The Corn Exchange Bank was a retail
bank founded in 1853 in
New York state. Over the years, the company acquired many community banks.
History
In 1855, the Corn Exchange Bank moved into an existing building in
New York City at the northwest corner of
William and
Beaver Streets in
Manhattan. In 1894, the bank completed its new headquarters, an 11-story building designed by
Robert Henderson Robertson located at 11-15 William Street. Between 1923 and 1925, together with a number of other New York banks, it held a small stake in the
Connecticut-chartered
Bank of Central and South America. 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 Company in 1959, the words "Corn Exchange" were dropped, creating the
Chemical Bank New York Trust Company.[1]
As late as 1928, photographs show that the Corn Exchange Bank had a branch in a building on Grove Street, approximately 50 feet east of
Seventh Avenue South in
Greenwich Village. The building was likely expanded following the bank's merger with
Chemical Bank in 1954. The enlarged building's exterior appearance is virtually unchanged since 1954, likely due to the creation of the
New York City Landmarks Preservation Commission in 1965 in response to the mounting losses of historically significant buildings in New York City, most notably the old
Pennsylvania Station.[2] The Grove Street building currently houses a Chase Bank branch. Chase Manhattan (now known as
JPMorgan Chase) merged with Chemical Bank in 1995.[3]
Acquisition history
1899: Astor Place Bank (founded 1891),[a][5] Hudson River Bank of the City of New York (founded 1888),[5] and Queens County Bank (founded 1873 as Flushing and Queens County Bank).[6]
1902: Mechanics & Traders' Bank of Brooklyn (founded 1867),[8] Eleventh Ward Bank (founded 1867),[9][b] and Union Square Bank of the City of New York (founded 1889).[10]
1905: First National Bank of Staten Island at New Brighton (founded 1886).[11]