Old Stone Bank was a popular Rhode Island banking institution. It was founded as a mutual savings bank, officially named the Providence Institution for Savings, in 1819.
In the early 1970s the bank adopted as its mascot and "spokesperson" cartoon character Fred Flintstone, who would say in commercials "Yabba-dabba-doo, love that Old Stone Bank!"
The bank's ATMs were called "Ready Freddy".
Old Stone Bank collapsed in the 1980s after the federal government convinced it to take over two failed savings and loan institutions, but reneged on its promise that it would not hurt the bank to do so.
In 1992, Old Stone filed a lawsuit against the government alleging breach of contract. They were awarded $192 million in 2004, but an appeals court reduced the award to 74.5 million, and the Supreme Court declined to hear a further appeal.
Read more about Old Stone Bank: Old Stone Bank Building
Famous quotes containing the words stone and/or bank:
“You yourselves are our letter, written on our hearts, to be known and read by all; and you show that you are a letter of Christ, prepared by us, written not with ink but with the Spirit of the living God, not on tablets of stone but on tablets of human hearts.”
—Bible: New Testament, 2 Corinthians 3:2-3.
“Life is a long Dardenelles, My Dear Madam, the shores whereof are bright with flowers, which we want to pluck, but the bank is too high; & so we float on & on, hoping to come to a landing-place at last—but swoop! we launch into the great sea! Yet the geographers say, even then we must not despair, because across the great sea, however desolate & vacant it may look, lie all Persia & the delicious lands roundabout Damascus.”
—Herman Melville (1819–1891)