- Dollar Savings Bank
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See also: Dollar Bank
South Bronx
Dollar Savings Bank was founded in The Bronx, New York City in 1890. It went through a series of name changes and mergers, including a merger with the Dry Dock Savings Bank of New York, which formed Dollar Dry Dock Savings Bank, which was ultimately liquidated in 1992.
Over the years it expanded into Manhattan. By the time of deregulation in 1981, it was starting to have trouble coping with rising interest rates and lower fixed loan rates. In 1982, the FDIC and the New York State Banking Dept arranged for it to be merged with the Dry Dock Savings Bank headquartered in Manhattan. By the late 1980s the new bank Dollar Dry Dock Savings Bank started to run into trouble. On February 21, 1992 the bank was closed by the NYS banking department with the FDIC named as receiver. Emigrant Savings bought 20 of the branches with the Flushing, NY branch being purchased by Apple Bank for Savings.
On February 14, 2004, Dollar Savings Bank, Newark, New Jersey was closed by the Office of Thrift Supervision and the Federal Deposit Insurance Corporation (FDIC) was named Receiver.[1]
In 2011 the building was listed on the National Register of Historic Places.[2]
References
- ^ fdic.gov
- ^ "National Register of Historic Places listings for May 6, 2011". National Park Service. May 6, 2011. http://www.nps.gov/history/nr/listings/20110506.htm. Retrieved May 6, 2011.
Categories:- Banks based in New York City
- Defunct banks of the United States
- Bank buildings on the National Register of Historic Places in New York
- National Register of Historic Places in The Bronx
- Banks established in 1890
- Defunct companies based in New York
- United States bank stubs
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