, Jr.'s stewardship, Liberty has grown to more
than four hundred and twenty million in assets, realized consistent profitability, and enjoyed
national recognition for its leadership from its start in a trailer in a vacant lot, to now being
branched to do business in six states; and
WHEREAS, upon the aftermath of Hurricane Katrina, whose devastation was most
felt by the communities served by Liberty Bank, Alden J. McDonald, Jr., moved swiftly and
aggressively to lead the rebuilding efforts, and has not only been a leader in the New Orleans
area recovery, but his guidance helped Liberty enjoy two of its best years after the storm;
and
WHEREAS, he has served on numerous local, regional, and national boards,
including Fannie Mae, FDIC Advisory Committee on Economic Inclusion, the American
Bankers Association, the National Bankers Association, and the Louisiana Bankers SR NO. 110 ENROLLED
Page 2 of 3
Association; and
WHEREAS, Alden J. McDonald, Jr., has provided his business expertise to other
industries, including serving on the Stewart Enterprises, Inc. (STEI), Entergy New Orleans
Advisory Board, as former chairman of the New Orleans Chamber of Commerce; the New
Orleans Business Council, former chairman of the Lindy Boggs Medical Center, the BP
America External Advisory Council, as Grants Advisor on the Baptist Community Ministries
Grants Committee, the Ochsner Baptist Medical Center, and the Port Authority of New
Orleans; and
WHEREAS, Alden J. McDonald, Jr., is widely recognized both locally and
nationally for his many endeavors, was one of Fortune magazine's 2006 Portraits of Power,
and that same year, was the subject of a feature profile article in The New York Times, also
receiving the A.G. Gaston Lifetime Achievement Award from Black Enterprise, and the
Loving Cup from the New Orleans Times Picayune, awarded annually for over one hundred
years and considered the highest honor in the New Orleans metropolitan area; and
WHEREAS, he was the recipient of the R.R. Wright Presidential Award from the
National Banker's Association, the Whitney Young Award from the Urban League of
Greater New Orleans, the Civil Rights Award from the National Dental Association, and the
Minority Suppliers Award from J. C. Penney, and Junior Achievement inducted him into the
Business Hall of Fame; and
WHEREAS, in his community, Alden J. McDonald, Jr., has been a major advocate
for affordable housing and neighborhood revitalization, bringing leaders of many New
Orleans' financial institutions together to create lending pools for first-time home buyers,
serving as chairman of the New Orleans Neighborhood Development Foundation, and
working with elected officials at the city and state levels to pass legislation to promote
revitalization of housing stock and home ownership training for low to moderate-income
individuals; and
WHEREAS, his commitment to community service is further typified by his service
on the Archdiocese of New Orleans Finance Council, the Southern University at New
Orleans Advisory Council, the Board of Tulane University School of Medicine, the Loyola
University Board of Trustees, the United Negro College Fund, the 100 Black Men of Metro SR NO. 110 ENROLLED
Page 3 of 3
New Orleans, and the Committee for a Better New Orleans/Metropolitan Area Committee,
along with numerous other civic organizations; in fact it would be fair to say that he has
served on every major business and civic board in the city of New Orleans; and
WHEREAS, he is married to the former Rhesa Ortique, and is the father of three
children, Heidi, Alden III, and Todd McDonald; and
WHEREAS, Alden J. McDonald, Jr., is nationally known as a dynamic catalyst in
the movement of minority businesses into the mainstream economy, serving as both a
business leader and a community leader, having devoted his life to community development
through promoting entrepreneurship, supporting civic organizations, and empowering
businesses and individuals; and
WHEREAS, the success of our state, the strength of our communities, and the overall
vitality of American society depend, in great measure, upon people like Alden J. McDonald,
Jr., who dedicate themselves to making our world a better place for future generations.
THEREFORE, BE IT RESOLVED that the Senate of the Legislature of Louisiana
does hereby commend and honor Alden J. McDonald, Jr., as a "Beat the Odds Champion"
in New Orleans, and recognizes him for his many accomplishments, achievements and
contributions to his community and to the state of Louisiana.
BE IT FURTHER RESOLVED that a copy of this Resolution be transmitted to
Alden J. McDonald, Jr.
PRESIDENT OF THE SENATE