Green’s Dictionary of Slang

1. (US black) a derog. term for a black person with a light complexion.

1980

E. Folb Runnin’ Down Some Lines 33: Looky dere! Some whole white bread in d’ flesh!

2. a pasty, unhealthy complexion.

1999

Guardian Rev. 12 Nov. 2: An uncertain complexion known as ‘white-bread’, after the cheap diet which causes it.

3. (US/Mex.) a white person.

1994		D. Lehane A Drink Before the War 21: ‘Hey, I live in this neighborhood, white bread. Seems to me, you the one that needs the excuse’.
2005		J.E. Lawson Last Burn in Hell 20: Down here in the South it isn’t shirts, it’s white bread, aka bolillos. The Hispanic chicks [...] call me and the other white officers bolillos.
2010		L. Berney Gutshot Straight [ebook] Small-change white bread stalls for time.
2012		M. Wilkerson ‘A Clean White Sun’ in ThugLit Sept./Oct. [ebook] ‘Two Bloods and a skinny-ass whitebread’.