Dollar Savings Bank Explained

Dollar Savings Bank Headquarters
Designated Other2 Name:New York City Landmark
Designated Other2 Abbr:NYCL
Designated Other2 Link:New York City Landmarks Preservation Commission
Designated Other2 Number:2370
Designated Other2 Color:
  1. ffe978
Designated Other2 Date:January 12, 2010
Location:2792 3rd Ave, the Bronx
Coordinates:40.815°N -73.9189°W
Architect:Renwick, Aspinwall & Tucker[1]
Architecture:Classical Revival
Added:April 27, 2011
Refnum:11000228

Dollar Savings Bank of New York was a bank that operated in New York City between 1890 and 2004.

History

Dollar Savings Bank of New York was formed on June 23, 1890,[2] of possibly 1887, founded by John Haffen.[3]

In February 1983, after it was on the verge of bank failure, the Federal Deposit Insurance Corporation and the New York State Banking Department arranged for a merger of the bank with Dry Dock Savings Bank to form Dollar Dry Dock Savings Bank.

On February 21, 1992, the bank and its 21 branches were seized by the New York State Banking Department with the Federal Deposit Insurance Corporation named as receiver. Emigrant Savings Bank bought 20 of the branches and the Flushing branch was purchased by Apple Bank.[4]

In 2011, the headquarters building in the Bronx was listed on the National Register of Historic Places.[5]

Notes and References

  1. Web site: Landmarks Preservation Commission. (Former) Dollar Savings Bank. City of New York. September 3, 2014. https://web.archive.org/web/20110604111307/http://www.nyc.gov/html/lpc/downloads/pdf/reports/dollarbankBx.pdf. June 4, 2011. dead.
  2. Web site: Institution History for DOLLAR DRY DOCK BANK (26103) . Federal Financial Institutions Examination Council.
  3. https://web.archive.org/web/20110604111307/http://www.nyc.gov/html/lpc/downloads/pdf/reports/dollarbankBx.pdf
  4. News: Dollar Dry Dock Bank Shut . MICHAEL . QUINT . . February 22, 1992.
  5. Web site: National Register of Historic Places listings for May 6, 2011 . . May 6, 2011.