Lehman Brothers Collection - Contemporary Business Archives

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Crocker National Corporation - Lehman Brothers Collection

Crocker National Corporation

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Crocker National Bank

Crocker National Corporation was a holding company incorporated in 1968. Crocker National Bank became a wholly owned subsidiary of the corporation.

The merger in 1963 of Crocker-Anglo National Bank (San Francisco, CA) and Citizens National Bank (Los Angeles, CA) under the name of Crocker-Citizens National Bank created a new statewide bank in a setting of increasing growth in both domestic and international trade. The merger enabled the bank to take advantage of its extended geographical coverage and broadened financial base throughout the state of California and to participate in the growth trends that would benefit shareholders, customers, and the overall economy in the region. After the merger, the bank was fully equipped to take care of the banking needs of the largest corporate customers, while at the same time it continued to maintain its long-established policy of serving the banking needs of individual customers. With the original headquarters in San Francisco, California, this general commercial banking and trust business was the twelfth-largest commercial bank in the United States and the fourth-largest in California in total assets and total deposits in 1974.

The bank held California's first national bank charter, which was issued in 1870. On the basis of deposits as of 1963, it was the twelfth-largest bank in the United States and the fourth-largest in California. Deposits and loans on December 31, 1963, amounted to $2,982,431,426 and $1,790,709,422, respectively.

In 1963 the president of the United States and the secretary of commerce honored the bank's International Banking Department and awarded it the "E" Flag for excellence in the promotion of foreign trade. The bank's International Banking Department cooperated with customers and other banks in providing needed correspondent and trade facilities. The merger also helped to broaden the bank's base and enabled it to increase its activities in the international banking field.

In the years ahead, the bank anticipated a sharp increase in demand by its customers for electronic accounting services to be provided from the bank's data-processing centers. A wide range of special services to business and industry proved to be a desirable adjunct to the banking services offered to customers. Such new services were thought to include accounting and full accounting systems for credit unions, savings and loan associations, insurance companies, and correspondent banks.

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