The First $2 Billion Bank

Chase Bank Had Two Billion Dollars In Deposits During The Depression

In New York City on June 30, 1930 The Chase National bank announced it had deposits of $2,065,434,000.

It was the first time in history that any bank’s deposits had topped the two billion dollar figure.

Chase achieved this lofty figure by a series of mergers. On June 2, 1930 Chase merged with The Equitable Trust Company and The Interstate Trust Company. Chase had also merged in the past year with National Park bank. These mergers increased Chase’s deposits by over one billion dollars in less than a year.

Eighty years later some banks lose significantly more than that sum in a bad quarter.

According to their annual report as of December 30, 2011, JP Morgan Chase, as the company is now known, has total assets of $2.265 trillion dollars.

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  1. Pingback: Chase National Bank was The First $2 Billion Bank « poetsareangels

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