 | |
 Pre-1894 building | |
| Company type | Public company |
|---|---|
| Industry | Banking, finance |
| Founded | 1853 |
| Fate | defunct |
| Successor | JPMorgan Chase |
| Headquarters | New York state |
| Products | Financial services |
The Corn Exchange Bank was a retail bank founded in 1853 in New York state. Over the years, the company acquired many community banks.
In 1855, the Corn Exchange Bank moved into an existing building in New York City at the northwest corner of William and Beaver Streets in Manhattan. In 1894, the bank completed its new headquarters, an 11-story building designed by Robert Henderson Robertson located at 11-15 William Street. Between 1923 and 1925, together with a number of other New York banks, it held a small stake in the Connecticut-chartered Bank of Central and South America. 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 Company in 1959, the words "Corn Exchange" were dropped, creating the Chemical Bank New York Trust Company. [1]
As late as 1928, photographs show that the Corn Exchange Bank had a branch in a building on Grove Street, approximately 50 feet east of Seventh Avenue South in Greenwich Village. The building was likely expanded following the bank's merger with Chemical Bank in 1954. The enlarged building's exterior appearance is virtually unchanged since 1954, likely due to the creation of the New York City Landmarks Preservation Commission in 1965 in response to the mounting losses of historically significant buildings in New York City, most notably the old Pennsylvania Station. [2] The Grove Street building currently houses a Chase Bank branch. Chase Manhattan (now known as JPMorgan Chase) merged with Chemical Bank in 1995. [3]
Washington Mutual, Inc. was an American savings bank holding company based in Seattle. It was the parent company of WaMu Bank, which was the largest savings and loan association in the United States until its collapse in 2008.
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Manufacturers Hanover Corporation was the bank holding company formed as parent of Manufacturers Hanover Trust Company, a large New York bank formed by a merger in 1961. After 1969, Manufacturers Hanover Trust became a subsidiary of Manufacturers Hanover Corporation. Charles J. Stewart was the company's first president and chairman.
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A proposal to merge the New York Trust Company and the Chemical Corn Exchange Bank has been approved by directors of both institutions, it was announced last night.
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