Collection Full View
National Newark and Essex Bank Company Collection (1929 - 1982)
RepositoryNew Jersey Historical Society
Collection IDMG 1579
Size5 folders
Collection Description
The Newark Banking and Insurance Company was chartered by the State of New Jersey on February 18, 1804, began raising capital by subscription in April, and elected a Board of Directors at a meeting of the stockholders on May 4, 1804. The bank opened for business on July 30, 1804, occupying rented rooms "in the dwelling of Smith Burnet." In May 1805 the bank moved to its own building at the corner of Broad Street and Maiden Lane, now Bank Street. This building served as headquarters for the firm until 1856.
The company dropped the insurance business in 1829 and, upon renewing its charter in the 1850s, changed its name to the Newark Banking Company. In 1865 the bank, reorganized as a national banking association, became the National Newark Banking Company.
Early in the twentieth century the bank consolidated with the Essex County Banking Company, and throughout the 1950s the bank continued to transform itself through a series of mergers and acquisitions of local banks. In 1962 the bank became the National Newark and Essex Bank. By the late 1960s, the New Jersey Legislature approved new laws that altered the ways banks could do business. National Newark and Essex Bank took advantage of the new laws and became a part of Midlantic Bank, Inc., a holding company. Through the 1970s the Midlantic Bank continued to acquire additional banks, and by the end of the decade it was ranked as one of the top seventy banking institutions for its size in the United States.
The company dropped the insurance business in 1829 and, upon renewing its charter in the 1850s, changed its name to the Newark Banking Company. In 1865 the bank, reorganized as a national banking association, became the National Newark Banking Company.
Early in the twentieth century the bank consolidated with the Essex County Banking Company, and throughout the 1950s the bank continued to transform itself through a series of mergers and acquisitions of local banks. In 1962 the bank became the National Newark and Essex Bank. By the late 1960s, the New Jersey Legislature approved new laws that altered the ways banks could do business. National Newark and Essex Bank took advantage of the new laws and became a part of Midlantic Bank, Inc., a holding company. Through the 1970s the Midlantic Bank continued to acquire additional banks, and by the end of the decade it was ranked as one of the top seventy banking institutions for its size in the United States.
Collection Contents
The collection consists primarily of printed materials relating to the history of the company, including commemorative anniversary pamphlets, an annual report, a directory, and brochures. It also contains clippings and a reprint featuring articles about the United States Savings Bank and the history of Newark, as well as engravings of the bank's early leaders: Silas Condit, John Taylor, and Charles G. Rockwood.
FormatsGraphics; Photographic materials; Textual materials
SubjectsBusiness / Commerce; Finance / Taxation
Time Period20th Century
LanguageEnglish
Access policyOpen for research
ProcessedYes
Finding AidYes