Industrial Bank selling property in long-term capital raise

Washington-based Industrial Bank, fresh off its $2.2 million sale of 202 11th St. NW in late December, is mulling over which of several other District properties it owns to put on the market as part of an extended capital raise over the next two years.

Industrial President and CEO B. Doyle Mitchell Jr. told me he hopes to generate about $10 million from the sale of three or four properties the bank has owned for decades. The money can help pay for some ongoing branch renovations and potential expansion,…