Our History
Industrial Bank was founded on August 20, 1934, with just six employees and $192,000 in assets.
Eighty-six (86) years later, Industrial Bank has over 140 employees and more than $550 million in assets.
As the oldest African American owned commercial bank in the Mid-Atlantic region, we believe it is our duty to support our communities and educate our customers on how they can achieve their financial goals and create wealth.
Industrial Bank has six community banking locations within Washington D.C. and Prince Georges County, Maryland, (coming soon to Largo, MD) two in Newark, NJ and one in Harlem, NY. We offer a full range of banking services including deposit and loan products that will meet your personal or business needs and help you meet any financial goal you set.
Industrial Bank offers a full range of banking services from ten banking centers. 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, and commercial loans and lines of credit.
Our Legacy
We know that when you bank you have a choice. Over the years our customers have banked with us for many reasons. Some have chosen Industrial Bank because we have looked out for their best interest, others because we have earned and kept their trust. A host of our customers have chosen to bank with us because their parents and grandparents believed in our mission, vision, and core values. Most importantly, our customers know that we care.
Industrial Bank is working to create a vibrant economy through strategic partnerships and financial education seminars. As a Treasury certified CDFI (Community Development Financial Institution), we annually reinvest over 60% of our assets back into the communities we serve and, our team of experienced bankers provide hundreds of hours in financial education sessions. Industrial Bank believes that an informed customer is a strong customer, and together the bank and its customers provide a strong foundation for the community.
“Our commitment has only grown stronger through the years, and we stand poised to bring our unwavering commitment of delivering products and services that educate and help to build generational wealth to the communities we serve.” - B. Doyle Mitchell, Jr., President/CEO
Our Guiding Principles
Vision
Provide financial services with incomparable customer care.
Mission
To make a difference in your life and to impact economic development in your community.
Core Values
The Industrial Bank team is guided by its Core Values of:
- Leadership: We believe leaders aspire to excellence, and exert positive influence on others by holding themselves and others accountable for continuous improvement.
- Customer Service: We believe internal and external customers are our greatest assets and providing team members the necessary resources to ensure we surpass customer expectations is critical.
- Integrity: We believe in being honest, trustworthy and fulfilling our word/commitments to each other and customers.
- Community: We believe in strengthening our local community and getting involved with our partners.
- Relationships: We believe and respect in the confidentiality and the protection of the personal and business information of our fellow team members and our external customers. We value respect the input and opinions of each other.