Transfer agent, employee plan administration, trustee and other services requiring trust powers are offered through American Stock Transfer & Trust Company, LLC. One of Chemical's most popular innovations was ChemLink, a computerized system that enabled corporations to transfer funds anywhere and to have instant access to their funds worldwide. Chemical's chairman and CEO, Walter V. Shipley, engineered just such a move with the 1991 merger of Chemical with Manufacturers Hanover Corp. Called the first major bank merger among equals and the biggest bank merger in U.S. history to date, it brought together the nation's sixth- and ninth-largest banks into what became the nation's second-largest bank, behind only Citicorp, with assets of $135 billion. Baron Capital Transfer & Registrar. Note: Persons interested in registering as a transfer agent must review all applicable provisions of the Securities Exchange Act of 1934, the Securities Act of 1933, and the Investment Company Act of 1940, as well as the applicable rules promulgated by the SEC under those Acts, before registering as a transfer agent. [36] Throughout the early 1960s Chemical had begun to expand into New York's suburbs, opening branches on Long Island and in Westchester County. Management of proxy campaigns for mutual funds, including an integrated suite of specialized advisory services. 1929 Chemical NY Corp 1969 Commercial Nat'l Bank Houston, TX 1886 New York Chemical Manufacturing Co. York, NY 1823 Chemical Bank NY rust Co. 1959 Chemical Nat'l Bank of New York 1865 Robert Fleming London, UK 1909 Chemical Corn 1954 Texas Nat'l Bank 1953 . [66] The system, which worked with the Atari console, began in New York and served 200 Chemical Bank customers. After 1968, the bank operated as the primary subsidiary of a bank holding company that was eventually renamed Chemical Banking Corporation. In the first six months of 1995, for example, 100 bank mergers were announced with a total value of $37.7 billion. By then Chemical had 12 branches in Brooklyn and Manhattan, and in 1929 it opened its first overseas office, in London. [15], In 1826, John Mason became a shareholder of the bank and would serve as Chemical's second president. [43][44] Texas Commerce, which was officially acquired in May 1987, was one of the largest bank holding companies in the Southwestern U.S., with a strong presence in corporate banking for small and medium-sized businesses. From 1972 through 1977 Chemical again experienced a period of consistent growth. The company announced an agreement to merge with Florida National Banks of Florida, Inc., as soon as interstate banking between the two states was permitted. Also in 1844, when New York Chemical Manufacturing Company's original charter expired, the chemical company was liquidated and the company was reincorporated as a bank only, in accordance with more liberal banking laws passed in 1838. On September 2, 1969, Chemical installed the first automated teller machine (ATM) at its branch in Rockville Centre, New York. Chemical also pulled out of New Jersey in 1995, a market it had entered only nine years earlier. The Chemical Banking Corporation was the fifth-largest bank holding company in terms of total assets. The SEC also conducts inspections of transfer agents. [13] Mason was responsible for establishing the highly conservative business culture of the young bank that would persist for nearly 90 years. Pioneering Investment Management Shareholder Services, Inc. AST was originally founded as a transfer . [67] However, a year after launching Pronto only 21,000 of Chemical's 1.15 million customers were using the system, in large part due to the high monthly subscription costs that Chemical charged customers to use it. The Mason and Jones families would maintain effective control of Chemical for much of its first five decades. www.secic.com, Securities Transfer Corporation By 1851 the directors had sold all of the chemical division's inventories and real estate holdings and distributed the proceeds as dividends to shareholders. Since 1917, Chemical Bank's hometown approach to banking has remained steadfast and focused on community banking, highlighted by local leadership . Information about transfer agent registration, inspections, and rules can be found below. [28] In 1923, Chemical established its first branch and by the end of the 1920s had opened a dozen branches in Manhattan and Brooklyn as well as a branch in London, its first international presence. Then in 1954, Chemical would merge with the Corn Exchange Bank and only five years later merge again with the New York Trust Company. [15][28] In 1920, Twitchell was succeeded by Percy H. Johnston and remained with the bank as chairman of the board. www.eatonvance.com, Ellen Philip Associates, Inc. Mason, who would later be referred to as "the father of the Chemical Bank" and was one of the richest merchants of his day in New York, succeeded Baltus Melick in 1831. Acquired Morgan Guaranty Trust Company of New York in NEW YORK CITY, NY: 