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Providence Institution For Savings
Old Stone Bank was a popular Rhode Island banking institution that was founded in Providence, Rhode Island, Providence in 1819 as a mutual savings bank that was called Providence Institution for Savings. The savings bank was the fourth largest bank in Rhode Island when it was declared insolvent by the Office of Thrift Supervision on January 29, 1993. Providence-based Citizens Bank acquired all of the savings bank's deposits the following year. History In 1969, Old Stone Corporation was formed as the holding company for the savings bank. In the early 1970s the bank adopted as its mascot and "spokesperson" cartoon character Fred Flintstone, who would say in commercials "Yabba-dabba-doo, love that Old Stone Bank!" The bank's ATMs were called "Ready Freddy". Old Stone Bank collapsed in the 1980s when the federal government convinced it to take over two failed savings and loan institutions, but reneged on its promise that it would not hurt the bank to do so. In 1992, Old Stone fil ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Company
A public company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange (listed company), which facilitates the trade of shares, or not (unlisted public company). In some jurisdictions, public companies over a certain size must be listed on an exchange. In most cases, public companies are ''private'' enterprises in the ''private'' sector, and "public" emphasizes their reporting and trading on the public markets. Public companies are formed within the legal systems of particular states, and therefore have associations and formal designations which are distinct and separate in the polity in which they reside. In the United States, for example, a public company is usually a type of corporation (though a corporation need not be a public company), in the United Kingdom it is usually a public limited company (plc), i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
