Dollar Bank
From Wikipedia, the free encyclopedia
| Dollar Bank | |
 |
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| Type | Mutual Society |
|---|---|
| Founded | 1855 |
| Headquarters | Pittsburgh, Pennsylvania |
| Key people | Stephen C. Hansen, President and CEO |
| Industry | Financial Services |
| Revenue |  $246 million (2005) |
| Employees | 1,300 |
| Website | www.dollarbank.com |
Dollar Bank is a federal savings bank headquartered in Downtown Pittsburgh, Pennsylvania. It is one of the leading financial institutions in both western Pennsylvania and eastern Ohio. The company started off small in 1855 but grew quickly in the early 20th century, especially due to the corporation's reputation for reliability, even during the Great Depression. Dollar Bank expanded its services beyond metro Pittsburgh by purchasing Cleveland-based Continental Bank in 1984.
Dollar Bank is first and foremost a lending institution. Over 80% of the bank's loan portfolio is represented in residential mortgages. The company also provides many services for small businesses, and has become well know for having a commitment to the growth of these small proprietorships. Private financial services are also offered. The corporation began offering credit and producing credit cards in 1986.
Innovate advancements have been key to Dollar Bank's success. It was the second corporation in the world to allow for bills to be paid via the telephone, when it had this system installed in 1976. It was also ahead of its time in terms of the availability of ATMs and the use of online banking. Dollar also offered free checking and free withdrawal from ATMs long before its competitors.
In an era of demutualization, Dollar Bank has remained as a cooperative mutual society. There is a consensus among company executives that going public would not be the right direct for the company.[1]
[edit] References
| Pittsburgh-based Corporations (Within the Pittsburgh Metro Area) |
|---|
| Pittsburgh-based Fortune 500 Corporations: U.S. Steel | PPG | H.J. Heinz | PNC Financial | Mellon Financial | WESCO International |
| Pittsburgh-based Fortune 1000 Corporations: Allegheny Energy | Consol Energy | Allegheny Technologies | Dick's Sporting Goods | Kennametal | American Eagle Outfitters | Wheeling-Pittsburgh Steel | Mylan |
| Pittsburgh-based Forbes Largest Private Companies: 84 Lumber | GNC | Giant Eagle | Sheetz |
| Externally owned, regionally based, and other Pittsburgh corporations: American Bridge | Ampco Pittsburgh | Bayer USA | Calgon Carbon | Dollar Bank | DQE Holdings | Eat'n Park | Federated Investors | FedEx Ground | GlaxoSmithKline | Guru.com | Highmark | iGate | Koppers | Michael Baker | Mine Safety Appliances | NOVA Chemicals | Oxford Development | Pittsburgh Brewing Company | Respironics | rue21 | University of Pittsburgh Medical Center | Vivisimo | Wabtec |
