The Dime Savings Bank of New York, originally the Dime Savings Bank of Brooklyn, was a bank headquartered in

Brooklyn Brooklyn () is a borough of New York City, coextensive with Kings County, in the U.S. state of New York. Kings County is the most populous county in the State of New York, and the second-most densely populated county in the United States, be ...

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 ...

. It operated from 1859 to 2002. The bank was formerly headquartered at

9 DeKalb Avenue The Brooklyn Tower (originally referred to as 340 Flatbush Avenue Extension and subsequently 9 DeKalb Avenue) is a supertall mixed-use, primarily residential skyscraper in the Downtown Brooklyn neighborhood of New York City. Developed by JDS Deve ...

, built in 1906-08 in

Downtown Brooklyn Downtown Brooklyn is the third largest central business district in New York City after Midtown Manhattan and Lower Manhattan), and is located in the northwestern section of the borough of Brooklyn. The neighborhood is known for its office and ...

. Dime was acquired by

Washington Mutual Washington Mutual (often abbreviated to WaMu) was the United States' largest savings and loan association until its collapse in 2008. A savings bank holding company is defined in United States Code: Title 12: Banks and Banking; Section 1842: Def ...

in 2002, which subsequently failed in 2008 and was acquired by

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 ...

, which currently owns all former Dime assets.

History

In July 1994, Dime Bancorp announced the pending acquisition of the

Hewlett, New York Hewlett is a hamlet and census-designated place (CDP) in the Town of Hempstead in Nassau County, on Long Island, in New York, United States. The population was 6,819 at the 2010 census. Hewlett is usually included as one of the Five Towns in the ...

-based Anchor Bancorp with its Anchor Savings Bank, FSB subsidiary for $1.2 billion in stock. The acquisition was completed in January 1995. The merger resulted in a newly combined company with 76 branches in New York, 18 in New Jersey and 5 in Florida. In September 1999, Hudson United Bancorp and Dime Bancorp announced a merger of equals that was worth $2 billion in stock. But before the merger could be implemented, North Fork Bancorporation initiated a hostile takeover attempt of Dime in March 2000. Since Dime was preoccupied with defending itself against North Fork, Dime and Hudson United decided to terminate their merger agreement in April. North Fork finally gave up in September 2000 after spending several months filling lawsuits against Dime and defending itself against counter lawsuits that were filed by Dime. In June 2001,

announced the pending acquisition of Dime Bancorp for $5.2 billion in cash and stock. The acquisition was completed in January 2002. At the time of its acquisition, Dime had 123 branch offices in the New York City area in the states of New York and New Jersey. Washington Mutual subsequently failed in 2008. Dime was included in the assets that were sold to

by the

Federal Deposit Insurance Corporation The Federal Deposit Insurance Corporation (FDIC) is one of two agencies that supply deposit insurance to depositors in American depository institutions, the other being the National Credit Union Administration, which regulates and insures cred ...

after Washington Mutual was seized and placed in receivership.

Headquarters

The bank's headquarters at 9 DeKalb Avenue were built in 1906-08 and were designed by

Mowbray and Uffinger Mowbray & Uffinger comprised an architectural partnership in New York City formed in 1895. Known for bank buildings and as vault engineers they designed over 400 banks in the pre-World War II era throughout the country. The principals were Louis M ...

. It was significantly enlarged by Halsey, McCormack and Helmer in 1931-32. The headquarters is a

New York City designated landmark 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 ...

. p.588 In December 2015, developers Michael Stern and Joe Chetrit closed on a $90 million purchase of the Dime Savings Bank headquarters. They planned to incorporate the structure into

, planned as be the tallest building in Brooklyn. Construction began in 2018 and is scheduled to be completed in 2022.

References

Notes

External links

* * * * {{DEFAULTSORT:Dime Savings Bank Of New York Banks based in New York City Companies based in Brooklyn Banks established in 1859 Banks disestablished in 2002 1859 establishments in New York (state) 2002 disestablishments in New York (state) Defunct banks of the United States American companies established in 1859