Place beans in a large bowl with the water, cover, and soak overnight.
In a large skillet over medium to medium high heat, fry the bacon until crispy. Drain the bacon fat and crumble the bacon; set aside.
In a crockpot, combine the carrot, celery, onion, potato, Italian- style seasoning, ground black pepper, reserved beans and crumbled bacon. Pour the broth over all. Cover and cook on LOW for 7 1/2 to 9 hours, or until beans are crisp to tender.
Transfer 2 cups at a time to a blender or food processor and puree until smooth. Return all to crockpot, add the milk, cover and heat on HIGH for about 10 to 15 minutes, or until heated through.