Dollar Savings Bank
Encyclopedia
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.
In 2011 the building was listed on the National Register of Historic Places
.
The Bronx
The Bronx is the northernmost of the five boroughs of New York City. It is also known as Bronx County, the last of the 62 counties of New York State to be incorporated...
, New York City
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
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
Dollar Dry Dock Savings Bank
Dollar Dry Dock Savings Bank was a savings bank that operated in New York from 1983 to 1992.-History:The bank was formed in 1983 by the merger of Dollar Savings Bank, Bronx, New York and Dry Dock Savings Bank, New York City. At the time of the merger, Dollar Savings Bank had 13 branches and Dry...
, which was ultimately liquidated in 1992.
Over the years it expanded into Manhattan
Manhattan
Manhattan is the oldest and the most densely populated of the five boroughs of New York City. Located primarily on the island of Manhattan at the mouth of the Hudson River, the boundaries of the borough are identical to those of New York County, an original county of the state of New York...
. 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
Emigrant Savings Bank
Emigrant Savings Bank is the oldest savings bank in New York City and the largest privately owned bank in the country. , Emigrant has 35 branches located in the New York metro area and has assets of $14.3 billion...
bought 20 of the branches with the Flushing, NY branch being purchased by Apple Bank for Savings
Apple Bank for Savings
The Apple Bank for Savings provides private and commercial banking services to the greater New York City area. It is the 4th largest New York-based bank and has 50 branches in Manhattan, Brooklyn, Queens, Staten Island and the Bronx, as well as Westchester, Suffolk and Nassau counties...
.
On February 14, 2004, Dollar Savings Bank, Newark, New Jersey was closed by the Office of Thrift Supervision and the Federal Deposit Insurance Corporation
Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation is a United States government corporation created by the Glass–Steagall Act of 1933. It provides deposit insurance, which guarantees the safety of deposits in member banks, currently up to $250,000 per depositor per bank. , the FDIC insures deposits at...
(FDIC) was named Receiver.
In 2011 the building was listed on the National Register of Historic Places
National Register of Historic Places
The National Register of Historic Places is the United States government's official list of districts, sites, buildings, structures, and objects deemed worthy of preservation...
.