{{Short description|Former American Bank based in Cleveland, Ohio}} {{distinguish|AmTrust Financial Services}} {{Infobox company | name = AmTrust Bank | image = OSPCLE.jpg | image_caption = The Ohio Savings Plaza building, the bank’s headquarters in Cleveland, Ohio, from 1977 until 2009 when the company closed. | type = Private | industry = Banking | founded = {{start date and age|1889}} | defunct = {{end date and age|2009|12|04}} | fate = Bank failure; assets acquired by New York Community Bank | successor = New York Community Bank (now Flagstar Bank) | hq_location_city = Cleveland, Ohio | hq_location_country = United States }} '''AmTrust Bank''' was a bank based in Cleveland, Ohio. The company was founded in 1889 and was closed in December 2009.
==History== The bank was founded in 1889 as Ohio Savings, Loan & Building Co.<ref name="history">{{cite news |last=Dixon Murray |first=Teresa |date=December 5, 2009 |title=A history of AmTrust Bank |url=http://blog.cleveland.com/pdextra/2009/12/a_history_of_amtrust_bank.html |work=Cleveland Plain Dealer}}</ref>
In 1963, Leo Goldberg acquired control of the company.<ref name=history/>
In 1975, the bank acquired Citizens Federal Savings & Loan of Akron.<ref name=history/> In 1978, the bank acquired Shaker Savings.<ref name="history" /> In 1989, the bank acquired Palm Plaza Savings Association, based in Boca Raton, Florida.<ref>{{cite web |title=Institution History for AMTRUST BANK, F.S.B. (52876) |url=https://www.ffiec.gov/nicpubweb/nicweb/InstitutionHistory.aspx?parID_RSSD=52876&parDT_END=19950331 |website=Federal Financial Institutions Examination Council}}</ref>
In 2000, the bank opened its first branches in Phoenix, Arizona.<ref name="history" /> In 2007, the bank changed its name to Amtrust Bank.<ref>{{cite news |last=Dixon Murray |first=Teresa |date=April 19, 2007 |title=Ohio Savings Bank changing its name to AmTrust |url=http://blog.cleveland.com/pdextra/2007/04/ohio_savings_bank_changing_its.html |work=Cleveland Plain Dealer}}</ref> In January 2009, the bank sold its 5 branches in Columbus, Ohio, to WesBanco.<ref>{{cite news |last=Dixon Murray |first=Teresa |date=January 23, 2009 |title=AmTrust sells Columbus branches |url=http://blog.cleveland.com/business/2009/01/amtrust_sells_columbus_branche.html |work=Cleveland Plain Dealer}}</ref>
On December 1, 2009, AmTrust Financial Corp., the parent company of AmTrust Bank, filed for Chapter 11 bankruptcy protection.<ref>{{Cite web|url= https://www.wsj.com/articles/DJFDBR0020091201e5c10008e?gaa_at=eafs&gaa_n=AWEtsqcemHNXk2PFL2zbK9mDRYJwymracsXHY4nga_KEMozbYmmNHTwwScGQq14GCA%3D%3D&gaa_ts=69c83ea6&gaa_sig=t4Vty560XENOh33GBIxIWg2RXkGUUi8PCQPHu6w-pX0GIZ14MCjDFzNPdyIONaxBrO7EgpD7wVRnP1Ny5xMYMw%3D%3D|title= AmTrust Bank Parent Company Files For Chapter 11 Protection|first=Patrick|last=Fitzgerald|date=2009-12-01|access-date=2026-03-28|website=The Wall Street Journal|language=en}}</ref> On December 4, 2009, as a result of bank failure, the bank was shut down by the Office of Thrift Supervision. It was placed into receivership and the Federal Deposit Insurance Corporation was named receiver. The assets of the bank were sold to New York Community Bank.<ref name="failed">{{cite web |title=FDIC Failed Bank Information: AmTrust Bank, Cleveland, OH |url=https://www.fdic.gov/bank/individual/failed/amtrust.html |website=Federal Deposit Insurance Corporation}}</ref><ref>{{cite news |last=Dixon Murray |first=Teresa |date=December 4, 2009 |title=AmTrust Bank fails, bought by New York bank |url=http://www.cleveland.com/business/index.ssf/2009/12/amtrust_bank_fails_bought_by_n.html |work=Cleveland Plain Dealer}}</ref> NYCB changed the name of the acquired Ohio branches back to Ohio Savings Bank.<ref>{{cite news |last=Kass |first=Arielle |date=January 8, 2010 |title=Ohio Savings name to return to AmTrust Bank branches in Ohio |url=http://www.crainscleveland.com/article/20100108/FREE/100109868/ohio-savings-name-to-return-to-amtrust-bank-branches-in-ohio |work=Crain's Cleveland Business |publisher=Crain Communications}}</ref>
==References== {{Portal|Banks}} {{Reflist|1}}
Category:Bank failures in the United States Category:Banks established in 1889 Category:Banks disestablished in 2009 Category:Defunct banks of the United States Category:Defunct companies based in Cleveland Category:1889 establishments in Ohio Category:2009 disestablishments in Ohio Category:Companies that filed for Chapter 11 bankruptcy in 2009