- Troy Savings Bank
name = Troy Savings Bank
nrhp_type = nhl
caption = Looking up at the bank from the street
location = 32 Second Street, Troy, NY
lat_degrees = 42
lat_minutes = 43
lat_seconds = 49
lat_direction = N
long_degrees = 73
long_minutes = 41
long_seconds = 29
long_direction = W
built = 1870
George B. Post
architecture= Second Empire, Italianate
April 11, 1989cite web|url=http://tps.cr.nps.gov/nhl/detail.cfm?ResourceId=2049&ResourceType=Building
title=Troy Savings Bank|date=2007-09-19|work=National Historic Landmark summary listing|publisher=National Park Service]
April 11, 1989cite web|url=http://www.nr.nps.gov/|title=National Register Information System|date=2007-01-23|work=National Register of Historic Places|publisher=National Park Service]
refnum = 89001066
governing_body = Troy Savings Bank Music Hall Corporation
Troy Savings Bank, now owned by
First Niagara Financial Group Inc.( [http://finance.yahoo.com/q?s=fnfg FNFG] ) is a bankin Troy, Rensselaer County, New York, U.S.A..
It is notable for having a
music hallconstructed on the second floor above the bank itself (the Troy Savings Bank Music Hall), which is renowned for its acoustics, including a huge Odell concert organ.
History of the bank and music hall
The Troy Savings Bank was founded in 1823 [ [http://www.troymusichall.org/about.asp About The Troy Savings Bank Music Hall ] ] , and moved to its current location in 1870. The plans for the new building included a music hall on the upper floor.
In the early years of the 20th century the Music Hall featured performances from artists such as
Lillian Nordica, Henri Vieuxtemps, Ignace Jan Paderewski, Albert Spaulding, Sergei Rachmaninoff, Myra Hessand Jose Iturbi. In the 1930s and 1940s, artists including Vladimir Horowitz, Yehudi Menuhinand Artur Rubensteinplayed there. It was a usual stop for a musician on a tour around America.
Apparently not up to modern
building codes, there was long a tradition that prior to each performance the Fire Marshalwould come out on stage and announce "There is absolutely no smoking in the Hall. If you have to smoke, you can hit the streets at half time."
World War II, Troy's wealth declined and thus so did the bank's. Many public initiatives were begun to save the bank (and thus the music hall) from closure. Ideas included establishing a Museum of Industrial and Folk Art downstairs and renting the Hall itself to the area's many colleges. In 1989 the building was declared a National Historic Landmark.,cite web|url=PDFlink| [http://pdfhost.focus.nps.gov/docs/NHLS/Text/89001066.pdf "Troy Savings Bank", undated, by Carolyn Pitt] |0.98 MiB |title=National Register of Historic Places Inventory-Nomination|date=undated|publisher=National Park Service] ,cite web|url=PDFlink| [http://pdfhost.focus.nps.gov/docs/NHLS/Photos/89001066.pdf Troy Savings Bank--Accompanying photos, 2 exterior from 1920s and 1875, 1 interior from 1940.] |776 KiB |title=National Register of Historic Places Inventory-Nomination|date=undated|publisher=National Park Service]
History of the Odell Opus 190 Organ
The organ at the Troy Savings Bank Music Hall was built in 1882 as Opus 190 of J. H. & C. S. Odell of
Yonkers, New York, and originally installed in the home of New York Cityfinancier William Belden. The original purchase price of the instrument was $12,470. The Troy Savings Bank purchased the organ from Mr. Belden in 1889 and the instrument was installed in the Music Hall during the months of August through October, 1890. The first notes from the Odell Opus 190 in the Hall were heard on October 20, 1890. The organ was maintained in usable condition until the 1960s, at which point it fell into disrepair.
In early 2006, an effort was mounted to restore the organ after decades of neglect. Under the impetus of the
Organ Historical Societyand under the direction of organ builder S.L Huntington & Co. of Stonington, Connecticut, a crew of volunteers worked over the course of several weeks to restore the organ to playable condition. The instrument was featured during the Organ Historical Society's 2006 convention.
Troy Savings Bank Music Hall
In 1979, the Troy Savings Bank Music Hall Revitalization Committee was founded by private citizens. With the bank's support and additional funding from the city and county for its administration, the Troy Savings Bank Music Hall Corporation was founded. A
not-for-profitorganization which still leases the Hall from the bank, it began its ownership with a performance by the Benny Goodman Band in 1980.
Corporate Re-Structuring and Buyout
* In 1999, the Troy Savings Bank converted to a public corporation [ [http://www.tsbfoundation.org/ The Troy Savings Bank Charitable Foundation: Home - Troy Savings Bank, Music Hall, grants, foundation, community development, Charitable Foundation, youth development ] ] .
* On January 16, 2004,
First Niagara Financial Group, Inc. acquired Troy Financial Corporation, the holding company for the Troy Savings Bank, and Troy Commercial Bank[ [http://www.snl.com/irweblinkx/corporateprofile.aspx?IID=4004398 First Niagara | Investor Relations ] ] .
* [http://www.troymusichall.org/ The Troy Music Hall]
* [http://www.tsbfoundation.org/ The Troy Savings Bank Charitable Foundation]
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