citations for verification . please help improve this article by adding citations to reliable sources . unsourced material may be challenged and removed . may 2008 learn how and when to remove this template message marine midland bank n.a. 1980 1999 marine midland banks inc 1929 1995 hsbc americas 1995 1999 let s work it out together former type nyse mm 1920 1987 subsidiary of hsbc holdings plc 1987 1999 industry finance and insurance fate acquired by hsbc 51 % 1980 and 100 % 1987 renamed hsbc bank usa 1999 founded july 10 1850 defunct march 29 1999 headquarters buffalo ny united states key people malcom burnett president and ceo products financial services total assets 33 billion as of 1999 website http www.us.hsbc.com marine midland bank was a bank formerly headquartered in buffalo new york with several hundred branches throughout the state of new york . it was acquired by hsbc in 1980 and changed its name to hsbc bank usa in 1999 . contents 1 history 1.1 founding 1.2 mergers and acquisitions 1.3 hsbc 2 properties 3 see also 4 references history edit founding edit marine bank was founded as marine bank a state chartered bank on july 10 1850 with capital of 170 000 . it was founded by eight men from across new york general james s. wadsworth of geneseo j. p. beekman of kinderhook new york john arnot of elmira john magee and constant cook of bath william r. gwinn of medina and george palmer and james m. ganson of buffalo . both palmer and wadsworth had railroad connections . the two had financial interests in and served as directors of the attica and hornell railroad while palmer had links also with the buffalo and state line railroad . palmer was elected president and ganson was named cashier . the new institution was called marine bank because much of its early business depended on the economic vitality of buffalo s lakefronts and riverfronts . indeed it was intended to finance the new shipping trade on the great lakes . from the first day it opened its doors on august 27 at 79 main street marine was the prominent bank for the thriving grain and milling industry on the waterfront . however the diverse geographic base of the bank s eight founders indicated that they intended to expand across new york . mergers and acquisitions edit by the start of the 20th century marine bank began to expand through merger . in 1897 it absorbed the american exchange bank and in 1902 it acquired the buffalo commercial bank . that same year it became a national bank and changed its name to marine national bank of buffalo . the next acquisition came in 1913 when marine absorbed columbia national bank . that same year the bank built a new 17 story office building in buffalo known as the marine midland trust company building . six years later bankers trust was acquired . marine chose to become a state bank again as marine trust company of buffalo . by the mid 1930s marine had acquired eight other banks . marine had also taken the lead in the formation of marine midland corporation a holding company for 17 affiliated banks throughout new york . that first multibank holding company in the state was formed october 4 1929 . 1 20 days later would be the wall street crash of 1929 . as a result of 11 mergers throughout western new york marine trust company became marine midland trust company of western new york in the 1950s . the name was changed again in the 1960s to marine midland trust company of western new york and again in 1970 to marine midland bank western . in 1972 the bank moved its headquarters to a new 33 story tower marine midland center . on january 1 1976 marine midland merged all of its affiliated banks under the single charter of marine midland bank with headquarters in buffalo . the new bank was divided into regions with marine midland bank western region based in buffalo . marine midland bank became a national bank once again in early 1980 . as it entered the 1980s assets were close to 20 billion . 2 hsbc edit hsbc usa headquarters in new york city on 5th avenue in 1980 the hongkong and shanghai banking corporation acquired a 51 percent controlling interest in marine midland corporation . by then it was the 13th largest commercial bank in the united states with about 300 banking offices across new york and about 25 offices in foreign countries . hsbc acquired full ownership in 1987 . in 1983 marine midland bank acquired carroll mcentee & mcginley now hsbc securities usa a new york based primary dealer in us government securities . in 1994 marine midland acquired spectrum home mortgage which operated in eight states . then in 1995 marine acquired united northern federal savings bank with branches in watertown and lowville new york . marine midland also acquired the hongkong and shanghai banking corporation s six new york city retail branches and the next year hang seng bank s two branches