| Industry | Banking |
|---|---|
| Founded | 1892 |
| Defunct | 1983 |
| Fate | Acquired by Norstar Bancorp |
| Headquarters | Rochester, New York |
Security Trust Company of Rochester was a bank headquartered in Rochester, New York. In 1983, the bank was acquired by Norstar Bank, which was acquired by FleetBoston Financial, which was in turn acquired by Bank of America.
The bank managed trusts for some of the wealthiest individuals in Rochester, including George Eastman, the founder of Kodak. [1]
The bank was formed in 1892. [1] [2]
The first president of the bank was Hiram W. Sibley, whose father, Hiram Sibley, was one of the founders of Western Union. [1]
In 1981, a deadly shootout occurred at a branch of the bank. [1] [3] Also in 1981, Erland E. "Erkie" Kailbourne was named president of the bank. [4]
In late 1983, the bank was acquired by Norstar Bancorp and became Security Norstar Bank. In 1987, the bank was fully integrated into Norstar and dropped the "Security" from its name. [1]
The first headquarters of the bank was demolished and replaced by the Rochester Riverside Convention Center. [1] The second headquarters, a mid-century modern building with a unique crenelated roof on both the tower and connected banking office, still functions as the downtown Bank of America branch. The penthouse now serves as an event space for corporate rentals and private parties.
Chemical Bank, headquartered in New York City, was the principal operating subsidiary of Chemical Banking Corporation, a bank holding company. In 1996, it acquired Chase Bank, adopted the Chase name, and became the largest bank in the United States. Prior to the 1996 merger, Chemical was the third-largest bank in the U.S., with $182.9 billion in assets and more than 39,000 employees. In addition to operations in the U.S., it had a major presence in Japan, Germany, and the United Kingdom. It was active in both corporate banking as well as retail banking as well as investment banking and underwriting corporate bonds and equity.
FleetBoston Financial was a Boston, Massachusetts–based bank created in 1999 by the merger of Fleet Financial Group and BankBoston. In 2004 it merged with Bank of America; all of its banks and branches were converted to Bank of America.
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M&T Bank Corporation is an American bank holding company headquartered in Buffalo, New York. It operates 1,000+ branches in 12 states across the Eastern United States, from Maine to Central Virginia. Until May 1998, the bank's holding company was named First Empire State Corporation.
The Charles Schwab Corporation is an American multinational financial services company. It offers banking, commercial banking, investing and related services including consulting, and wealth management advisory services to both retail and institutional clients. It has over 380 branches, primarily in financial centers in the United States and the United Kingdom. It is on the list of largest banks in the United States by assets. As of December 31, 2023, it had $8.5 trillion in client assets, 34.8 million active brokerage accounts, 5.2 million corporate retirement plan participants, and 1.8 million banking accounts. It also offers a donor advised fund for clients seeking to donate securities. It was founded in San Francisco, California, and is headquartered in Westlake, Texas.
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Marine Midland Bank was an American bank formerly headquartered in Buffalo, New York, with several hundred branches throughout the state of New York. In 1998, branches extended to Pennsylvania. It was acquired by HSBC in 1980 and changed its name to HSBC Bank USA in 1999. As a result of several transactions since the turn of the millennium, much of what was once Marine Midland is now part of KeyBank with the exception of Downstate New York and Pennsylvania, that is now part of Citizens Bank. Branches in Seattle are part of Cathay Bank.
Republic New York Corporation was the holding company for Republic National Bank of New York, Safra Republic Holdings, and Safra Republic Bank.
Manufacturers Hanover Corporation was an American bank holding company that was formed as parent of Manufacturers Hanover Trust Company, a large New York City bank formed through a merger in 1961 with ancestor companies, especially the Manufacturers Trust Company, having had a long history in New York banking going back to the 1850s. After 1969, Manufacturers Hanover Trust became a subsidiary of Manufacturers Hanover Corporation. Throughout most of its existence, Manufacturers Hanover Trust was the fourth-largest bank in the United States.
Hiram W. Sibley, was an American industrialist, entrepreneur, and philanthropist who was a pioneer of the telegraph in the United States.
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Stifel Financial Corp. is an American multinational independent investment bank and financial services company created under the Stifel name in July 1983 and listed on the New York Stock Exchange on November 24, 1986. Its predecessor company was founded in 1890 as the Altheimer and Rawlings Investment Company and is headquartered in downtown St. Louis, Missouri.
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.
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Bank of America Private Bank was founded in 1853 as the United States Trust Company of New York. It operated independently until 2000, when it was acquired by Charles Schwab, and Co. and subsequently sold to, and became a subsidiary of, Bank of America in 2007. Bank of America Private Bank provides investment management, wealth structuring, and credit and lending services to clients.
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Emily Sibley Watson was a Rochester, New York philanthropist and patron of the arts. Youngest child of Western Union founder Hiram Sibley and Elizabeth Tinker Sibley, she grew up in a family that valued service, faith, and the arts. She is best known as the founder of the Memorial Art Gallery of the University of Rochester, and patron of Rochester's Hochstein School of Music & Dance. With her mother, she was a major supporter of the Homeopathic Hospital.