The Corn Exchange Bank was a retail

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 ...

founded in 1853 in

New York New York most commonly refers to: * New York City, the most populous city in the United States, located in the state of New York * New York (state), a state in the northeastern United States New York may also refer to: Film and television * '' ...

state. Over the years, the company acquired many community banks.

History

In 1855, the Corn Exchange Bank moved into an existing building 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 ...

at the northwest corner of

William William is a male given name of Germanic origin.Hanks, Hardcastle and Hodges, ''Oxford Dictionary of First Names'', Oxford University Press, 2nd edition, , p. 276. It became very popular in the English language after the Norman conquest of Engl ...

and Beaver Streets in

Manhattan Manhattan (), known regionally as the City, is the most densely populated and geographically smallest of the five boroughs of New York City. The borough is also coextensive with New York County, one of the original counties of the U.S. state ...

. In 1894, the bank completed its new headquarters, an 11-story building designed by

Robert Henderson Robertson Robert Henderson Robertson (April 29, 1849 – June 3, 1919) was an American architect who designed numerous houses, institutional and commercial buildings, and churches. Life and career Robertson was born in Philadelphia of Scot ...

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 Connecticut () is the southernmost state in the New England region of the Northeastern United States. It is bordered by Rhode Island to the east, Massachusetts to the north, New York to the west, and Long Island Sound to the south. Its cap ...

-chartered

Bank of Central and South America The Bank of Central and South America was established in Connecticut in 1922. The next year it acquired some of the assets of the Mercantile Bank of the Americas (est. 1915), including its entire interest in the National Bank of Nicaragua, Banco M ...

. In 1929, it was renamed the Corn Exchange Bank and Trust Company. In 1954, it merged with

Chemical Bank Chemical Bank was a bank with headquarters in New York City from 1824 until 1996. At the end of 1995, Chemical was the third-largest bank in the U.S., with about $182.9 billion in assets and more than 39,000 employees around the world. Beginning ...

and the combined entity took the name Chemical Corn Exchange Bank. After Chemical Corn merged with

New York Trust Company The New York Trust Company was a large trust and wholesale-banking business that specialized in servicing large industrial accounts. It merged with the Chemical Corn Exchange Bank and eventually the merged entity became Chemical Bank. History On ...

in 1959, the words "Corn Exchange" were dropped, creating the Chemical Bank New York Trust Company. 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 Greenwich Village ( , , ) is a neighborhood on the west side of Lower Manhattan in New York City, bounded by 14th Street to the north, Broadway to the east, Houston Street to the south, and the Hudson River to the west. Greenwich Village ...

. The building was likely expanded following the bank's merger with

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 The New York City Landmarks Preservation Commission (LPC) is the New York City agency charged with administering the city's Landmarks Preservation Law. The LPC is responsible for protecting New York City's architecturally, historically, and cu ...

in 1965 in response to the mounting losses of historically significant buildings in New York City, most notably the old

Pennsylvania Station Pennsylvania Station (often abbreviated Penn Station) is a name applied by the Pennsylvania Railroad (PRR) to several of its grand passenger terminals. Several are still in active use by Amtrak and other transportation services; others have been ...

. The Grove Street building currently houses a Chase Bank branch. Chase Manhattan (now known as

JPMorgan Chase JPMorgan Chase & Co. is an American multinational investment bank and financial services holding company headquartered in New York City and incorporated in Delaware. As of 2022, JPMorgan Chase is the largest bank in the United States, the ...

) merged with Chemical Bank in 1995.

Acquisition history

* 1899: Astor Place Bank (founded 1891), Hudson River Bank of the City of New York (founded 1888), and Queens County Bank (founded 1873 as Flushing and Queens County Bank). * 1900: Home Bank (founded 1883). * 1902: Mechanics & Traders' Bank of Brooklyn (founded 1867), Eleventh Ward Bank (founded 1867), and Union Square Bank of the City of New York (founded 1889). * 1905: First National Bank of Staten Island at New Brighton (founded 1886). * 1913: Mount Morris Bank (founded 1881). * 1914: Washington Trust Company of the City of New York (founded 1889). * 1928: Stapleton National Bank (founded in 1902).

References

;Notes ;Sources JPMorgan Chase Banks established in 1853 Banks based in New York City 1954 mergers and acquisitions {{US-bank-stub

History

Acquisition history

See also

References