Great Streets Business Highlight: Industrial Bank

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By Kevin Vaughn

Insustrial BankThis month the Great Streets Business Leadership Council is highlighting the work of Industrial Bank.

Founded on August 20, 1934, Industrial Bank is the oldest and largest African American owned commercial bank in the metropolitan Washington region. Since 1934, the bank has delivered essential banking and financial services that have contributed greatly to the growth and development of the Washington, D.C. community.

Industrial Bank offers a full range of banking services from eight banking centers, of which six are located in the District of Columbia. These services include a host of checking, savings, and investment accounts for retail and commercial customers, cash management, corporate online banking, electronic banking services, debit cards, and a variety of consumer, real estate, and commercial loans and lines of credit.

In addition to providing services, Industrial Bank works to create a vibrant local economy in other ways including public/private partnerships, banking education seminars, and sponsorships. Industrial Bank believes that an informed customer is the best customer.

Jesse H. Mitchell, in 1934 founded the Industrial Bank at 11th and U in the Shaw neighborhood in Northwest Washington. Today industrial is run by President B. Doyle Mitchell, the grandson of founder Jesse. Mitchell has watched the bank grow from assets of $130 million to over $380 million, doubled the size of the staff and also instituted an aggressive program to keep it on the cutting edge technologically. The bank now has eight branches — six in the District and two in Prince George’s County –and over 15,000 clients. He continues to develop strategies to improve his bank and increase its business.

“Our commitment has only grown stronger through the years, and we stand poised to bring our unwavering commitment of delivering convenient, personalized, high-quality products to the communities we serve.” B. Doyle Mitchell

Mitchell was recently named Chairman of The Greater Prince George’s Business Roundtable installed B. Doyle Mitchell as chairman for 2013. Mr. Mitchell also serves on the Board of Directors of the Federal City Council, Greater Prince George’s Business Roundtable, the National Coalition of Minority Businesses; current Chairman of the National Bankers Association, the Luke C. Moore Academy, Sewell Music Conservatory, and the D.C. Chamber of Commerce.

He is a former Board member of the Greater Washington Board of Trade, the Washington Performing Arts Society, Leadership Greater Washington, and the U Street Theater Foundation (Lincoln Theater). In the past he has also served on the Board of the American Institute of Banking, the MAAT Center for Human Development, the D.C. Water and Sewer Authority, the Maryland Economic Development Assistance Authority, and the Bowie State Board of Visitors.

The Great Street Business Leadership Council recognizes Industrial Bank as it continues to be a leader and staple in the community and also a pioneer in the area for minority banking.

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