Industrial Bank

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City National Bank was established as the only black-owned and operated commercial bank in the states of New Jersey and New York. Charles L. Whigham founded the bank in 1973. Whigham and the other founders saw a need for the community to have a financial institution that would be sensitive to the needs of blacks and other minorities who historically had limited access to credit and other banking services. During the first few years, Whigham, along with the dedicated founders, literally went door to door and met with church groups and minority community leaders in an effort to sell stock in the bank to raise capital. The bank s primary mission is to provide its immediate community with loans, mortgages and other banking services. Ranked by Black Enterprise as one of the United States 10 largest black-owned and operated financial institutions, City National Bank has branch operations serving New Jersey s Essex, Bergen and Passaic counties and New York s Nassau County, Harlem and Brooklyn communities.