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Industrial Bank celebrates its 85th anniversary

Industrial Bank celebrates its 85th anniversary

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industrial-bank-logo-350Industrial Bank, the only African-American family-owned bank in the Washington area, celebrated its 85th anniversary Tuesday after opening for business Aug. 20, 1934 by Jesse H. Mitchell with the help of nine initial investors.

Historically, Industrial Bank has made loans and opened accounts for individuals, aspiring entrepreneurs and major businesses and corporations and is currently among the top five largest black-owned banks in the United States. Today, the bank operates seven branches and will soon open a new branch in Largo, its third in Maryland. It also operates branches in Oxon Hill and Forestville.