Independence Savings Bank
Industry | Banking |
---|---|
Fate | Acquired by Santander Bank |
Founded | January 1, 1850 |
Defunct | September 9, 2006 |
Headquarters | Brooklyn, New York |
Key people |
Charles J. Hamm, Chairman Alan H. Fishman, CEO & President Frank W. Baier, CFO[1] |
Total assets |
|
Total equity |
|
Number of employees | 1,974 (2005)[1] |
Independence Community Bank was a bank based in Brooklyn, New York. In 2006, the bank was acquired by Santander Bank.
History
The bank was originally chartered in 1850 as South Brooklyn Savings Bank.[2]
George A. Jarvis was one of the 26 co-founders and was vice president for 33 years. James S. T. Stranahan was also a co-founder.[3]
In 1975, the name of the bank was changed to Independence Savings Bank.[2]
In 1992, the bank acquired Long Island City Savings and Loan Association.[4]
In 1996, the bank acquired Bay Ridge Federal Savings Bank for $144 million in cash.[5][6]
In 1998, the bank converted from a mutual organization to a joint-stock company and became a public company via an initial public offering.[7] The bank changed its name to Independence Community Bank.[2]
In 2004, the company acquired SI Bank & Trust.[8]
In 2006, the bank was acquired by Santander Bank.[2][9]
References
- 1 2 3 4 "Independence Community Bank Corp. 2005 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
- 1 2 3 4 "Institution History for INDEPENDENCE COMMUNITY BANK (1003606)". Federal Financial Institutions Examination Council.
- ↑ "Biographical Sketches of Hezekial Jarvis, Noah Jarvis, George A. Jarvis and Williams Jarvis". Encyclopedia of Contemporary Biography (PDF). Library of Congress. V. Atlantic Publishing and Engraving Company. 1887. p. 14.
- ↑ "Institution History for BROADWAY BRANCH (856672)". Federal Financial Institutions Examination Council.
- ↑ "INDEPENDENCE AGREES TO BUY BAY RIDGE BANCORP". The New York Times. June 27, 1995.
- ↑ "Institution History for BAY RIDGE PARKWAY BRANCH (14276)". Federal Financial Institutions Examination Council.
- ↑ Ravo, Nick (February 26, 1998). "Depositors Hope for Windfall When Independence Savings Goes Public". The New York Times.
- ↑ "Institution History for STAPLETON BRANCH (729619)". Federal Financial Institutions Examination Council.
- ↑ "Sovereign Bancorp to Acquire Independence". Los Angeles Times. Reuters. October 25, 2005.