Independence Savings Bank
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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.[1] 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.[2]
In 1975, the name of the bank was changed to Independence Savings Bank.[1] The bank acquired Long Island City Savings and Loan Association in 1992.[3] Four years later, Independence Savings Bank acquired Bay Ridge Federal Savings Bank for $144 million in cash.[4][5] In 1998, the bank converted from a mutual organization to a joint-stock company and became a public company via an initial public offering.[6] The same year, the bank changed its name to Independence Community Bank.[1] Independence Community Bank acquired SI Bank & Trust in 2004[7] and was itself acquired by Santander Bank two years later.[1][8]
References
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