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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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SCHEDULE 13G
Information Statement Pursuant to Rules 13d-1 and 13d-2
Under the Securities Exchange Act of 1934
(Amendment No. ____)
IBW Financial Corporation
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(Name of Issuer)
Common Stock, $1.00 par value
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(Title of Class of Securities)
448939108
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(CUSIP Number)
Page 1 of 5 Pages
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CUSIP No. 448939108 Page 2 of 5 Pages
1. NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Cynthia T. Mitchell, S.S. No. ###-##-####
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [_]
Not applicable.
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
NUMBER OF 5. SOLE VOTING POWER 100,763 (includes 67,193 shares owned by
self-settled revocable trust, as to which reporting person
acts as sole trustee, 30,625 shares owned by deceased
SHARES husband's trust as to which she is trustee and beneficiary,
and 1,750 shares held by deceased husband's trust for
benefit of a third party, as to which she is trustee)
BENEFICIALLY
6. SHARED VOTING POWER 0
OWNED BY 7. SOLE DISPOSITIVE POWER 100,763 (includes 67,193 shares
owned by self-settled revocable trust, as to which
reporting person acts as sole trustee, 30,625 shares owned
EACH by deceased husband's trust as to which she is trustee and
beneficiary, and 1,750 shares held by deceased husband's
trust for benefit of a third party, as to which she is
REPORTING trustee)
PERSON WITH 8. SHARED DISPOSITIVE POWER 0
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 100,763
(includes 67,193 shares owned by self-settled revocable trust, as to which
reporting person acts as sole trustee, 30,625 shares owned by deceased
husband's trust as to which she is trustee and beneficiary, and 1,750
shares held by deceased husband's trust for benefit of a third party, as to
which she is trustee)
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [X]
Does not include an aggregate of 77,407 shares (12.15%) of Common Stock
beneficially owned by Patricia A. Mitchell, reporting person's adult
daughter, as trustee of self-settled revocable trust. Does not include
75,813 shares (11.90%) of Common Stock beneficially owned by B. Doyle
Mitchell, Jr., reporting person's adult son, directly and as trustee of
self-settled revocable trust, 500 shares owned by his wife and 54,720
(8.59%) shares as to which he shares voting and dispositive power as co-
trustee of the Employee Stock Ownership Plan of Issuer's subsidiary (the
"ESOP"). The reporting person is a beneficiary or successor beneficiary
under the testamentary provisions each of such revocable trusts. The
reporting person disclaims beneficial ownership of all of such shares.
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 15.81%
12. TYPE OF REPORTING PERSON* IN
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CUSIP No. 448939108 Page 3 of 5 Pages
Item 1(a). Name of Issuer:
The name of the Issuer is IBW Financial Corporation, a District of Columbia
corporation.
Item 1(b). Address of Issuer's Principal Executive Offices:
The principal executive offices of the Issuer are located at 4812 Georgia
Avenue, Washington, DC 20011.
Item 2(a). Name of Person Filing:
Cynthia T. Mitchell
Item 2(b). Address of Principal Business Office, or if None, Residence:
The reporting person's residence address is: 2029 Trumbull Terrace, N.W.,
Washington, DC 20011
Item 2(c). Citizenship:
The reporting person is a citizen of the United States.
Item 2(d). Title of Class of Securities.
The class of securities to which this statement relates is the Common
Stock, par value $1.00 per share, of IBW Financial Corporation.
Item 2(e). CUSIP Number.
448939108
Item 3. If this statement is filed pursuant to Rules 13d-1(b) or 13d-2(b),
check whether the filing person is a:
(a) [_] Broker or dealer registered under Section 15 of the Act,
(b) [_] Bank as defined in Section 3(a)(60) of the Act,
(c) [_] Insurance Company as defined in Section 3(a)(19) of the Act,
(d) [_] Investment Company registered under Section 8 of the Investment
Company Act,
(e) [_] Investment Adviser registered under Section 203 of the Investment
Advisers Act of 1940,
(f) [_] Employee Benefit Plan, Pension Fund which is subject to the
provisions of the Employee Retirement Income Security Act of 1974 or
Endowment Fund; see 13d-1(b)(1)(ii)(F),
(g) [_] Parent Holding Company, in accordance with Rule 13d-1(b)(ii)(G); see
Item 7,
(h) [_] Group, in accordance with Rule 13d-1(b)(1)(ii)(H).
Not applicable.
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CUSIP No. 448939108 Page 4 of 5 Pages
Item 4. Ownership
As of December 31, 1996, the reporting person owned shares of the Common
Stock as set forth below. The reporting person did not own any options,
warrants, or other rights to purchase or acquire any additional shares of Common
Stock, or any securities exchangeable for or convertible into shares of Common
Stock. The reporting person is a beneficiary or successor beneficiary under the
testamentary provisions of certain revocable trusts holding shares of Common
Stock established by members of her family.
(a) Amount beneficially owned: 100,763 (includes 67,193 shares owned by
self-settled revocable trust, as to which reporting person acts as sole trustee,
30,625 shares owned by deceased husband's trust as to which she is trustee and
beneficiary, and 1,750 shares held by deceased husband's trust for benefit of a
third party, as to which she is trustee) Does not include 77,407 shares (12.15%)
of Common Stock beneficially owned by Patricia T. Mitchell, reporting person's
adult daughter, as trustee of self-settled trust. Does not include 75,813
shares (11.90%) of Common Stock beneficially owned by B. Doyle Mitchell, Jr.,
reporting person's adult son, directly and as trustee of self-settled trust, 500
shares owned by his wife and 54,720 shares (8.59%) as to which he shares voting
and dispositive power as co-trustee of the ESOP. The reporting person disclaims
beneficial ownership of all of such shares.
(b) Percent of Class: 15.81%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote: 100,763 (includes 67,193
shares owned by self-settled revocable trust, as to which reporting
person acts as sole trustee, 30,625 shares owned by deceased
husband's trust as to which she is trustee and beneficiary, and
1,750 shares held by deceased husband's trust for benefit of a third
party, as to which she is trustee)
(ii) Shared power to vote or direct the vote: 0
(iii) Sole power to dispose or direct the disposition of: 100,763
(includes 67,193 shares owned by self-settled revocable trust, as to
which reporting person acts as sole trustee, 30,625 shares owned by
deceased husband's trust as to which she is trustee and beneficiary,
and 1,750 shares held by deceased husband's trust for benefit of a
third party, as to which she is trustee)
(iv) Shares power to dispose or direct the disposition of: 0
Item 5. Ownership of Five Percent or Less of a Class.
Not applicable.
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
Not applicable.
Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on by the Parent Holding Company.
Not applicable.
Item 8. Identification and Classification of Members of the Group.
Not applicable.
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CUSIP No. 448939108 Page 5 of 5 Pages
Item 9. Notice of Dissolution of Group.
Not applicable.
Item 10. Certification.
Not applicable.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
February 12, 1997 /s/ Cynthia T. Mitchell
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Cynthia T. Mitchell
