According to an article published by Chicago Business, Providence Bank & Trust, U.S. Bank and First Midwest contributed $1 million each to JPMorgan Chase’s Entrepreneurs of Color fund.

Chicago Business reported the fund is used to distribute money to different non-profits, who then use the financing to support local, minority-owned small businesses in Chicago’s West and South sides.

Chicago Business added that Providence, though distributing the same amount as the other banks, contributed a greater proportion of its net income as part of its stated goal to give away 10 % of its profits every year.