2004-11-13: Changed institution class to INSURED COMMERCIAL BANK, NATIONAL, MEMBER FRS: Comprehensive trust solutions driven by experienced and proven transaction processing. write or call the transfer agent. [3] Chemical bought additional land next to its building in 1879 and 1887 but its offices remained modest through the start of the 20th century. And in 1985 Chemical, AT&T, Bank of America, and Time, Inc., formed a joint venture called Covidea to provide electronic services. www.empirestock.com, Equity Stock Transfer LLC Check the status of a specific DRS transaction in our records. In 1992 it decided to abandon that market and sold its upstate branches to Fleet Bank of New York. [34] The merger with the Corn Exchange Bank added 98 additional branches to Chemical's system largely in the New York City and $774 million in deposits.[33]. Issuing & Paying Agent Registrar & Transfer Agent . American Stock Transfer & Trust Company, LLC (AST) is a full-service, tech-enabled professional services firm that helps companies and shareholders across North America maintain momentum through the use of secure corporate data, analytics, advisory services, and a strategic approach to every interaction. Later that year Chemical merged with the United States Mortgage & Trust Company. The bank gained two further advantages from its national charter: it became a depository of federal funds and the required reserves of other national banks, and its reputation for soundness was enhanced by the higher liquidity and solvency requirements set by the federal government. The agreement involves the functions of stock transfer agent, stock registrar, dividend reinvestment agent, proxy processor and agent in stock transactions for corporate mergers and. Transfer agents work for the security issuer to record changes of ownership, maintain the issuer's security holder records, cancel and issue certificates, and distribute dividends. Certified and Overnight Delivery. The company grew steadily through its long history, then more dramatically in the late 1980s and early 1990s when it became a superregional bank with holdings in New York, New . This merger, effective in May 1987, was the largest interstate banking merger in U.S. history to date and allowed Chemical to expand into yet another major banking market. STAY CONNECTED [19][20] Chemical's decision was highly unpopular among its fellow banks and led to the bank's temporary suspension from the New York Clearing House, of which Chemical was a charter member. It also expanded its international operations by purchasing a 30 percent interest in a London merchant bank in 1977 and participating in several ventures with financial institutions in Austria, the Philippines, and other countries. www.disney.com/investors, Web Stock Transfer Agency Inc. In 1993 Chemical had received permission from the Federal Reserve to underwrite corporate bonds, and the bank aimed to become a major underwriter of below-investment-grade debt within a few years. Its stock commands a greater price in proportion to its par value than any other bank stock. In 1982 the bank also introduced Pronto, an electronic home banking system for consumers and small businesses. www.continentalstock.com, Corporate Stock Transfer, Inc. As a result of the merger, Chemical's assets rose to $200 million, its capital to $4.5 million, its deposits to $140 million. Following lawsuits, countersuits, and stockholder actions, the combat ended in a draw; Southeast would get the Florida National Bank branches and Chemical got the remainder of the company's business, giving it a foothold in the lucrative Florida market. However, by the late 1960s and early 1970s, Chemical was focused on building its international business. Shareholder Compliance Consultants, N.A., Inc. Unclaimed Property Recovery & Reporting, Inc. www.wellsfargo.com/com/shareowner_services, Standard Oil Trust #485 Signed by John. In the early 1960s Chemical began to expand into New York's suburbs, opening branches on Long Island and in wealthy Westchester and Nassau Counties. Platten and Chemical President Walter V. Shipley were immediately embroiled in a battle with Southeast Banking Corporation, a major competitor of Florida National Banks that wanted to pursue its own takeover bid. The new institution took the Chase Manhattan name, with Shipley serving as chairman and CEO and Chase's chairman Thomas G. Labrecque acting as president and chief operating officer. AST understands and addresses the unique challenges faced by finance teams. SEC rules and regulations are intended to facilitate the prompt and accurate clearance and settlement of securities transactions and that assure the safeguarding of securities and funds. On February 24, 1823, Melick, Spenser, and three other merchants incorporated the New York Chemical Manufacturing Company, headquartered in New York, to produce a variety of chemicals. The two systems for transferring funds -- one for Chemical at 55 Water Street and one for Manufacturers nearby at 4 New York Plaza -- were