{"id":2925,"date":"2024-02-01T09:43:04","date_gmt":"2024-02-01T14:43:04","guid":{"rendered":"https:\/\/brooklyn1.one\/?p=2925"},"modified":"2024-02-01T09:43:06","modified_gmt":"2024-02-01T14:43:06","slug":"the-dime-savings-bank-of-brooklyn-one-of-brooklyns-greatest-banks","status":"publish","type":"post","link":"https:\/\/brooklyn1.one\/en\/eternal\/the-dime-savings-bank-of-brooklyn-one-of-brooklyns-greatest-banks-2925","title":{"rendered":"The Dime Savings Bank of Brooklyn – one of Brooklyn’s greatest banks"},"content":{"rendered":"\n

The main office of the Dime Savings Bank was built in 1906-1908. It was significantly expanded and modernized a quarter century later. The bank\u2019s building is one of the most prominent examples of commercial architecture in Brooklyn. Since its founding in 1859, the bank has had its permanent headquarters in the city center and then in the borough. When the institution got its current site, they entrusted Mowbray & Uffinger to design a capital building. Read more about it at brooklyn1.one<\/a>. <\/p>\n\n\n\n

Temple shaped bank<\/h2>\n\n\n\n

The Dime Bank, or Union Dime Savings Bank, was constructed in 1906 and 1908 and designed in the form of a temple, which was adapted to its construction location. Later, in 1931-1932, it underwent a big transformation and expansion. Overall, the building became a great example of neoclassical architecture. The marble exterior is complemented by majestic Ionic columns, a high dome and decorations that accurately depict <\/strong>industry and progress. Halsey, McCormack & Helmer were engaged in the development of these changes.<\/p>\n\n\n\n

The Dime Savings Bank of New York, originally The Dime Savings Bank of Brooklyn, had its headquarters in Brooklyn, NY. It functioned from 1859 to 2002. The bank’s main office was previously located at 9 DeKalb Avenue. In 2002, Dime was acquired by Washington Mutual. The latter collapsed in 2008 and was bought out by JPMorgan Chase, which now owns all of Dime’s former assets.<\/p>\n\n\n\n

In July 1994, Dime Bancorp announced its plans to acquire Anchor Bancorp In Hewlett and its affiliated company Anchor Savings Bank. The transaction was made in January 1995 for $1.2 billion. As a result, a new company appeared with 76 branches in New York, 18 in New Jersey and 5 in Florida.<\/p>\n\n\n\n

Luxurious architecture<\/h2>\n\n\n\n

The merger of Hudson United Bancorp and Dime Bancorp was announced in September 1999. Their stock was valued at $2 billion. However, before this happened, North Fork Bancorporation attempted to take over Dime in a hostile manner in March 2000. As the latter was busy dealing with North Fork, Dime and Hudson United decided to end their merger agreement in April. North Fork eventually abandoned their demand in September 2000. In June 2001, Washington Mutual stated that they were going to buy Dime Bancorp for $5.2 billion in cash and shares. The acquisition was made in January 2002. At the time, Dime had 123 branches in the states of New York and New Jersey. Later in 2008, Washington Mutual went bankrupt. After Washington Mutual was taken over, the FDIC sold assets that included Dime to JPMorgan Chase.<\/p>\n\n\n\n

In any case, The Dime Savings Bank of Brooklyn<\/a> is one of the greatest banks in Brooklyn at 9 Dekalb Avenue. The 1908 building, which is now a Chase bank, still has its original opulent foyer with monolithic columns of red marble that surround the main hall. The bronze doors in the hall depict the bank relief in front of the Brooklyn Bridge and the god of trade, Mercury. Ionic columns adorn and add majesty, while the pediment is decorated with sculptured men symbolizing agriculture and industry.<\/p>\n\n\n\n

The bank symbol is Mercury<\/h2>\n\n\n\n

The building was designed by Mowbray & Uffinger. This firm created many majestic banks in NY in the early 1900s. By the way, the image of Mercury, which was the symbol of the bank, can be seen throughout the building.<\/p>\n\n\n\n

Savings banks were once intended to help workers save money through regular deposits. The first savings bank was sponsored by the Society for the Prevention of Pauperism. The Dime Savings Bank was founded in 1859, at the dawn of this movement. Some of its buildings are still standing there, including the one at 1101 Avenue J, which is now a branch of Chase bank.<\/p>\n\n\n\n

