Absorbing The Central Savings Bank
The early 1980s proved to be a difficult time for financial institutions, but Harlem Savings fared better than most. In 1981 it used a $160 million grant from the FDIC to purchase the troubled Central Savings Bank. Created as the German Savings Bank (it was renamed Central Savings Bank during World War I) in 1858, the bank counted Daniel F. 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. The acquisition gave Haarlem Savings an additional seven branches including the 1928 Apple Bank Building (formerly Central's uptown branch) at 2112 Broadway between 73rd and 74th Streets, a designated historic landmark designed by the architectural firm York and Sawyer in Renaissance Palazzo style, as well as two branches in Nassau County on Long Island.
It was added to the National Register of Historic Places in 1983.
Read more about this topic: Apple Bank For Savings
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