Park Row Trust Company facts for kids

Park Row Trust Company was a bank located in New York City. It began to be set up in January 1930 and opened its doors for business on March 1, 1930. The bank was located at 154 Nassau Street (Manhattan).

This was the same building where another bank, called Clarke Brothers Bank, used to be. Clarke Brothers Bank had faced serious financial problems and closed down in June 1929. Park Row Trust Company started with a lot of money, about $500,000. It also had an extra $250,000 for unexpected needs and $50,000 to help cover the costs of setting up the bank. The people who helped start and run Park Row Trust Company were also leaders from another bank, the Plaza Trust Company.

Becoming a Bigger Bank

Just a few months after opening, on July 8, 1930, Park Row Trust Company joined together with two other banks. These banks were Plaza Trust Company and Broadway National Bank & Trust Company. When they all came together, the new, bigger bank was named Broadway & Plaza Trust Company. This new company had even more money, with about $1,350,000 in starting funds and an extra $1,800,000 for emergencies.