Schmidtbank

from Wikipedia, the free encyclopedia
Schmidtbank

logo
legal form KGaA
founding February 29, 1828
resolution March 6, 2005
Reason for dissolution Commerzbank takes over customer business after economic difficulties
Seat court
management Karl Gerhard Schmidt
Number of employees 2000
Branch Credit institution
Website www.schmidtbank.de
(December 29, 1996) ( Memento from December 29, 1996 in the Internet Archive )

The Schmidt Bank was a private German regional bank in northern Bavaria , Saxony and Thuringia . It was founded in 1828 and existed until 2005. The bank code of the institute was 78030070, the SWIFT address KSBHDE77.

history

The company was founded in 1828 in Wunsiedel in the Fichtelgebirge by Christian Karl Matthäus Schmidt. When the commercial register was introduced in Bavaria, the company name (company ) was noted as Karl Schmidt Banking ( KSB ). Until 2001, the company was owned by the Schmidt family. Until 2001, banker Karl Gerhard Schmidt had a decisive influence on the bank. In addition to the Schmidt family, another Franconian entrepreneurial family was significantly involved in the company: The Schmidt Bank had to be rescued for the first time at the end of the 19th century, this was done by Theodor Kispert, whose heirs had a decisive influence on the bank’s upturn until 1989.

first branch on Bahnhofstrasse in Hof

The headquarters of the private bank was moved from Wunsiedel to Hof around 1900 . There was also a branch of the Reichsbank in Hof . This resulted in simplifications in business operations.

The catchment areas were initially Fichtelgebirge , Franconian Forest , Upper Palatinate Forest , Bavarian Forest and the cities of Hof , Marktredwitz , Weiden , Schwandorf , Cham , Bayreuth and, after World War II , Nuremberg .

KSB also steadily expanded its branch network by taking over private banks such as the Nuremberg bank Walk & Grün (1958) and the Hagenbauer bank (1964). In 1967 the banking business Fidel Schub in Viechtach was taken over.

SchmidtBank was also involved in Kupfer-Bank KG in Nuremberg with branches in Ansbach and Roth . This bank was finally merged with SchmidtBank in 1977.

After the fall of the Wall in Germany in 1989, SchmidtBank opened branches in Saxony and Thuringia . A dense network of branches was established in the 1990s, especially in the Vogtland and Ore Mountains as well as in the cities of Chemnitz and Zwickau . New branches were established in Bamberg and Leipzig in 2000 and 2001, and platforms for a new market presence were created in Dresden with the purchase of the Weberbank there. The expansion had originally aimed to concentrate exclusively on lucrative and low-risk investment business with wealthy customers.

In total, the bank had over 125 branches. In the mid-1990s, SchmidtBank began to develop new business areas. Branches abroad were opened ( Luxembourg , Czech Republic , Switzerland ), the product portfolio was expanded to include all-finance support (fund management, real estate service, insurance broker, leasing). SchmidtBank founded the direct bank Consors and offered administration and IT services for other banks.

SchmidtBank did not only do pure banking, which also included the support of small and medium-sized companies. The bank also sponsored sporting events and promoted culture.

Downfall

From the end of the 1990s onwards, SchmidtBank faced considerable economic difficulties and was taken over by a rescue company Medusa in 2001 . This rescue company included the major German banks ( Dresdner Bank , Deutsche Bank , HypoVereinsbank and Commerzbank ) and the Bayerische Landesbank . Medusa took over SchmidtBank in a rescue operation and thus prevented a moratorium . The major banks held 79% and the Bayerische Landesbank 21%.

Paul Wieandt was appointed as managing director . SchmidtBank GmbH & Co. KGaA was finally converted into a GmbH (Resba GmbH, AG Hof HRB 3697). Many companies in the SchmidtBank Group were sold - including Consors - and some of the branches were closed. Paul Wieandt managed the break-up of SchmidtBank until his death in 2007.

Commerzbank

In 2004 the remaining branches and the name "SchmidtBank" were taken over by Commerzbank . Since March 2005 the former branches of SchmidtBank have continued to operate as “Commerzbank” branches. The name "SchmidtBank" is no longer used. The company was present on the market for 177 years.

Delmora Bank / Archon Capital Bank Germany

The bank's problem loans were spun off into Delmora Bank GmbH. Delmora Bank has also taken on problem loans from other banks. At the Delbrück bank in Cologne, a moratorium was averted by selling bad loans to Delmora Bank .

In 2005 a subsidiary of the investment bank Goldman Sachs took over Delmora Bank. Goldman Sachs sees problem loan processing as a lucrative business area. From April 2007 Delmora Bank GmbH will be run as Archon Capital Bank Germany. Archon is a subsidiary of Goldman Sachs.

Resba

The Schmidt Bank headquarters with the real estate sector was in Resba GmbH (abbreviation for Res t ba nk) renamed. In October 2005 Resba GmbH moved its headquarters from the representative SchmidtBank headquarters in Hofer Ernst-Reuter-Strasse to the former branch in Hof-Bahnhofstrasse. The new SchmidtBank headquarters from 2003 has meanwhile been sold to the Free State of Bavaria . The Hof office of the Bavarian State Office for the Environment has been housed in the building since March 2006 .

Legal proceedings

Starting in October 2006, a process before the Hof Regional Court was clarified as to whether there were any criminally relevant incidents with the decline of SchmidtBank. The defense pointed to the interests of the big banks in cleaning up and consolidating the German banking market. The smashing of SchmidtBank would have been conducive to this goal. On August 22, 2007, the court acquitted Karl Gerhard Schmidt of the charge of fraud to the detriment of SchmidtBank customers. One case of breach of trust to the detriment of SchmidtBank was classified as relevant under criminal law. The sentence was one year imprisonment , suspended on probation , plus a fine. Then, one after the other, Karl Gerhard Schmidt and the public prosecutor applied for an appeal to the Federal Court of Justice in Karlsruhe. Both sides later withdrew the application.

swell

  1. ^ Bavarian Academy of Sciences Historical Commission: New German Biography . Duncker & Humblot, 1953 ( google.de [accessed December 3, 2018]).
  2. ↑ Gerhard Müller, Josef Löffelholz: Bank-Lexikon: Concise dictionary for banking and savings banks . Springer-Verlag, 2013, ISBN 978-3-663-00090-7 ( google.de [accessed on December 3, 2018]).
  3. ↑ http://www.frankenpost.de/nachrichten/regional/bayerntitelseite/art2445,700069
  4. ↑ http://www.frankenpost.de/nachrichten/regional/ofrbay/art2389,704597
  5. ↑ http://www.frankenpost.de/nachrichten/regional/bayerntitelseite/art2445,775739

Web links

Commons : SchmidtBank  - collection of images, videos and audio files