Jacoby Dickens (Finding Aid)

Jacoby Dickens

1931 -

Favorite Color: Dark Blue

Favorite Food: Fish and Sweet Potatoes

Favorite Time of Year: January and February (In Florida)

Favorite Vacation Spot: Fisher Island, Florida

Interview Length: 155 minutes

Interview Date(s): December 15, 1999

Interview Location(s): Seaway National Bank, 645 E. 87th St., Chicago, Ill., Seaway National Bank, 645 E. 87th Street, Chicago, Ill.

Abstract

Jacoby Dickens, Jr. discusses growing up in a segregated area in Panama City, Fla., one of six siblings in a poor, but tight-knit and supportive family. His parents' divorce at an early age left Dickens's father, Jacoby Dickens, Sr., as a single parent. Dickens Sr. and Jr. shared not only a strong father-son bond, but a deep friendship. His paternal grandmother also played a crucial role in his early developmental years. Dickens emphasizes the role of the church and black businesses in the self-sufficient black Dickens recalls his grandmother's stories of the rural lives the family had led as sharecroppers for a wealthy white man, for whom Dickens, Sr. was named. Dickens relates his family's move to Chicago in 1946; the big city was at first strange and uncongenial to him, but he soon learned to love the excitement of black theaters and stores on the South Side and the large high school he attended. Dickens encountered two particularly supportive school teachers who encouraged and inspired him. Dickens manag Jacoby Dickens, Jr. recalls his adolescence attending Wendell Phillips High School, an exclusively black school on Chicago's South Side, and enjoying the great variety of entertainment available at venues like the Savoy Ballroom and the Regal Theater, institutions at the center of black social life in Chicago in the segregated 1940s. Following high school, Dickens both worked and attended college. He describes how, after repeatedly being broke before payday and borrowing from his father, Dickens, Sr. refused to lend more and gave him a lecture on his financial habits that turned him into a saver. Working two jobs, he began to save conscientously and was eventually able to invest in real estate, his entry into the business world. He used expertise he had acquired as a building engineer to refurbish apartment buildings and lease them to residents. Dickens talks about his entrepreneurial spirit, his inspiration by the success stories of black millionaires and he describes Chicago as a city that presented limit Jacoby Dickens, Jr. describes the early sacrifices and hard work he put into becoming a millionaire businessman. His first major investments were in real estate; he then became involved in a bowling venture initiated by Daddy-O Daylie, a Chicago disc jockey and fellow entrepreneur. He received several bank rejections, but ultimately received a loan from a large downtown bank. In pursuit of a loan in order to purchase his second bowling alley, Dickens began to build a relationship with Seaway National Bank [Chicago, Ill.]. He later joined Seaway himself, investing in the bank and joining the board, becoming first vice chairman and then chairman. Though he had no previous banking experience, Dickens was successful in the industry. In his tenure, Seaway has experienced significant growth. He discusses the strong partnership that Seaway National Bank has had with the local community from the beginning of his involvement. He expects growth in the future--both financially and in terms of the bank's contributions t Jacoby Dickens, a Chicago-based businessman, discusses the banking issues he has witnessed in his career. He describes his strong belief about starting businesses in one's own community. He goes on to discuss the Community Reinvestment Act (1979) that required large banks to build branches in areas that would otherwise be ignored, in this particular instance, the mostly black South Side of Chicago. Dickens also discusses his investment in television and his pursuit of a riverboat casino license. He talks about his involvement on the board of Chicago State University and shares his support for affirmative action and the need for more government support for higher education. Entrepreneur Jacoby Dickens talks about the advantages of entrepreneurship for young African Americans. He stresses the benefits of mentorship, giving examples of his work with Chicago State University and sharing anecdotes about black teens he is sponsoring through private high schools. He touches on his bank's connections with black churches. Dickens urges the importance of black political participation, advocates term limits, remembers former Chicago mayor Harold Washington and contrasts Washington's integrity with a bribery scandal in the Chicago City Council. Finally, Dickens talks about his legacy and explains his plans to leave assets to his foundation and other organizations to help black youth. Entrepreneur Jacoby Dickens describes a series of photos depicting his life, family, and career.

78 Stories (See Ordered Story Set)