| Company type | Privately held company |
|---|---|
| ISIN | US4650744091 |
| Industry | Banking |
| Founded | 1949 |
| Headquarters | 1114 Avenue of the Americas, , U.S. |
Area served | United States, Latin America & Israel |
Key people | Ziv Biron (President & CEO) |
| Products | Private banking Commercial banking Asset management Investment management |
| Total assets | US$12.951 billion (2021) |
| Parent | Discount Bank |
| Subsidiaries | IDB Capital |
| Rating | Standard & Poor's: BBB+ [1] Kroll Bond Rating Agency: A− [2] |
| Website | www |
IDB Bank (IDB) is an American multinational private bank, commercial bank and financial services company headquartered in New York City with locations in the United States, Latin America and Israel. It is chartered by the State of New York and a member of the Federal Deposit Insurance Corporation.
What is known today as IDB Bank first began in 1949 as a single representative office in New York City for Tel Aviv-based Discount Bank. The office had just a few employees and limited contact with the public. [3]
In 1961, New York State law changed to allow foreign banks to operate full branches. [4] IDB immediately began work on opening a full-service branch of its own. On April 4, 1962, former First Lady of the United States Eleanor Roosevelt officiated the opening of IDB's first-ever branch at 511 Fifth Avenue in Midtown, Manhattan. [5]
In 1968, IDB acquired HIAS Immigrant Bank, a New York State licensed bank located at 425 Lafayette Street in the East Village neighborhood of Manhattan. Established in 1923 as a service of the Hebrew Immigrant Aid Society, HIAS Immigrant Bank's sole purpose was to facilitate remittance or money transfers to and from immigrants’ families abroad, which was then a service not offered by most U.S. banks. [6] IDB announced it would operate the acquisition as Israel Discount Trust Company, a member of the Federal Deposit Insurance Corporation. [7]
By 1980, IDB became a wholly owned subsidiary of Discount Bank as "Israel Discount Bank of New York" [8] and later purchased the registered service mark "IDB Bank" to reflect its expansion into markets outside of New York and describe its service as a "bank".
IDB's headquarters are located in the W. R. Grace Building. [9]
Outside of New York, IDB has physical locations in New Jersey, Florida [10] and California, [11] as well as Chile, Uruguay and Israel.[ citation needed ]
IDB can mean:
The Federal Deposit Insurance Corporation (FDIC) is a United States government corporation supplying deposit insurance to depositors in American commercial banks and savings banks. The FDIC was created by the Banking Act of 1933, enacted during the Great Depression to restore trust in the American banking system. More than one-third of banks failed in the years before the FDIC's creation, and bank runs were common. The insurance limit was initially US$2,500 per ownership category, and this has been increased several times over the years. Since the enactment of the Dodd–Frank Wall Street Reform and Consumer Protection Act in 2010, the FDIC insures deposits in member banks up to $250,000 per ownership category. FDIC insurance is backed by the full faith and credit of the government of the United States, and according to the FDIC, "since its start in 1933 no depositor has ever lost a penny of FDIC-insured funds".
JPMorgan Chase Bank, N.A., doing business as Chase, is an American national bank headquartered in New York City that constitutes the consumer and commercial banking subsidiary of the U.S. multinational banking and financial services holding company, JPMorgan Chase. The bank was known as Chase Manhattan Bank until it merged with J.P. Morgan & Co. in 2000. Chase Manhattan Bank was formed by the merger of the Chase National Bank and the Manhattan Company in 1955. The bank merged with Chemical Bank New York in 1996 and later merged with Bank One Corporation in 2004 and in 2008 acquired the deposits and most assets of Washington Mutual. In May 2023, it acquired the assets of First Republic Bank.
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Truist Financial Corporation is an American bank holding company headquartered in Charlotte, North Carolina. The company was formed in December 2019 as the result of the merger of BB&T and SunTrust Banks. Its bank operates 2,781 branches in 15 states and Washington, D.C., offering consumer and commercial banking, securities brokerage, asset management, mortgage, and insurance products and services. It is on the list of largest banks in the United States by assets; as of August 2023, it is the 9th largest bank with $514 billion in assets.
