Industry | Banking |
---|---|
Founded | April 1, 1824 |
Headquarters | Brooklyn, New York |
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The Long Island Bank was the first bank in Brooklyn, New York.[ citation needed]
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In the early 1820s, Brooklyn was the 16th largest inhabited place in the United States[ citation needed]; however, Brooklyn had no bank and no insurance company.
In 1824, the bank was incorporated and became the first bank in Brooklyn.[ citation needed] The initial capital of the bank was $300,000 in $50 shares. Bank notes were issued from 3 August 1824. [1] [2] Its offices were at 7 Front Street in Brooklyn. The first President was Leffert Lefferts. [1]
In 1867, William S. Herriman, president of the bank, died and was replaced by William C. Fowler. [3]