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One Financial Plaza, also known as the Sovereign Bank Tower and formerly known as the Hospital Trust Tower, [1] is an international-style skyscraper that stands along Kennedy Plaza in Downtown Providence, Rhode Island. The building is the second-tallest in the city and state, surpassed in height only by the Industrial National Bank Building.
The second-tallest building in Providence is One Financial Plaza, which rises 30 floors and 410 feet (125 m) and was completed in 1973. [ 3 ] As one of the early manufacturing centers in the United States, many of Providence's tallest buildings were constructed prior to 1930; among these are the Industrial National Bank Building, Turk's Head ...
Surrounding the plaza are Providence City Hall, Burnside Park, the Bank of America Building, One Financial Center, 50 Kennedy Plaza, Bank of America Ice Skating Rink, and the US District Court building. The plaza itself includes the central transfer hub for the Rhode Island Public Transit Authority (RIPTA) and a police substation. [30] [31]
Bank of America's logo from 1969 to 1998 Bank of America Tower, headquarters for Bank of America's investment banking operations, seen from Bryant Park in Midtown Manhattan, in 2015 Following passage of the Bank Holding Company Act of 1956 by the U.S. Congress , [ 24 ] BankAmerica Corporation was established for the purpose of owning and ...
In August 2013, Erste Group Bank AG was the first Austrian bank to fully repay the participation capital of EUR 1.76 billion issued in 2009 which consisted of EUR 1.22 billion from the Republic of Austria and EUR 540 million from private investors. [56]
The Providence Place mall owner, Brookfield Properties, fell behind on its mortgage in 2021. It refinanced the maturity date to 2022 with two one-year extensions.
In 2004, FleetBoston Financial was acquired by Bank of America, and the building became the Bank of America Building. In 2008, shortly before the Great Recession, the building was purchased by High Rock Development of Massachusetts for $33.2 million. [9] Bank of America was the building's sole tenant, and utilized about half the building.
The Panic of 1907 revealed that the bank was overextended, causing its temporary closure and the resignation of Perry. [2] [3] In 1950 the bank merged with the Providence National Bank to form the Providence Union National Bank. In 1953 the bank merged with the Industrial Trust Company to form the Industrial National Bank.