combined Saturday and yesterday under the Chemical. Chemical Bank was a bank with headquarters in New York City from 1824 until 1996. We offer customized solutions and dedicated relationship management teams to meet your unique needs, a consultative approach that guides you on compliance and other risks, stringent controls over data through technical security, innovative tech tools on a customized platform, a staff with decades of experience, and a dedication to building real relationships. Late in the decade Chemical was hit hard in loan losses from Third World borrowers, especially Argentina and Brazil. What Chemical needed was to create a corporate image to distinguish it from other New York banks. *Registered data integration requires transfer agent services from AST. In 1865 the bank acquired a national charter under the National Bank Act of 1865 as the Chemical National Bank of New York. www.firstamericanstock.com, First Command Financial Planning The acquisition of Citizens National, a small New York commercial bank, increased Chemical's assets to more than $200 million with more than $140 million of deposits. [35] Following the merger, the bank dropped the usage of the "corn exchange" from the corporate name to become the Chemical Bank New York Trust Company. Melick was named the first president of the bank, which catered to merchants in New York City. Advisory, processing and support for complex transactions, including M&As, IPOs and stock splits. www.atlasresourcepartners.com. the company and chemical bank . The Chemical-Chase merger was similar to the Chemical-Manufacturers merger in that the two banks had numerous overlapping areas of operations that could serve as bases for cost cutting. [13] Additionally, Joseph Sampson, although not a director, was among the largest of the original shareholders of the later bank. [1], Chemical was one of the leading banks in the U.S., active both in corporate banking as well as retail banking. This merger was the first in a series that helped increase the bank's assets from $1.35 billion in 1946 to $15 billion by 1972. [33] At the time of the merger, Chemical Corn was the fourth largest bank in New York and New York Trust was the ninth largest bank and the merger created the third largest bank in New York, and the fourth largest in the U.S. with $3.8 billion of assets. Early in 1995 it sold 84 branches in southern and central New Jersey to PNC Bank Corp. for $504 million. The following is a brief overview of the transfer agent registration process and the annual reporting requirement for registered transfer agents. Even as Chemical Bank earned a reputation for soundness and foresight among grateful corporate and individual customers during the crisis, it earned quite another among its peers. dated as of august 3, 2017 . [18], During the Panic of 1857, Chemical Bank earned the nickname "Old Bullion" by taking a stand that it would continue to redeem its bank notes in specie throughout the crisis. [31][32] During the Depression-era of the 1930s, Chemical's deposits grew by more than 40% and in 1941, the bank reached $1 billion of assets. www.islandstocktransfer.com, Jersey Stock Transfer LLC Shareowner Relations Specialists are available Monday through Friday, from 7:00 a.m. to 7:00 p.m. Central Time. In 1986 Chemical celebrated its tenth consecutive year of earnings growth by announcing another merger agreement, again with a company whose market was outside Chemical's traditional sphere of operations. www.dunnconsultingtraining.com, Dupree & Company Inc. All obligations incurred by U55 Corp. in connection with the project, including plaintiff's contract, were assumed by U55 Partnership. www.dupree-funds.com, Eastern Caribbean Central Securities Registry First president, Charles S. Fairchild. http://transhare.com, The Walt Disney Company In 1968, Chemical reorganized itself as a bank holding company, Chemical New York Corporation, which allowed for more rapid expansion. By 1907 the bank had lost its competitive advantage and was losing accounts at a rate of about 100 per year. This time the merger partner was a New Jersey bank holding company, Horizon Bancorp. Cage concocted a scheme whereby he induced the plaintiff's transfer agent to issue new shares with a market value of about $700,000 after transferring to the corporation worthless contract rights . :uwurms (Mason acting as agent for Taylor, assigned all of his interest in the partnership to Taylor), . www.presidentstocktransfer.com, Progressive Transfer Corp. Among Chemical's largest international exposure was to Japan, Germany, and the United Kingdom. For more information,click here. All rights reserved. He set up a trust department and engineered Chemical's first merger, in 1920, with Citizens National Bank, a small but wealthy New York commercial bank. Again, the actual merger had to wait until interstate banking between New York and New Jersey was allowed. [14] In April 1824 the company amended its charter to allow Chemical to enter into banking, creating