Industrial Bank President and CEO B. Doyle Mitchell Jr. was a whirlwind at the National Bankers Association’s (NBA) Annual Conference titled “Emerging Trends: The Changing Face of Banking” held at the Royal Sonesta Hotel in Northwest Oct. 19-20.
From the moment it started early on Oct. 19 to the closing reception on the 20th, Mitchell visited panel discussions, and networked with fellow NBA members and guests. In addition to being a present force in sessions during the conference, Mitchell was also often seen planning and huddling with NBA President Nicole Elam or the board chairman Robert E. James II, president and CEO of the Carver Financial Corporation in Savannah, Georgia. As NBA treasurer, Mitchell was intentional about taking in the conference and ensuring it was a success for its over 150 attendees.
“This conference is fantastic,” said Mitchell, 61. “Most of the banking industry’s regulators are here. We have a lot of people attending this year. There is a lot on our agenda and things are moving quickly.”
Mitchell’s bank, started by his grandfather Jesse Mitchell in 1934, has long been a member of the NBA, which started out as the Negro Bankers Association in 1927 to further the interest of African American-owned financial institutions. The NBA presently has women and members from Asian and Latino. According to FDIC.gov, as of December 2022, there are 21 Black-owned banks in the United States, including three in the District: Industrial Bank, City First Bank, and Howard University Employees Credit Union.
2023 National Bankers Association Conference Highlights
On Oct. 19, the NBA co-sponsored the Minority Deposit Institutions Partnership Summit with the American Bankers Association. The partnership’s focus is to facilitate the growth of Minority Deposit Institutions (MDIs), many of whom are Black banks.
“This partnership with the ABA started in 2019,” said Elam. “We want both MDIs and non-MDIs to serve our communities. We are seeking to bring MDIs to the table.”
The Summit consisted of workshops on MDIs legislative and regulatory views, capital acquisition and economic opportunities.
Representatives of the federal banking regulatory agencies and the Biden administration spoke to the attendees on Oct. 20.
Robit Chopra, director of Consumer Financial Protection Bureau, said Black banks are doing well but must be careful in the changing banking environment.
“There seems to be a move toward only a few big banks in this country,” Chopra said.
Mitchell said the conference highlights the need for big banks and smaller financial institutions to work together.
“Black banks are in the best position in 30 years due to the influx of capital from larger banks and the Community Development Financial Institutions Fund,” Mitchell said.
