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The National Bank of Detroit (NBD), later renamed NBD Bank, was a bank that operated mostly in the Midwestern United States. Following its merger with First National Bank of Chicago, the bank was ultimately acquired and merged into Bank One, at which point the NBD name was discontinued.
On September 14, 1959, the National Bank of Detroit moved into its new headquarters on the south side of Campus Martius. The building was dedicated on October 4, 1959. Work on NBD's "cheese grater" began in the summer of 1957 and led to the demolition of Detroit's first skyscraper, the Hammond Building, the Union Trust Co. Building and others ...
National Bank of Detroit was founded in the midst of a nationwide financial collapse. Although bank failures, especially of small institutions, were not infrequent during the 1920s, the stock market crash of October 1929 undermined the basic foundations of the U.S. banking system, resulting in 3,635 bank closings nationwide in 1930--31.
The National Bank of Detroit (NBD), later renamed NBD Bank, was a bank that operated mostly in the Midwestern United States. Following its merger with First National Bank of Chicago, the bank was ultimately acquired and merged into Bank One, at which point the NBD name was discontinued.
The National Bank of Detroit (NBD), later renamed NBD Bank, was a bank that operated mostly in the Midwestern United States. Following its merger with First National Bank of Chicago, the bank was ultimately acquired and merged into Bank One, at which point the NBD name was discontinued.
Work on NBD's headquarters bank building, begun in the summer of 1957, marked one of only a few major commercial construction projects in downtown Detroit in the previous twenty-five years. The bank moved into its new headquarters on September 14, 1959.
The First National Bank of Detroit was forced to honor some $250 million in withdrawals.
Bank customers crowd the lobby of the National Bank of Detroit on its first day of business; after a prolonged "bank holiday", during which all of Detroit's banks were declared insolvent, the National Bank of Detroit was capitalized by General Motors and the federal government and took over their assets.
The National Bank of Detroit (NBD), later renamed NBD Bank, was a bank that operated mostly in the Midwestern United States. Following its merger with First Nat...
For much of its 56-year history, the National Bank of Detroit was the big lender that nobody on Wall Street cared about. Partly, this reflected the bank's conservative style.