IBW Financial Corporation · Washington, DC United States ·(Pink Sheets: IBWC)
Company Description
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This link will open in a new window IBW Financial is the holding company for Industrial Bank, which caters to the African-American community in Washington, DC. Personal and commercial banking services include checking and savings accounts, debit cards, and cash management services. The bank primarily writes real estate loans, with residential mortgages accounting for some 40% of all loans and commercial mortgages making up about one-third. Industrial Bank has six offices in Washington, DC, and two loan production offices in Maryland's Prince George County. The Mitchell family (including CEO B. Doyle Mitchell Jr., whose grandfather founded the bank in 1934) holds a controlling stake in IBW Financial. To read the full description, subscribe now.
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Key IBW Financial Corporation Financials
| Company Type | Public - Pink Sheets: IBWC Headquarters |
| Fiscal Year-End | December |
| Annual Sales (mil.) | $19.4 |
| Employees | 126 |
IBW Financial Corporation Executives
11 executives listed for IBW Financial Corporation's Washington, DC location.
| Title | Name & Bio | Contact |
| Chairman | Clinton Chapman | Network |
| President, CEO, and Director; President and CEO, Industrial Bank | B. Doyle Mitchell | Network |
| SVP and COO, Industrial Bank | Rodney Epps | Network |
Competition
Competitive Landscape for IBW Financial Corporation
Demand for banking services is closely tied to economic activity and the level of interest rates. The profitability of individual banks depends on marketing skills, efficient operations, and good risk management. Large economies of scale exist in some segments of the industry, which has encouraged industry consolidation. Smaller banks can compete successfully in segments where customer service or knowledge of the local market is more important. The industry is capital-intensive and highly automated: annual revenue per employee is close to $300,000. Many banks and thrifts aggressively offered adjustable rate and subprime mortgages during the housing boom of the early 2000s only to find themselves saddled with loan defaults and extensive losses when the housing bubble burst. Deep exposure to subprime mortgages and mortgage-backed securities caused bank failures, government takeovers, and involuntary mergers. To read the full description, subscribe now.Top IBW Financial Corporation Competitors
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