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for $ 38.6 million, which required the passage of a special statute that allowed the
Pennsylvania-based Girard Bank to acquire a Delaware bank. Girard Bank was acquired by
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137:. The bank was established to provide banking and credit services to farmers in Kent and Sussex Counties, ending the 12 years of monopoly in banking services held by the
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passed legislation allowing the
Farmers' Bank to incorporate and issue $ 500,000 of capital, via 10,000 shares at $ 50 each. The bank was incorporated by
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In 1976, the state of
Delaware increased its ownership from 49% to 80% after the bank lost $ 20.8 million in 1975 and the
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171:(FDIC) noted that it would cost more to liquidate the bank than to inject capital. As part of the deal between Governor
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109:. For most of its existence, the bank was 49% owned by the state government, although it was privately managed.
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and the FDIC, the state of
Delaware agreed to keep all its deposits in the bank.
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In 1899, the branch in New Castle was closed after the city went into decline.
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In 1837, the bank was selected as the depository for the federal surplus.
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A supplementary charter on
January 22, 1813, added a fourth branch in
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Pivotal
Policies in Delaware: From Desegregation to Deregulation
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97:. It operated from 1807 until 1981, when it was on the verge of
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In
February 1976, the bank held merger talks with Girard Bank.
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selected the bank as a local depository for federal revenues.
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George
Richardson (January 3, 1878, to at least 1888)
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On
December 20, 1981, when the bank was on the verge
431:"Institution History for GREENVILLE OFFICE (792716)"
236:
Francis Barry (January 7, 1868, to
January 8, 1878)
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435:Federal Financial Institutions Examination Council
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332:"FARMERS BANK TALKS MERGER WITH GIRARD"
301:"Farmers Bank of the State of Delaware"
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202:Among the presidents of the bank were:
399:Boyer, William W. (November 5, 2013).
363:DANFORTH, A. EDWARDS (July 24, 1977).
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215:(October 22, 1831, to January 7, 1836)
344:from the original on February 9, 2018
233:(April 6, 1866, to December 12, 1868)
221:(January 7, 1836, to January 5, 1843)
169:Federal Deposit Insurance Corporation
7:
377:from the original on January 9, 2018
270:from the original on January 9, 2018
227:(January 5, 1843, to March 31, 1865)
480:Defunct banks of the United States
14:
93:was the second bank chartered by
256:Gilbride, Neil (June 26, 1983).
190:in 1984 and was sold in 2001 to
153:Second Bank of the United States
105:. At that time, the bank had 28
465:1807 establishments in Delaware
441:from the original on 2018-01-09
313:from the original on 2018-01-09
1:
365:"When a State Rescues a Bank"
37:; 217 years ago
55:; 43 years ago
496:
470:Banks established in 1807
139:National Bank of Delaware
119:Delaware General Assembly
117:On February 4, 1807, the
91:Farmers' Bank of Delaware
17:Farmers' Bank of Delaware
407:Rowman & Littlefield
192:Citizens Financial Group
182:, it was acquired by
340:. February 5, 1976.
101:and was acquired by
263:The Washington Post
219:James A. Bayard Jr.
173:Sherman W. Tribbitt
129:, with branches in
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370:The New York Times
337:The New York Times
231:Charles I. du Pont
198:Management history
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123:Henry M. Ridgely
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258:"BANKING HAVEN"
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83:Dover, Delaware
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151:In 1816, the
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443:. Retrieved
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379:. Retrieved
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315:. Retrieved
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272:. Retrieved
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180:bank failure
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99:bank failure
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79:Headquarters
71:Acquired by
381:January 29,
348:January 29,
188:Mellon Bank
184:Girard Bank
103:Girard Bank
73:Girard Bank
459:Categories
445:2018-01-09
317:2018-01-09
274:January 9,
244:References
146:Wilmington
135:Georgetown
131:New Castle
439:Archived
375:Archived
342:Archived
311:Archived
268:Archived
107:branches
95:Delaware
22:Industry
209:(1807-)
113:History
58: (
50:Defunct
40: (
32:Founded
26:Banking
413:
127:Dover
411:ISBN
383:2018
350:2018
306:SNAC
276:2018
133:and
68:Fate
60:1981
53:1981
42:1807
35:1807
125:in
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Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.