IRVING TRUST COMPANY. This company, with head quarters at one Wall street, New York city, takes its name from the Irving Bank, New York, originally organized in 1851 as a New York State bank. It was chartered in 1864 as a national bank. It took the name Irving National Exchange Bank of New York in 1907, when it merged with the New York National Exchange Bank of New York (also organized in 1851). In 1912, the bank changed its name to Irving National Bank, New York, and was again converted into a New York State bank in 1923, when it merged into the Columbia Trust Company, founded in 1871.
This merger was accompanied by an increase in the capital from $5,000,000 to $17,500,000 and the new institution was named Irving Bank-Columbia Trust Company. In 1926 the company merged with the American Exchange-Pacific Bank under the name of American Exchange Irving Trust Company, with $3 2,000,000 capital. The American Exchange Bank had its origin in 1838 as
a New York State bank. This institution was chartered as a na tional bank in 1865 and changed its name to American Exchange Pacific National Bank in 1925, when the Pacific Bank, a New York State institution, was merged with it. The name Irving Trust Company was adopted in 1929.
On June 3o, 1939, the total assets of the company were $763, 189,801; its capital stock $5o,000,000 'fully paid, and its surplus and undivided profits $53,061,484. It is a member of the Federal Reserve System, the New York Clearing House Association, and the Federal Deposit Insurance Corporation.