IBW Financial Corporation operates as the bank holding company for Industrial Bank of Washington. The principal business of the company is to make loans and other investments and to accept time and demand deposits. The company's primary market areas are in the District of Columbia and surrounding areas. The company offers a range of banking products, including a full line of business and personal savings and checking accounts, money market demand accounts, certificates of deposit, and other banking services. The company funds a variety of loan types including commercial and residential real estate loans, commercial term loans and lines of credit, consumer loans, and letters of credit. The company's customers are primarily individuals and small businesses. Lending Services The company provides a range of commercial and consumer lending services, including auto loans, home equity loans, home improvement loans, credit cards and personal loans. Over two-thirds of its loan portfolio is real estate mortgage related, including residential, commercial and investment properties. Additionally, the company offers a variety of loans geared to meet the needs of small businesses in the bank's market area, including accounts receivable lines of credit, small business administration loans and equipment loans. The company also provides a range of deposit services to its customers, including personal checking, low activity student checking, interest bearing NOW accounts, golden age checking accounts for seniors, statement savings accounts, money market accounts, student accounts, investment certificates, IRA's and Christmas club accounts. Other deposit services include 24 hour banking through use of automated teller machines at ten convenient locations. As a part of the Star, Plus/Visa networks, accountholders can access ATM's across the United States at any time. Also the company provides a convenient bank by mail service, direct deposit/electronic fund transfers, cash management services, safe deposit boxes, night depository, tax deposits, wire transfers and telebanc systems. Lending Activities The company offers an array of lending services to its customers, including commercial loans, commercial real estate loans, lines of credit, equipment financing, construction loans, letters of credit, residential mortgages, personal loans, auto loans and home equity loans and lines of credit. Loan terms, including interest rates, loan-to-value ratios, and maturities, are tailored as much as possible to meet the needs of the borrower within prudent lending guidelines in terms of interest rate risk and credit risk. Commercial Loans Commercial loans are written for any legitimate business purpose, including the financing of plant and equipment, interim working capital pending collection of accounts receivable, permanent working capital for growth and the acquisition and construction of real estate projects. Its commercial loan portfolio reflects a group of borrowers with no significant concentration in any borrower, or group of borrowers. Consumer Loans Consumer credit facilities are underwritten to focus on the borrower's credit record, length and stability of employment, income to service debt and quality of collateral. Home equity loans amortize over 5-15 years and are fixed rate while home equity lines are revolving with 10-year maturities and have floating rates tied to the prime rate. History IBW Financial Corporation, a District of Columbia corporation (the Company), was founded in 1994.
ibw financial corporation (IBWC:OTC US)
4812 Georgia Avenue
Washington, DC 20011
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