Corn Exchange Bank

The Corn Exchange Bank was founded in 1853 in New York, but had branches in other states, including Pennsylvania, Wisconsin, and Nebraska. It was a retail bank that acquired many community banks. In 1929 it was renamed the Corn Exchange Bank and Trust Company. In 1954 it merged with Chemical Bank and the combined entity took the name Chemical Corn Exchange Bank. After Chemical Corn merged with New York Trust, the "Corn" was dropped.

In 1855, the bank moved into an existing building at the northwest corner of William and Beaver Streets. In 1894, the bank completed a new headquarters, an 11-story building designed by Robert Henderson Robertson, at 11-15 William Street.

Between 1923 and 1925 it held a small stake in the Connecticut-chartered Bank of Central and South America, together with a number of other New York banks.

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). In 1896 the Astor Place Bank had acquired the Empire State Bank (1888-12/1896).
• 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). The Eleventh Ward Bank in 1867 purchased Banking New-York Dry Dock Company.
• 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).

Trivia

The Corn Exchange Bank in Philadelphia, Pennsylvania was famously robbed by Willie Sutton in February 1933.

See also

• JPMorgan Chase - the successor company

References

• Rachelle B's blog article on the topic
• The Corn Exchange Bank; A 'Noble Monument to Thrift' With an Unusually Modern Air. New York Times, November 1, 1987