Most Brooklyn residents noticed that the incredibly glamorous building at the corner of Atlantic Avenue and Court Street is now home to a Trader Joe’s. You should also pay attention to the details that can be easily missed. The former headquarters of Independence Savings Bank, known until 1975 as South Brooklyn Savings Bank, still retains its symbols of thrift, such as squirrels holding a pot filled with corn for <\/strong>birds soaring above. There is also a memorial plaque to G. Washington on the facade in honor of the Battle in Brooklyn in 1776.<\/p>\n\n\n\n

It should be noted that the bank was expanded in 1931 and 1932 by architects Halsey, McCormack&Helmer who are considered experts in bank buildings. Nowadays, the headquarters is a New York landmark. In December 2015, developers Michael Stern and Joe Chetrit purchased The Dime Savings Bank\u2019s main office for $90 million. They intended to add the structure to the Brooklyn Tower. Construction of the tower superstructure began in 2018 and was completed in 2022. It became the tallest building in Brooklyn and outside of Manhattan.<\/p>\n","protected":false},"excerpt":{"rendered":"

The main office of the Dime Savings Bank was built in 1906-1908. It was significantly expanded and modernized a quarter century later. The bank\u2019s building is one of the most prominent examples of commercial architecture in Brooklyn. Since its founding in 1859, the bank has had its permanent headquarters in the city center and then […]<\/p>\n","protected":false},"author":329,"featured_media":2133,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[1164],"tags":[2123,2121,2120,2122,2126,2125,2118,2117,2124,2119],"motype":[1158],"moformat":[83],"moimportance":[78,81],"class_list":{"0":"post-2925","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-had-its-headquarters-in-brooklyn","9":"tag-halsey","10":"tag-it-underwent-a-big-transformation-and-expansion-overall","11":"tag-mccormack-helmer-were-engaged-in-the-development-of-these-changes","12":"tag-ny","13":"tag-originally-the-dime-savings-bank-of-brooklyn","14":"tag-temple-shaped-bank","15":"tag-the-dime-savings-bank-of-brooklyn-one-of-brooklyns-greatest-banks","16":"tag-the-dime-savings-bank-of-new-york","17":"tag-the-main-office-of-the-dime-savings-bank-was-built-in-1906-1908-it-w","18":"motype-eternal","19":"moformat-vlasna","20":"moimportance-golovna-novina","21":"moimportance-retranslyacziya-v-agregatori"},"modified_by":"Inna Hananova","_links":{"self":[{"href":"https:\/\/brooklyn1.one\/en\/wp-json\/wp\/v2\/posts\/2925","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/brooklyn1.one\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/brooklyn1.one\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/brooklyn1.one\/en\/wp-json\/wp\/v2\/users\/329"}],"replies":[{"embeddable":true,"href":"https:\/\/brooklyn1.one\/en\/wp-json\/wp\/v2\/comments?post=2925"}],"version-history":[{"count":1,"href":"https:\/\/brooklyn1.one\/en\/wp-json\/wp\/v2\/posts\/2925\/revisions"}],"predecessor-version":[{"id":2926,"href":"https:\/\/brooklyn1.one\/en\/wp-json\/wp\/v2\/posts\/2925\/revisions\/2926"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/brooklyn1.one\/en\/wp-json\/wp\/v2\/media\/2133"}],"wp:attachment":[{"href":"https:\/\/brooklyn1.one\/en\/wp-json\/wp\/v2\/media?parent=2925"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/brooklyn1.one\/en\/wp-json\/wp\/v2\/categories?post=2925"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/brooklyn1.one\/en\/wp-json\/wp\/v2\/tags?post=2925"},{"taxonomy":"motype","embeddable":true,"href":"https:\/\/brooklyn1.one\/en\/wp-json\/wp\/v2\/motype?post=2925"},{"taxonomy":"moformat","embeddable":true,"href":"https:\/\/brooklyn1.one\/en\/wp-json\/wp\/v2\/moformat?post=2925"},{"taxonomy":"moimportance","embeddable":true,"href":"https:\/\/brooklyn1.one\/en\/wp-json\/wp\/v2\/moimportance?post=2925"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}