Apple Bank facts for kids
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| private | |
| Industry | Banking |
| Founded | April 17, 1863 as the Haarlem Savings Bank |
| Headquarters | New York City, U.S. |
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Number of locations
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80 branches (2019) |
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Area served
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New York metropolitan area |
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Key people
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Steven C. Bush, Chairman, President and CEO |
| Services | Financial services |
| Revenue |  US$ 340.73 million (2018) |
| US$ 100.9 million (2018) |
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| Total assets | US$ 14.307 billion (2018) |
| Total equity | US$ 1.196 billion (2018) |
| Owner | Trust for the benefit of heirs of Stanley Stahl |
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Number of employees
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1,001 (2018) |
| Parent | Apple Financial Holdings |
Apple Bank for Savings is a bank that helps people save money and get loans. It is based in Manhasset, New York. The bank has many branches across the New York metropolitan area, serving communities in and around New York City.
Contents
History of Apple Bank
Early Days: The 1800s
Apple Bank started a long time ago, in 1863. It was first called the Haarlem Savings Bank. A group of local business people created it to help their community. At that time, Harlem was a small village, not yet part of New York City. The bank's first spot was on 3rd Avenue in a rural area. In 1869, the bank moved into its own building.
Growing in the 1900s
In 1907, the bank moved its main office again. After the Great Depression in 1932, the bank grew by taking over Commonwealth Savings Bank. This added two more branches. In 1933, the bank changed its name to "Harlem Savings Bank" to match the common spelling of the neighborhood.
By 1966, more people were moving to the suburbs. So, the bank opened a new branch in Manhasset, New York, on Long Island. In 1968, the bank moved its main office from Harlem to 42nd Street.
In 1981, the bank took over Central Savings Bank. This deal helped the bank get seven more branches. One of these was the Apple Bank Building on Broadway. This building is a historic landmark with beautiful architecture.
To show it was growing beyond just Harlem, the bank changed its name to Apple Bank in May 1983. In 1985, the bank became a public company. This meant people could buy shares of the bank.
The bank continued to expand. In 1986, it acquired Eastern Savings Bank, adding branches in the Bronx, Westchester, and Long Island. In 1989, it bought Sag Harbor Savings Bank. This bank was founded in 1860 to help the whaling industry.
In 1990, a businessman named Stanley Stahl bought Apple Bank. He helped the bank focus on its main services. After he passed away in 1999, the bank's ownership went to trusts.
Apple Bank Today: The 2000s
In 2013, Apple Bank grew even more by acquiring 29 branches from Emigrant Savings Bank. This made Apple Bank have 77 branches and nearly $13 billion in assets.
The bank kept opening new branches in different areas. In 2015, it opened branches in Jackson Heights and Bay Ridge. It also opened a branch in Monsey, New York.
In 2016, Steven C. Bush became the chairman, president, and CEO of the bank.
Expanding Services
In 2022, Apple Bank started a new group called the Equipment Finance Group. This group helps businesses get loans for important equipment. This helps the bank offer more types of loans and support different industries.
Reaching New Places
In September 2022, Apple Bank opened a new branch in Englewood, New Jersey. This expanded its network to 84 locations. It helps the bank serve more people in New Jersey. Apple Bank has been profitable for 30 years in a row. As of December 2021, the bank had $16.1 billion in assets.
See also
In Spanish: Apple Bank for Savings para niños
