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It was the ninth-largest privately-owned bank in the United States in 2012, with assets of $8.1 billion. [1] As of June 2021, it has assets of $5.75 billion, and is ranked 244th in asset size among all banks in the United States. [2] Emigrant Bank has several online-only divisions including Emigrant Direct and Dollar Savings Direct.
Dollar Savings Bank of New York was formed on June 23, 1890, [3] of possibly 1887, founded by John Haffen. [4]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. [1] [2] At that time, the bank had $3.7 billion in assets. [5]
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Dollar Savings Bank was the first bank in Pennsylvania and among the first ten in the nation to use an online teller accounting system. On April 1, 1975, Dollar Savings Bank launched Pay-By-Phone, a fully automated bill payment service for savings account customers. The system was the first in Pennsylvania and the second in the United States ...
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Emigrant Savings Bank initially took up the banking hall, while the other floors were rented out. [22] [23] The New York Supreme Court announced in March 1912 that it would take up the 13th floor and half of the 12th floor at the Emigrant Savings Bank Building. The Supreme Court, which had a shortage of space in the Tweed Courthouse (then known ...
Dime Savings Bank of New York; Dollar Savings Bank; Duncan, Sherman & Company; E. Emigrant Bank; F. Farmers' Loan and Trust Company; Financo; First American ...