Mechanics Savings Bank

Founded in 1902 by John Mitchell, Jr., Mechanics Savings Bank was a bank near the Jackson Ward neighborhood of Richmond, Virginia. Mitchell, who was an African American, also owned and edited the Richmond Planet. The bank was originally located at 511 N 3rd St., which was also the address of the Office of the Grand Lodge, Knights of Pythias of VA^[1][2] In 1905 the bank bought a three-story brick building at No. 310 East Broad Street.^[3] The bank's 3rd and last location was at the northwest corner of Third and Clay Street. The building was designed by architect Carl Ruehrmund^[4][5] and constructed in 1910.^[6] The bank was the chief depository of the Knights of Pythias. At the time of its failure in 1922, the bank had deposits totaling approximately $500,000.^[7] In 1930, the Clay Street Building was purchased by the Southern Aid and Insurance Company.^[5]