National City at this time was the banker of Standard Oil, and the Chicago banking factions accused US Secretary of the Treasury L. By 1906, 11% of the federal government's bank balances were held by National City. It helped finance the Panama Canal in 1904. The bank became the largest bank in New York City after the Panic of 1893 and the largest bank in the U.S. By 1868, it was one of the largest banks in the United States. In 1865, the bank joined the national banking system of the United States under the National Bank Act and became The National City Bank of New York. The bank financed war bonds for the War of 1812, serving as a founding member of the financial clearinghouse in New York (1853), underwriting the Union during the American Civil War with $50 million in war bonds, opening the first foreign exchange department of any bank (1897), and receiving a $5 million deposit to be given to Spain for the US acquisition of the Philippines (1899). In 1831, City Bank was the site of one of America's first bank heists when two thieves made off with tens of thousands of dollars' worth of bank notes, and 398 gold doubloons. Later presidents of the bank included Gorham A. During Taylor's ascendancy, the bank functioned largely as a treasury and finance center for Taylor's own extensive business empire. After the Panic of 1837, Moses Taylor acquired control of the company. After Osgood's death in August 1813, William Few became President of the bank, staying until 1817, followed by Peter Stagg (1817–1825), Thomas Smith (1825–1827), Isaac Wright (1827–1832), and Thomas Bloodgood (1832–1843). The first president of the City Bank was the statesman and retired Colonel, Samuel Osgood. The City Bank of New York was founded on June 16, 1812. 1798) Former Hankou offices of National City Bank ( Wuhan, China) 52 Wall Street, c. The house to the far right became City Bank of New York's first home at 38 Wall Street, later renumbered as No.52. History View of the northeast corner of William and Wall streets. Ĭitibank is the 4th largest bank in the United States in terms of assets. branches are concentrated in six metropolitan areas: New York, Chicago, Los Angeles, San Francisco, Washington, D.C., and Miami. The bank has 2,649 branches in 19 countries, including 723 branches in the United States and 1,494 branches in Mexico operated by its subsidiary Banamex. Citibank was founded in 1812 as the City Bank of New York, and later became First National City Bank of New York. banking subsidiary of financial services multinational Citigroup. stands for " National Association" stylized as citibank) is the primary U.S. Citigold account branding - additional benefits for customers with $200,000 at the firmĬitibank, N.A.
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