A drill bit includes a shank, a transition portion, and a body portion defining a plurality of axially stacked, progressively sized steps. The steps include a first step and a terminal step coupled to the transition portion. The first step defines two tip flutes each disposed at a tip flute angle. The body portion defines a body flute extending from the first step to the transition portion. The drill bit also includes an indicator band formed on a portion of the body flute and a portion of an outer surface of one of the plurality of steps.