// Workers AI · dad joke modeWhy did AmTrust Bank go to therapy? It had trust issues.
 The Ohio Savings Plaza building, the bank’s headquarters in Cleveland, Ohio, from 1977 until 2009 when the company closed. | |
| Type | Private |
|---|---|
| Industry | Banking |
| Founded | 1889 |
| Defunct | December 4, 2009 |
| Fate | Bank failure; assets acquired by New York Community Bank |
| Successor | New York Community Bank (now Flagstar Bank) |
| Headquarters | , |
AmTrust Bank was a bank based in Cleveland, Ohio. The company was founded in 1889 and was closed in December 2009.
History
[edit]The bank was founded in 1889 as Ohio Savings, Loan & Building Co.[1]
In 1963, Leo Goldberg acquired control of the company.[1]
In 1975, the bank acquired Citizens Federal Savings & Loan of Akron.[1] In 1978, the bank acquired Shaker Savings.[1] In 1989, the bank acquired Palm Plaza Savings Association, based in Boca Raton, Florida.[2]
In 2000, the bank opened its first branches in Phoenix, Arizona.[1] In 2007, the bank changed its name to Amtrust Bank.[3] In January 2009, the bank sold its 5 branches in Columbus, Ohio, to WesBanco.[4]
On December 1, 2009, AmTrust Financial Corp., the parent company of AmTrust Bank, filed for Chapter 11 bankruptcy protection.[5] On December 4, 2009, as a result of bank failure, the bank was shut down by the Office of Thrift Supervision. It was placed into receivership and the Federal Deposit Insurance Corporation was named receiver. The assets of the bank were sold to New York Community Bank.[6][7] NYCB changed the name of the acquired Ohio branches back to Ohio Savings Bank.[8]
References
[edit]
- 1 2 3 4 5 Dixon Murray, Teresa (December 5, 2009). "A history of AmTrust Bank". Cleveland Plain Dealer.
- ↑ "Institution History for AMTRUST BANK, F.S.B. (52876)". Federal Financial Institutions Examination Council.
- ↑ Dixon Murray, Teresa (April 19, 2007). "Ohio Savings Bank changing its name to AmTrust". Cleveland Plain Dealer.
- ↑ Dixon Murray, Teresa (January 23, 2009). "AmTrust sells Columbus branches". Cleveland Plain Dealer.
- ↑ Fitzgerald, Patrick (2009-12-01). "AmTrust Bank Parent Company Files For Chapter 11 Protection". The Wall Street Journal. Retrieved 2026-03-28.
- ↑ "FDIC Failed Bank Information: AmTrust Bank, Cleveland, OH". Federal Deposit Insurance Corporation.
- ↑ Dixon Murray, Teresa (December 4, 2009). "AmTrust Bank fails, bought by New York bank". Cleveland Plain Dealer.
- ↑ Kass, Arielle (January 8, 2010). "Ohio Savings name to return to AmTrust Bank branches in Ohio". Crain's Cleveland Business. Crain Communications.