
02/06/2025
The Industrial Bank is the oldest black-owned bank in Washington, and when it opened in 1913, the ONLY black owned bank in Washington. At a time when white-owned banks (ie all banks) would either not approve financing to black citizens, or if they did they did so at exploitative high rates, the emergence of a black-owned financial institution became a lifeline for black entrepreneurs, aspiring home-owners, and students needing loans. Started by John Whitelaw Lewis, saved from bankruptcy during the Depression by Lightfoot Solomon Michaux, the bank was bought in 1934 by Jesse Homer Mitchell. The Mitchell family still owns the bank, and it is one of only three black-owned businesses continuously run by the same family since before 1968. It was because of this bank that U Street would rise to fame as "Black Broadway." Learn more about U Street''s history on our Harlem Renaissance in DC walking tour happening this Saturday, February 8th at 4pm. And don't forget that in honor of Black History Month we are offering a 20% discount with code BHM2025 at checkout!