![]() This acquisition gave Apple a total of 77 branches in greater New York and close to $13 billion in assets. On April 20, 2013, Apple Bank acquired 29 branches and the related deposit accounts and services from Emigrant Savings Bank. In August 1999, Stahl died and ownership of the bank passed to trusts. In 1994, Alan Shamoon became the chief executive officer of the bank. Laraia reduced the commercial loan portfolio and cut costs significantly. Laraia became chairman and chief executive officer of the bank. Shareholders supported the merger after the stock price fell during the early 1990s recession. The purchase price was well below the book value of the bank and the bank initially rejected the bid and adopted a poison pill to prevent the takeover. In 1990, Stanley Stahl, the developer of 277 Park Avenue, acquired the bank for $174 million. Sag Harbor Savings Bank was chartered in 1860 in Sag Harbor, New York to provide financial services for the whaling industry. In 1989, the bank acquired Sag Harbor Savings Bank and its 5 branches for $29.5 million. On December 31, 1986, the bank acquired Eastern Savings Bank, obtaining three branches in the Bronx, two in Westchester and two on Long Island. In 1985, the bank converted from a mutual savings bank to a public company, selling 4.6 million shares for $53.5 million in an initial public offering. To reflect its geographic expansion, the bank changed its name to Apple Bank in May 1983. In the 1970s and early 1980s, the bank continued to expand into the suburbs outside New York City. The acquisition gave the bank an additional seven branches including the Apple Bank Building at 2112 Broadway (between West 73rd and West 74th Streets), a designated historic landmark designed by York and Sawyer in the Palazzo style of Renaissance Revival architecture, as well as two branches in Nassau County on Long Island. Tiemann, then Mayor of New York, as a charter member and operated out of the Cooper Union building before moving to a location at 14th Street and 4th Avenue in 1864. ![]() Created as the German Savings Bank in 1858, Central Savings Bank counted Daniel F. In 1981, in a deal organized by the Federal Deposit Insurance Corporation that included a $160 million grant from the agency, the bank acquired the troubled Central Savings Bank. In 1968, the bank moved its headquarters from Harlem to 42nd Street. In 1966, the bank opened a branch in Manhasset, New York, on Long Island as the population growth shifted to the suburbs. In 1933, the bank dropped the second 'a' from its name to match the now-standard spelling of the neighborhood's name: Harlem. The branches were on 157th Street and 180th Street in Washington Heights, Manhattan. In 1932, just after the Great Depression, the bank acquired Commonwealth Savings Bank and its 2 branches. In 1907, the bank moved its headquarters to 124 E. In 1869, the bank moved to a building of its own construction on 3rd Avenue and 124th Street. Harlem at the time was a suburban village - it was not part of New York City until 1873 - and the bank's first location on 3rd Avenue between 125th and 126th Streets was surrounded by farms and undeveloped lots. ![]() The company was founded in 1863 as the Haarlem Savings Bank by a group of local merchants as a community-based mutual savings bank. Apple Bank for Savings is a savings bank headquartered in Manhasset, New York and operating in the New York metropolitan area.
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