Long Island Bank

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In the early 1820s, Brooklyn was the 16th largest inhabited place in the United States^{[citation needed]}; however, Brooklyn had no bank and no insurance company.

In 1824, the bank was incorporated and became the first bank in Brooklyn.^{[citation needed]} The initial capital of the bank was $300,000 in $50 shares. Bank notes were issued from 3 August 1824.^[1][2] Its offices were at 7 Front Street in Brooklyn. The first President was Leffert Lefferts.^[1]

In 1867, William S. Herriman, president of the bank, died and was replaced by William C. Fowler.^[3]

In 1877 Judge Landon of Schenectedy instructed the Long Island Savings Bank trustees to wind up the affairs of the bank, with payments to start December 14, 1877.^[4]