National Grand Bank of Marblehead is a

bank A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because ...

headquartered in

Marblehead, Massachusetts Marblehead is a coastal New England town in Essex County, Massachusetts, along the North Shore (Massachusetts), North Shore. Its population was 20,441 at the 2020 United States Census, 2020 census. The town lies on a small peninsula that extends ...

. It was named in honor of the brave "men o’ Marblehead" and their dangerous fishing voyages.

History

The bank was founded on March 17, 1831 as the Grand Bank, a state bank serving mariners and merchants. On October 3, 1864, the bank voted to surrender the state charter and begin operating as a national bank. December 31, 1864, it received a federal bank charter and was renamed National Grand Bank of Marblehead, commencing national operations on February 1, 1865. In 2002, the bank opened a student-operated branch in

Marblehead High School Marblehead High School is a public high school located in Marblehead, Massachusetts. History The school has approximately 970 students. The current campus began construction in 2001, and opened for the 2002–2003 school year. In 2002, Natio ...

References

{{Reflist, 1 Banks based in Massachusetts American companies established in 1831 1831 establishments in Massachusetts Banks established in 1831