History
The bank traces its history to 1892, when B. Francis Saul founded the B.F. Saul Company, a mortgage and real estate firm. On October 11, 1955, a savings and loan charter was granted to some Baltimore-area businessmen but never used. In 1969, the charter was purchased and the Chevy Chase Savings And Loan Association was established, taking the name from Chevy Chase, Maryland. Saul's grandson, B. Francis Saul II, opened the S&L on December 1, 1969, 50 years to the day after his grandfather, B. F. Saul opened Home Savings and Loan (subsequently merged into American Security Bank - now part of Bank of America). It became an FDIC-insured federal savings bank in 1985 and changed its name to Chevy Chase Savings Bank, F.S.B. accordingly the following year. It acquired the Standard Savings and Loan Association of Grundy, Virginia, in 1988.
It adopted its most recent name in 1994 and on January 16, 1996, moved its registration from Chevy Chase to McLean. It moved into its actual headquarters in Bethesda in 2001.
In 1995 it acquired the historic Alex. Brown & Sons Building in Baltimore, Maryland, which was renovated the following year and used for a branch office.
On December 4, 2008, Capital One announced it would be acquiring Chevy Chase Bank. The acquisition was completed on February 27, 2009. On Friday, September 10, 2010 at 7pm, Chevy Chase Bank shed its name, opening its doors on Monday, September 13, 2010 as Capital One Bank.
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