Straus National Bank And Trust Company (New York)
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The Straus National Bank and Trust Company was a financial institution based in
New York City New York, often called New York City or NYC, is the List of United States cities by population, most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the L ...
. Founded in In 1928, in 1931 it merged with the Continental Bank and Trust Company in New York.


History


1928-1930: Founding and growth

In 1928 the Straus National Bank and Trust Company was formed, with executives such as H. S. Martin joining from the former S. W. Straus & Co. The company made its first report in January 1929. Founder Simon W. Straus died on September 7, 1930. In December 1930, Straus was replaced as head of Straus National Bank by C. H. Marfield.


1931: Absorption by Continental

On August 3, 1931, it was reported that on September 16, the merger of Continental Bank and Trust Company and Straus National Bank and Trust Company, both of New York, and the acquisition “by the merged bank of the International Trust Company, subject to ratification by stockholders,” would be effective. On September 4, 1931, Straus National stockholders approved the proposal. The consolidation was effective on September 15, 1931, and the merged institution acquired certain assets of the International Trust Company. The Continental in its enlarged form opened the morning of September 16, 1931. Chairman of the consolidated bank was Frederick H. Hornby, who had formerly been president of Continental. President C. Howard Marfield was of Straus National as former president.


See also

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List of bank mergers in the United States This is a partial list of major banking company mergers in the United States. Table Mergers chart This 2012 chart shows some of the mergers noted above. Solid arrows point from the acquiring bank to the acquired one. The lines are labeled ...
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Banking in the United States Banking in the United States began by the 1780s along with the country's founding and has developed into highly influential and complex system of banking and financial services. Anchored by New York City and Wall Street, it is centered on vario ...


References

{{reflist Defunct banks of the United States Banks based in New York City Defunct companies based in New York (state)