Corn Exchange Bank
Encyclopedia
The Corn Exchange Bank was founded in 1853 in New York
, but had branches in other states, including Pennsylvania
, Wisconsin
, and Nebraska
. It was a retail bank
that acquired many community banks. In 1929 it was renamed the Corn Exchange Bank and Trust Company. In 1954 it merged with Chemical Bank and the combined entity took the name Chemical Corn Exchange Bank. After Chemical Corn merged with New York Trust, the "Corn" was dropped.
In 1855, the bank moved into an existing building at the northwest corner of William
and Beaver Streets. In 1894, the bank completed a new headquarters, an 11-story building designed by Robert Henderson Robertson
, at 11-15 William Street
.
Between 1923 and 1925 it held a small stake in the Connecticut
-chartered Bank of Central and South America
, together with a number of other New York banks.
was famously robbed by Willie Sutton
in February 1933.
New York
New York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...
, but had branches in other states, including Pennsylvania
Pennsylvania
The Commonwealth of Pennsylvania is a U.S. state that is located in the Northeastern and Mid-Atlantic regions of the United States. The state borders Delaware and Maryland to the south, West Virginia to the southwest, Ohio to the west, New York and Ontario, Canada, to the north, and New Jersey to...
, Wisconsin
Wisconsin
Wisconsin is a U.S. state located in the north-central United States and is part of the Midwest. It is bordered by Minnesota to the west, Iowa to the southwest, Illinois to the south, Lake Michigan to the east, Michigan to the northeast, and Lake Superior to the north. Wisconsin's capital is...
, and Nebraska
Nebraska
Nebraska is a state on the Great Plains of the Midwestern United States. The state's capital is Lincoln and its largest city is Omaha, on the Missouri River....
. It was a retail bank
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
that acquired many community banks. In 1929 it was renamed the Corn Exchange Bank and Trust Company. In 1954 it merged with Chemical Bank and the combined entity took the name Chemical Corn Exchange Bank. After Chemical Corn merged with New York Trust, the "Corn" was dropped.
In 1855, the bank moved into an existing building at the northwest corner of William
William Street (Manhattan)
William Street is a city street in the Financial District of lower Manhattan in New York City in the United States of America. It runs generally southwest to northeast, crossing Wall Street and terminating at Broad Street and Spruce Street, respectively. Between Beaver Street and Broad Street,...
and Beaver Streets. In 1894, the bank completed a new headquarters, an 11-story building designed by Robert Henderson Robertson
Robert Henderson Robertson
Robert Henderson Robertson was an American architect who designed numerous houses, institutional buildings and churches.-Life and career:...
, at 11-15 William Street
William Street (Manhattan)
William Street is a city street in the Financial District of lower Manhattan in New York City in the United States of America. It runs generally southwest to northeast, crossing Wall Street and terminating at Broad Street and Spruce Street, respectively. Between Beaver Street and Broad Street,...
.
Between 1923 and 1925 it held a small stake in the Connecticut
Connecticut
Connecticut is a state in the New England region of the northeastern United States. It is bordered by Rhode Island to the east, Massachusetts to the north, and the state of New York to the west and the south .Connecticut is named for the Connecticut River, the major U.S. river that approximately...
-chartered Bank of Central and South America
Bank of Central and South America
The Bank of Central and South America was established in Connecticut in 1922. The next year it acquired some of the assets of the Mercantile Bank of the Americas The Bank of Central and South America was established in Connecticut in 1922. The next year it acquired some of the assets of the...
, together with a number of other New York banks.
Acquisition history
- 1899 Astor Place Bank (founded 1891), Hudson River Bank of the City of New York (founded 1888) and Queens County Bank (founded 1873 as Flushing and Queens County Bank). In 1896 the Astor Place Bank had acquired the Empire State Bank (1888-12/1896).
- 1900 Home Bank (founded 1883).
- 1902 Mechanics & Traders' Bank of Brooklyn (founded 1867), Eleventh Ward Bank (founded 1867) and Union Square Bank of the City of New York (founded 1889). The Eleventh Ward Bank in 1867 purchased Banking New-York Dry Dock Company.
- 1905 First National Bank of Staten Island at New Brighton (founded 1886).
- 1913 Mount Morris BankMount Morris BankThe Mount Morris Bank building, known as the Corn Exchange Bank after 1913, is an historic bank building located in Harlem in New York City. It was designed by the noted architectural firm of Lamb and Rich and built in 1883 and expanded in 1897 as a mixed use residential and commercial building...
(founded 1881). - 1914 Washington Trust Company of the City of New York (founded 1889).
- 1928 Stapleton National Bank (founded in 1902).
Trivia
The Corn Exchange Bank in Philadelphia, PennsylvaniaPhiladelphia, Pennsylvania
Philadelphia is the largest city in the Commonwealth of Pennsylvania and the county seat of Philadelphia County, with which it is coterminous. The city is located in the Northeastern United States along the Delaware and Schuylkill rivers. It is the fifth-most-populous city in the United States,...
was famously robbed by Willie Sutton
Willie Sutton
William "Willie" Sutton was a prolific U.S. bank robber. During his forty-year criminal career he stole an estimated $2 million, and eventually spent more than half of his adult life in prison...
in February 1933.