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Richard L. Thomas, chairman and chief executive of First Chicago, would be chairman of the combined company until May 20, 1996, when he plans to resign. Verne G. Istock, chairman of NBD, would be president and chief executive of the combined company until Thomas steps down and replace Thomas as chairman of the combined company. [74]
Richard L. Thomas (June 30, 1809 – June 17, 1888) was an American politician from Maryland. He served as a member of the Maryland House of Delegates , representing Cecil County in 1849 and in 1854.
First Chicago Bank was a Chicago, United States-based retail and commercial bank tracing its roots to 1863, when it received one of the first charters under the then new National Bank Act. Over the years, the bank operated under several names including The First National Bank of Chicago and First Chicago NBD (following its 1995 merger with the ...
Charles S. Fairchild, the first president of New York Trust Company Otto T. Bannard, the company's second president Harvey Dow Gibson, the company's fourth president. On April 3, 1889, the New York Security and Trust Company received its certificate of authorization and was formed with Charles S. Fairchild as the first president and "original capital" of $1,000,000. [2]
In 1900, the bank acquired the National Union Bank of New York which had been founded in 1893 by the directors of the New York Guaranty and Indemnity Company and its successor, the Guaranty Trust, and was associated with the Mutual Life Insurance Company (Mutual Life's president, Richard A. McCurdy, was a director of National Union).
In January 1925, it was announced that the Metropolitan Trust Company, which had resources of $61,907,998, was to merge with the Chatham and Phenix National Bank, which had total resources of $226,901,582, under the name of the Chatham Phenix National Bank and Trust Company of New York, the first time a national bank in New York City was permitted to use the name "Trust Company". [15]
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.
In 1963, the company merged into the First National City Bank (which itself was a result of the 1955 merger of the National City Bank and the First National Bank into The First National City Bank of New York; [7] which was shortened to First National City Bank in 1962). [8] In 1976, the First National City Bank's name was changed to Citibank, N.A.