Chemical Bank

This article deals with the Chemical Bank from New York, for the bank of the same name from Michigan see Chemical Financial Corporation .

Chemical Bank
Country	United States
Seat	New York City , New York
legal form	Corporation
founding	1824
resolution	1996

The Chemical Bank was one of the largest banks in the United States and forms the core of today's JPMorgan Chase . The Chemical Bank was founded in 1824 as a subsidiary of the New York Chemical Manufacturing Company , which was founded in 1823 , a company in the chemical industry for the manufacture of basic chemicals , paints and pharmaceutical products. The manufacturing operation was stopped in 1844 and the company continued as a pure bank. Over the course of the next century, the money house grew into one of the most important institutions in America and built a reputation for a solid company that survived all the financial and banking crises of its time. During this period, Chemical acquired the Citizens National Bank (1920), the Corn Exchange Bank (1954) and the Texas Commerce Bank (1986). In 1968 there was a reorganization, as a result of which the Chemical Bank was incorporated under the bank holding Chemical New York Corporation . In the late 1960s and 1970s, the bank expanded its international business, including opening a branch in Frankfurt / Main in 1969. In the same year Chemical had the first American ATM installed in the New York area. In 1991, Chemical took over Manufacturers Hanover Corporation . The two companies were the sixth and ninth largest banks in the United States by deposit at the time. The takeover created the second largest bank after Citicorp . The history of the Chemical company name finally ended in 1996 with the acquisition of Chase Manhattan Bank . Although Chemical was the acquiring company, the merged institute adapted the Chase name, which was better known outside of the United States. This created the largest credit institution in North America. In 2001, the new Chase Bank incorporated JP Morgan & Co and henceforth formed part of the major JPMorgan Chase bank .

Chemical Bank mergers and acquisitions between 1824 and 2001
Companies	1820s		1830s	1840s	1850s	1860s		1870s	1880s	1890s		1900s		1910s	1920s	1930s	1940s	1950s		1960s	1970s	1980s		1990s		2000s
Chemical Bank		Chemical Bank																							Chase	JPMorgan Chase
Citizens National Bank					Citizens National Bank
Corn Exchange Bank					Corn Exchange Bank
Texas Commerce Bank							Texas Commerce Bank
Hanover Bank								Hanover Bank												Manufacturers Hanover
Manufacturers Trust Company													Manufacturers Trust Company
Chase Manhattan Bank																			Chase Manhattan Bank
Drexel, Morgan & Co.								Drexel, Morgan & Co.			JP Morgan & Co.

Web links

Commons : Chemical Bank  - Collection of pictures, videos and audio files

Individual evidence

1. ↑ JPMorgan Chase & Co: History of JPMorgan Chase & Co (English), accessed on August 1, 2018
2. ↑ Encyclopædia Britannica : Chemical Banking Corporation , accessed August 1, 2018
3. ↑ NY Times : BANKING GIANT'S NEW: THE DEAL; CHASE AND CHEMICAL AGREE TO MERGE IN $ 10 BILLION DEAL CREATING LARGEST US BANK , accessed August 1, 2018