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Chemical Bank was a bank with headquarters in New York City from 1824 until 1996. At the end of 1995, Chemical was the third-largest bank in the U.S., with about $182.9 billion in assets and more than 39,000 employees around the world.
Jul 8, 2024 · Chemical Banking Corporation, former American bank holding company that merged with The Chase Manhattan Corporation in 1996. The holding company’s principal subsidiary was Chemical Bank, which was chartered in 1824 in New York City as a division of the New York Chemical Manufacturing Company.
subsidiary of Chemical Banking Corporation. …holding company’s principal subsidiary was Chemical Bank, which was chartered in 1824 in New York City as a division of the New York Chemical Manufacturing Company. Manufacturing activities were dropped in 1832.
Acquired by Chemical Bank and assumed the name Chemical after the 1991 merger. Manufacturers Hanover Corporation was an American bank holding company that was formed as parent of Manufacturers Hanover Trust Company, a large New York City bank formed through a merger in 1961.
Merging with Manufacturers Hanover and Chase Manhattan. History of Chemical Bank. Chemical Bank was one of the largest banks in a nation of more than 10,000 banks. But when it was established by six merchants in 1824, it was one of only a handful of banks in the country.
Chemical Bank was thus formed as a division of the New York Chemical Manufacturing Company on April 24, 1824, with Melick as its first president. The bank initially served New York's mercantile community. At the time there were only 12 banks in New York City.
In 1959, the New York Trust Company, which was largely a wholesale institution, merged with the Chemical Corn Exchange Bank, largely a "retail" institution, creating the Chemical Bank New York Trust Company, the third largest bank in New York City and the fourth largest in the nation.
