THE STORY: During the height of the Great Depression, Pres. Franklin D. Roosevelt declared a "bank holiday" on March 5, 1933, closing banks across the country until they proved financial soundness. Meanwhile in Washington, D.C, as the United States government feverishly worked to end our nation's economic turmoil, Jesse H. Mitchell, a Howard University–educated lawyer, realtor and bank executive along with a cadre of savvy black investors partnered to solicit the black U Street/Black Broadway community's financial support and sold $65,000 in stock to re-open their neighborhood bank. On August 20, 1934, Mitchell and his group of black businessmen with their unbridled optimism opened the doors of the black owned Industrial Bank with six employees at the corner of 11th and U Streets along D.C.'s "Black Broadway" business and entertainment district.
Since this time, Industrial Bank has successfully operated under the tireless leadership of three Mitchell generations. Today, Industrial is the oldest and largest black owned bank in the DC area and is one of the largest black owned/operated commercial banks in the United States. Learn more: industrial-bank.com
DISCOVER: The history, commerce and cultural legacy of D.C.'s Black Broadway on U, VISIT: blackbroadwayonu.com
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