in new york city . that same year marine midland acquired 11 branches from the east river savings bank in the new york metropolitan area . marine also acquired the us dollar clearing business of j p morgan . at the same time hsbc transferred two branches in the northwestern united states to hongkong bank of canada . the next year marine completed its acquisition of first federal savings and loan from toronto based ct financial services for 620 million . first federal savings headquartered in rochester had 7.2 billion in assets 1 600 employees 79 retail branches in new york state and 15 mortgage origination offices in nine states . in 1998 marine midland acquired first commercial bank of philadelphia which had been established in 1989 as the first state chartered asian american bank in pennsylvania . the bank served the local asian community which often faced language and cultural barriers at traditional american banks . marine paid 23.75 million for first commercial which had 90 million in assets and 78 million in deposits in two branches . the bank continued to operate under the marine midland name until 1998 when the legal name changed to hsbc bank usa n.a. and all branches took the hsbc name . in 1999 at the time of its consolidation and change to hsbc bank usa the bank had 33 billion equivalent to 47 909 963 000 in 2015 in assets . in 2011 hsbc sold its retail banking network in upstate new york and connecticut to first niagara financial group . for all intents and purposes hsbc had jettisoned the original core of marine midland . in 2013 hsbc vacated its office space in what was by now known as one hsbc center ; its former headquarters was renamed one seneca tower . also of note marine midland had purchased naming rights to the buffalo sports and entertainment venue constructed in 1996 the marine midland arena home of the buffalo sabres . today the venue is known as the keybank center . properties edit marine midland building at 140 broadway in manhattan marine midland owned either wholly or in part several prominent properties in western new york and new york city including 250 park avenue in manhattan marine midland building at 140 broadway in manhattan indirect 20 % participation in harry helmsley s interest near the world trade center . completed in 1967 this 52 story 688 ft 209.7 m highrise provides 1.2 million square feet 110 000 m of office space in lower manhattan and is noted for isamu noguchi s distinctive cube sculpture at its entrance . one seneca tower in downtown buffalo main seneca building in downtown buffalo rand building in downtown buffalo see also edit hsbc bank usa references edit huge new company will buy 16 banks . new york times . september 19 1929 . retrieved 2012 08 12 . the marine midland corporation a holding and management company is being organized by new york banking interests to acquire ownership of banks and trust companies in new york state and ultimately in other states . ... brown richard c. ; bob watson 1981 . buffalo lake city in niagara land . windsor publications . p. 297 . isbn 0 89781 036 8 . v t e hsbc board of directors douglas flint group chairman stuart gulliver group ceo iain mackay group finance director marc moses group chief risk officer phillip ameen kathleen l. casey safra a. catz laura cha lord evans of weardale joachim faber rona fairhead sam laidlaw john lipsky rachel lomax heidi miller sir simon robertson jonathan symonds brands first direct hang seng bank hsbc hsbc expat hsbc premier hsbc private bank hsbc trinkaus m & s money proa sabb principal local banks argentina australia canada people s republic of china egypt france germany hong kong india malaysia middle east mexico panama poland saudi arabia sri lanka taiwan turkey united kingdom united states minority stakes and joint ventures bank of communications 19 % hsbc saudi arabia 60 % sabb 40 % ping an insurance 19.9 % techcombank 15 % bank of shanghai 8 % predecessor companies grupo banistmo bank of british columbia barclays bank canada beneficial continental bank of canada cr dit commercial de france greenwich savings bank guyerzeller household imperial bank of persia lloyds bank canada marine midland bank midland bank republic new york samuel montagu & co. williamsburgh savings bank former susbsidiaries hsbc bank brazil category commons wikiversity retrieved from https en.wikipedia.org w index.php title marine midland bank & oldid 743906415 categories defunct banks of the united stateshsbc acquisitionsdefunct companies based in new yorkbanks based in new yorkbanks established in 1850hidden categories articles needing additional references from may 2008all articles needing additional referencespages using infobox company with unsupported parameters navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what 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