{{Infobox company | name = Long Island Bank | industry = Banking | founded = {{start date and age|April 1, 1824}} | location = Brooklyn, New York }}{{Expand section|date=February 2020}} The '''Long Island Bank''' was the first bank in Brooklyn, New York.{{Citation needed|date=December 2023}}

==History== {{Needs expansion|date=December 2023}} In the early 1820s, Brooklyn was the 16th largest inhabited place in the United States{{Citation needed|date=December 2023}}; however, Brooklyn had no bank and no insurance company.

In 1824, the bank was incorporated and became the first bank in Brooklyn.{{Citation needed|date=December 2023}} The initial capital of the bank was $300,000 in $50 shares. Bank notes were issued from 3 August 1824.<ref name="Long">{{cite book | title=A History of Long Island: From Its Earliest Settlement to the Present Time | url=https://archive.org/details/historyoflongisl01ross | year=1902 | publisher=Lewis publishing Company | first=Peter | last=Ross | pages=[https://archive.org/details/historyoflongisl01ross/page/401 401]}}</ref><ref name="Stiles">{{cite book | last=Stiles | first=Henry R. | title=A History of the City of Brooklyn, Including the Old Town and Village of Brooklyn, the Town of Bushwick, and the Village and City of Williamsburgh. Volume II | url=https://archive.org/stream/historyofcityofb02stil#page/n229/mode/2up |date=1869 | isbn=978-0-7884-4164-6 | pages=211–4| publisher=Heritage Books }}</ref> Its offices were at 7 Front Street in Brooklyn. The first President was Leffert Lefferts.<ref name="Long" />

In 1867, William S. Herriman, president of the bank, died and was replaced by William C. Fowler.<ref>{{cite book | title=The Bankers' Magazine and Statistical Register | url=https://books.google.com/books?id=N3w4AQAAMAAJ&pg=PA638 | volume=21 | page=638 | year=1867}}</ref>

In 1877 Judge Landon of Schenectedy instructed the Long Island Savings Bank trustees to wind up the affairs of the bank, with payments to start December 14, 1877.<ref>{{cite news | title=The Brooklyn Daily Eagle | url=https://nyshistoricnewspapers.org/?a=d&d=tbd18771116-01.1.4 | volume=38 | issue=318 | date=1877-11-16 | page=4 | via=NYS Historic Newspapers |access-date=2024-05-13 |ref=none}}</ref>

==References== {{Reflist|1}}

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Category:Banks based in New York (state) Category:Banks established in 1824 Category:History of Brooklyn Category:1824 establishments in New York (state) Category:American companies established in 1824

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