Ridgewood Savings Bank facts for kids
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| Mutual savings bank | |
| Industry | Financial services |
| Founded | Ridgewood, New York June 18, 1921 |
| Headquarters |
Ridgewood, New York
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Area served
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New York metropolitan area |
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Key people
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Leonard Stekol, Chairman and CEO |
| $13 million | |
| Total assets | $6.8 billion |
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Number of employees
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580 |
Ridgewood Savings Bank is a special kind of bank. It's the biggest mutual savings bank in New York State. This means it's owned by its customers, not by shareholders. The bank started in 1921. Today, it has 36 locations. You can find these branches all over New York City, Long Island, and Westchester County.
History of Ridgewood Savings Bank
The bank officially began on June 18, 1921. It was first called the Savings Bank of Ridgewood. Fourteen local business people in Ridgewood, Queens wanted to create a bank. They wanted it to help people in their community.
The bank's first office was in a converted taproom. This was at the corner of Myrtle and Forest Avenues. In 1929, they started building a new main office. It was built in the same spot. At this time, the bank's name changed to Ridgewood Savings Bank. The building was designed by Halsey, McCormack and Helmer, Inc.
In 1940, the bank opened its first branch office. This new office was in Forest Hills, Queens. It is located at Queens Boulevard and 108th Street. In 2000, this building was named a New York City Landmark. This means it is an important historical building.
In 2007, another bank called City and Suburban Bank joined Ridgewood Savings. This added 12 more branches to Ridgewood Savings Bank.
Leaders of the Bank
The bank has had several presidents since it started. Here is a list of the people who have led Ridgewood Savings Bank:
- Rudolph Stutzmann, from 1921 to 1946
- Herman Ringe, from 1946 to 1948
- Walter J. Hess, from 1948 to 1971
- William A. McKenna Jr., from 1992 to 2003
- William C. McGarry, from 2004 to 2012
- Peter M. Boger, from 2012 to 2018
- Leonard Stekol, from 2018 to today
