Mechanics and Metals National Bank
The Mechanics and Metals National Bank (MMNB) was a bank in New York City, founded in 1810 as the Mechanics National Bank. In 1910 it merged with National Copper Bank and took the Mechanics and Metals National Bank name. After a number of mergers and acquisitions, in 1926 MMNB consolidated with the Chase National Bank.
Wall Street office, Ca 1890
|Fate||Consolidated with Chase National Bank in 1926|
|Founded||1810 (as Mechanics National Bank)|
1910 (as Mechanics and Metals National Bank)
|Gates W. McGarrah|
Mechanics National Bank was founded in 1810 in New York City. In 1910 it merged with National Copper Bank (est. 1907 in New York), and took the Mechanics and Metals National Bank name. In 1911, a new and unrelated bank with the name, National Copper Bank, was founded in Salt Lake City.
After approval from the Controller of the Currency the day before, on June 21, 1920, Mechanics and Metals and the Produce Exchange Union were merged. With branches in Manhattan and a main office at 20 Nassau Street, the new consolidated institution was named Mechanics and Metals National Bank. Combined capital, surplus, and profits of the new bank were approximated at $25,000,000, with deposits exceeding $200,000,000. Stockholders elected directors from both former institutions, including John E. Berwind of the Berwind-White Coal Mining Company, William H. Childs of the Barrett Company, Walter C. Hubbard of Hubbard Bros. and Co, Ambrose G. Todd of Reeves and Todd, and Gates W. McGarrah. McGarrah was also named president of the Mechanics and Metals National Bank, after several years as president of the New York Produce Exchange National Bank.
- "Bank Merger is Approved; Mechanics and Metals and Produce Exchange Union Effective Today". The New York Times. New York City. June 21, 1920. Retrieved February 27, 2017.
- Staff (March 9, 1921). "National City Bank Buys a State Bank". The New York Times. p. 24. Retrieved February 18, 2017.