Welcome to Industrial Bank
Since 1934, Industrial Bank has played a pivotal role in the growth and economic development of the Washington, DC metropolitan area through its essential products and services, customer care and community service. On Friday, November 1, 2019, the Bank announced it has acquired City National Bank of New Jersey, with two branches in New Jersey and one branch in Harlem, New York.
“We’re excited about welcoming City National Bank’s customers and teammates to the Industrial Bank family.” stated Industrial Bank President and CEO B. Doyle Mitchell, Jr.. “This acquisition will allow us to expand our footprint into the northeast region and deepen our commitment to impacting economic development in various communities”.
Much like Industrial Bank, City National Bank was started to fill a great economic void within the African American community whose access to credit and banking services was historically limited. We consider this more of a partnership than an acquisition as we have enjoyed a long-standing relationship with City National Bank and its great team of bankers who share our common values and commitment to community service.
On top of loan awards and financial services, as a Community Development Financial Institution (CDFI), Industrial Bank reinvests over 60% of its assets back into the community every year and continues to activate and support community programs. Bank President B. Doyle Mitchell, Jr., as did his father and grandfather before him, still believes in the importance and power of financial education, entrepreneurship and home ownership.
Please be advised you will not receive any email notification to claim, unlock or suspend your account or to provide any private information from City National Bank or Industrial Bank. Please be aware of any phishing scams to obtain information from you.
Frequently Asked Questions
Who is Industrial Bank?
We are the only African American family owned community bank in the Washington D.C. Area founded by Jesse H. Mitchell on August 20, 1934. Since its inception, our vision remains the same, to provide relevant products and services with incomparable customer care and provide financial education that enhances the quality of life for all. We are champions in supporting our communities through partnerships and volunteerism. For 85 years, Industrial Bank has remained a vital economic force and an inspiration to the communities we serve.
Will City National Bank of New Jersey’s name change?
Yes, City National Bank of NJ will become Industrial Bank
Will all the current City National Bank of NJ branch staff remain in the branches?
Yes, we are committed to ensuring our customers receive continuous quality care.
Will any branches close?
No, all City National Bank of NJ branches will remain open and will be renamed Industrial Bank.
Will any of the branch hours change?
No, each branch will maintain their current hours.
Will I have a new account number?
No, your account number will remain the same.
Will my accounts still be FDIC insured?
Yes, your accounts are still insured by the FDIC up to $250,000, the maximum allowed by law. If you currently have deposits at both City National and Industrial Bank, those accounts will remain separately insured for up to six (6) months to allow for restructuring. To learn more about deposit insurance and the options for FDIC coverage, please visit www.fdic.gov.
Will I receive a new debit card?
Yes, you will receive a new Industrial Bank branded debit card. However, your current City National Bank of NJ debit card will still work until you receive and activate your new Industrial Bank debit card.
Will I be able to use the checks I have on-hand that have City National Bank of NJ printed on them?
Yes, you can use these checks until further notice. We will provide sufficient notice to current City National Bank of NJ customers of when Industrial Bank branded checks will need to be ordered.
Will the City National Bank of NJ routing number change?
The routing number will change in a few months, however you will receive adequate advance notice before it changes.
Do I continue to make my City National Bank loan payments?
Yes, you will continue to make your loan payments in accordance to your loan agreement.
Will the City National Bank of NJ website change?
Yes, you will be directed to the Industrial Bank website where you will be able to access your accounts online and utilize other online banking services.
What number do I call for account related questions?
We have a qualified customer client service center with staff available to answer all of your account related questions. You may call 1-800-966-8262. For online banking questions, please call 855-816-2627.