The Bank with the Gold Dome - Utica
This is a shot of a Utica landmark, the former, gold domed Savings Bank of Utica, now run by M&T. A little bit of very early history: It begins with John C. Devereux who left Ireland and arrived in the just named village of Utica in 1802 and opened a general store. In 1806, his younger brother Nicholas joined him. At the time, Utica was at the center of Mohawk River trade and an important transportation point for pioneers moving westward. The brothers built a new brick store on the west side of Bagg's Square in 1814 which was comparatively fireproof and its strongbox was safe against ordinary theft. They soon began accepting cash, not only for safekeeping but for long term saving and they also began investing their depositors' savings and paying them dividends. This was the informal beginning of the Savings Bank of Utica which occurred two years before the formal opening of the county's first bank. It was said to be among the first savings banks in the U.S. After the first section of the Erie Canal was opened from Utica to Rome in 1819 trade flourished and the safekeeping of the workers money became very important. In 1821 they considered it would be wise to open a formal bank and applied for a charter. The charter was for a bank to be owned by the depositors and managed by a board of trustees. In 1937 the first of the great financial pancis swept the country but the Savings Bank of Utica was able to remain intact. In 1839 a second charter was applied for and the bank was then located in the offices of Nicholas Devereux on Bleecker Street. About 1852 a new bank was opened at 167 Genenesse Street, just south of Bleecker Street. During the Civil War years, in the 1860s, deposits increased and this made larger quarters a neccessity. A new building was constructed in early 1870 at the southwest corner of Genesee and Lafayette Streets which had an iron facade painted to resemble marble and it was nicknamed " the Iron Bank". By the end of the 19th-century the bank again needed more space so it purchased the former home of Alexander Bryan Johnson and began construction, in 1898, on the building with the gold dome. This gold dome bank is located in downtown Utica on on Genesee Street.
The Bank with the Gold Dome - Utica
This is a shot of a Utica landmark, the former, gold domed Savings Bank of Utica, now run by M&T. A little bit of very early history: It begins with John C. Devereux who left Ireland and arrived in the just named village of Utica in 1802 and opened a general store. In 1806, his younger brother Nicholas joined him. At the time, Utica was at the center of Mohawk River trade and an important transportation point for pioneers moving westward. The brothers built a new brick store on the west side of Bagg's Square in 1814 which was comparatively fireproof and its strongbox was safe against ordinary theft. They soon began accepting cash, not only for safekeeping but for long term saving and they also began investing their depositors' savings and paying them dividends. This was the informal beginning of the Savings Bank of Utica which occurred two years before the formal opening of the county's first bank. It was said to be among the first savings banks in the U.S. After the first section of the Erie Canal was opened from Utica to Rome in 1819 trade flourished and the safekeeping of the workers money became very important. In 1821 they considered it would be wise to open a formal bank and applied for a charter. The charter was for a bank to be owned by the depositors and managed by a board of trustees. In 1937 the first of the great financial pancis swept the country but the Savings Bank of Utica was able to remain intact. In 1839 a second charter was applied for and the bank was then located in the offices of Nicholas Devereux on Bleecker Street. About 1852 a new bank was opened at 167 Genenesse Street, just south of Bleecker Street. During the Civil War years, in the 1860s, deposits increased and this made larger quarters a neccessity. A new building was constructed in early 1870 at the southwest corner of Genesee and Lafayette Streets which had an iron facade painted to resemble marble and it was nicknamed " the Iron Bank". By the end of the 19th-century the bank again needed more space so it purchased the former home of Alexander Bryan Johnson and began construction, in 1898, on the building with the gold dome. This gold dome bank is located in downtown Utica on on Genesee Street.