Israel Discount Bank, Ltd. is an Israeli banking institution that offers a range of financial services, including retail banking, commercial banking, private banking, and financial services. The bank, headquartered in Tel Aviv, operates 112 branches throughout Israel.
The Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA), is a United States federal law enacted in the wake of the savings and loan crisis of the 1980s.
Beal Financial Corporation is a bank holding company based in Plano, Texas that operates two federally chartered banks: Beal Bank, with 6 branches, and Beal Bank USA, headquartered in Las Vegas, Nevada, with 10 branches and a direct bank. It is on the list of largest banks in the United States. It was founded by and is entirely owned by billionaire Andrew Beal and specializes in acquiring distressed securities at discounted values. It acquires risky loans, but keeps a much higher equity buffer than other banks.
HIAS is a Jewish American nonprofit organization that provides humanitarian aid and assistance to refugees. It was established on November 27, 1881, originally to help the large number of Russian Jewish immigrants to the United States who had left Europe to escape antisemitic persecution and violence. In 1975, the State Department asked HIAS to aid in resettling 3,600 Vietnam refugees. Since that time, the organization continues to provide support for refugees of all nationalities, religions, and ethnic origins. The organization works with people whose lives and freedom are believed to be at risk due to war, persecution, or violence. HIAS has offices in the United States and across Latin America, Europe, Africa, and the Middle East. Since its inception, HIAS has helped resettle more than 4.5 million people.
Apple Bank for Savings is a savings bank headquartered in Manhasset, New York and operating in the New York metropolitan area.
People's United Financial, Inc., was an American bank holding company that owned People's United Bank. The bank operated 403 branches in Connecticut, southeastern New York State, Massachusetts, Vermont, Maine, and New Hampshire. It was the second-largest full-service bank in New England, one of the largest in the northeast, and the 46th-largest in the United States.
First Citizens Bancshares, Inc. is a bank holding company based in Raleigh, North Carolina and one of the largest banks in the United States. Its primary subsidiary is First Citizens Bank, which operates over 500 branches in 23 states. A second subsidiary is Silicon Valley Bank, which operates 39 offices in 15 states.
The Greenwich Savings Bank was an American savings bank based in New York City that operated from 1833 to 1981. At the time of its closure in 1981, it was the 16th largest bank in the U.S. by total deposits.
Bank regulation in the United States is highly fragmented compared with other G10 countries, where most countries have only one bank regulator. In the U.S., banking is regulated at both the federal and state level. Depending on the type of charter a banking organization has and on its organizational structure, it may be subject to numerous federal and state banking regulations. Apart from the bank regulatory agencies the U.S. maintains separate securities, commodities, and insurance regulatory agencies at the federal and state level, unlike Japan and the United Kingdom. Bank examiners are generally employed to supervise banks and to ensure compliance with regulations.
The New York State Banking Department was created by the New York Legislature on April 15, 1851, with a chief officer to be known as the Superintendent. The New York State Banking Department was the oldest bank regulatory agency in the United States.
IBERIABANK Corporation, stylized as IBERIABANK, was an American financial holding company headquartered in Lafayette, Louisiana, and the largest bank based in the state. Founded in 1887, it had 325 combined locations, including 190 bank branches and three loan production offices in 12 states primarily throughout the South. The company had 16 wealth management locations in five states, and one Iberia Capital Partners office in New Orleans.
PacWest Bancorp is an American bank holding company based in Beverly Hills, California, with one wholly owned banking subsidiary, Pacific Western Bank. It is a subsidiary of Banc of California.
Leon Recanati is an Israeli businessman and philanthropist.
Uri Levin, is the CEO of Discount Bank, one of Israel's leading banks. Levin is a trained pilot who served in the Israeli Air Force before building his career as a business executive.
