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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
Patricia A. 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 77,407 (represents shares owned by
self-settled revocable trust, as to which reporting person
SHARES acts as sole trustee)
BENEFICIALLY 6. SHARED VOTING POWER 0
OWNED BY
EACH 7. SOLE DISPOSITIVE POWER 77,407 (represents shares owned by
self-settled revocable trust, as to which reporting person
REPORTING acts as sole trustee)
PERSON WITH 8. SHARED DISPOSITIVE POWER 0
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 77,407
(represents shares owned by self-settled revocable trust, as to which
reporting person acts as sole trustee)
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [X]
Does not include an aggregate of 100,763 shares (15.81%) of Common Stock
beneficially owned by Cynthia T. Mitchell, reporting person's mother,
directly and as trustee under various trusts. Does not include 75,813
shares (11.90%) of Common Stock beneficially owned by B. Doyle Mitchell,
Jr., reporting person's adult brother, 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 trustee of the Employee
Stock Ownership Plan of Issuer's subsidiary (the "ESOP"). The reporting
person disclaims beneficial ownership of all of such shares. Does not
include reporting person's interest in shares of Common Stock held in ESOP
by virtue of her status as an employee of issuer.
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 12.15%
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 IBW are located at 4812 Georgia Avenue,
Washington, DC 20011.
Item 2(a). Name of Person Filing:
Patricia A. Mitchell
Item 2(b). Address of Principal Business Office, or if None, Residence:
The reporting person's business address is : 4812 Georgia Avenue,
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 report 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: 77,407 (represents shares owned by self-
settled revocable trust, as to which reporting person acts as sole trustee)
Does not include an aggregate of 100,763 shares (15.81%) of Common Stock
beneficially owned by Cynthia T. Mitchell, reporting person's mother, directly
and as trustee under various trusts. Does not include 75,813 shares (11.90%) of
Common Stock beneficially owned by B. Doyle Mitchell, Jr., reporting person's
adult brother, 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 trustee of the ESOP. The reporting person disclaims
beneficial ownership of all of such shares. Does not include reporting
person's interest in shares of Common Stock held in ESOP by virtue of her status
as an employee of Issuer.
(b) Percent of Class: 12.15%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote: 77,407 (represents shares
owned by self-settled revocable trust, as to which reporting person
acts as sole trustee)
(ii) Shared power to vote or direct the vote: 0
(iii) Sole power to dispose or direct the disposition of: 77,407
(represents shares owned by self-settled revocable trust, as to
which reporting person acts as sole 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.
Item 9. Notice of Dissolution of Group.
Not applicable.
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CUSIP No. 448939108 Page 5 of 5 Pages
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/ Patricia A. Mitchell
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Patricia A. Mitchell
