Daily News: November 8, 2019

Industrial Bank Acquires City National Bank of New Jersey


Industrial Bank has acquired Newark-based City National Bank of New Jersey.

“We’re excited about welcoming City National Bank’s customers and teammates to the Industrial Bank family,” said 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 an economic void within the African American community, whose access to credit and banking services was historically limited.

On August 20th, Industrial Bank celebrated its 85th anniversary and remains committed to giving back to any community that it calls home.

WAshington, DC-based Industrial Bank is one of the largest African American owned banks in the U.S.