a separate division for the new activity. Transfer secretary is used in South Africa. Section 17A(c) of the 1934 Act requires that transfer agents be registered with the SEC, or if the transfer agent is a bank, with a bank regulatory agency. ", The Executive Computer; When Technology Outpaces Needs, "B of A, Chemical, AT&T and Time Plan Home Banking", "Technology: Back to The Velvet-Roped Lines", Funding Universe History of Chemical Bank, Indiana Michigan Power Center (Fort Wayne), https://en.wikipedia.org/w/index.php?title=Chemical_Bank&oldid=1147936665, American companies disestablished in 1996, 1996 disestablishments in New York (state), Short description is different from Wikidata, Wikipedia articles needing clarification from January 2022, Articles with unsourced statements from August 2019, Articles with unsourced statements from October 2020, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 3 April 2023, at 04:04. During the early 1930s, when about 8,000 banks failed and many others struggled to remain solvent, Chemical Bank's deposits actually rose by 40 percent. At the same time, the myriad, shaky real estate deals made in the United States in the 1980s came back to haunt Chemical (and many other banks). www.equitystock.com, E-Surety Brokerage, Inc. Eastman Chemical Company; Five Penn Plaza; 19th Floor New York, NY 10001; 1 . learn how over 7,000 companies got started! The most important of these unions was Chemical's 1954 merger with the Corn Exchange Bank Trust Company to form Chemical Corn Exchange Bank. Merged into and subsequently operated as part of Chemical Bank (628) in NEW YORK CITY, NY: 1993-07-01: Acquired Texas Commerce Banks in NEWARK, DE: . www.troweprice.com, TMX Equity Transfer Services Inc. In 1923 Chemical established its first branch bank. [49][50] It was not until 1993 that Chemical would receive permission to underwrite corporate bonds, however within a few years, Chemical (and later Chase) became a major underwriter of below-investment-grade debt under Lee. Chemical's level of capital at the end of 1995 remained strong, with capital adequacy ratios well in excess of regulatory requirements. AST did an amazing job with the conversion, we safely hit the ground running and Im thrilled with the change. Chemical Bank Company History Timeline 1917 New York Times, May 22, 1917.) www.hamptontech.net, Hawaiian Electric Industries Inc. fourth supplemental indenture . At AST, we serve as your strategic partner, adding value through high-level consultative services and integrated execution of stock transfer agent services including complete share registry management, compliance risk reduction, and shareholder engagement. www.bostonfinancial.com, Broadridge Corporate Issuer Solutions, Inc. Transfer Agent Forms. Issuer Central is an easy-to-use, online platform that delivers powerful analytics and key insights, such as peer and historical trends, as well as reporting capabilities. [68] By combining resources and sharing costs, the four firms hoped to reduce the risk of large and protracted losses. Issuer Central is an easy-to-use, online platform that delivers powerful analytics and key insights, such as peer and historical trends, as well as reporting capabilities. By the early 1870s, Chemical had accumulated deposits in excess of $6 million (equivalent to $129million in 2021). With Issuer Central, your team can take your ownership insights one step further to make more informed decisions and drive your company forward. 1839 Bank of Commerce opens Chemical Bank 'Transfer Agent, Registrar, Paying Agent and Other Corporate Agency' Historical Data The chart below is the historial 'Transfer Agent, Registrar, Paying Agent and Other Corporate Agency' of Chemical Bank. Additionally, JPMorgan Chase retains Chemical's pre-1996 stock price history, as well as Chemical's old headquarters at 270 Park Avenue. [5] Despite expanding its 1907 headquarters over the years, by the mid-1920s Chemical needed more space to accommodate its growth and reflect its increasing profile. . [2], Of Chemical's $182.9 billion, the bank held about $82.1 billion of loans, including mortgage loans, other consumer loans, and commercial loans in the U.S. and internationally. Chemical Bank earned the nickname "Old Bullion" during the crisis by continuing to redeem bank notes in specie for several days after all other financial institutions had started issuing paper loan certificates. After the merger, Johnston became Chemical's first chairman and John W. Platten, formerly president of United States Mortgage, replaced him as president. Language links are at the top of the page across from the title. Asia Pacific. Chemical Banks roots lie in the 1823 foundation of the New York Chemical Manufacturing Company by Balthazar P. Melick and directors John C. Morrison, Mark Spenser, Gerardus Post, James Jenkins, William A. Seely, and William Stebbins. [15] Isaac Jones and later his cousin John Quentin Jones would lead Chemical, both serving as president, across the next forty years through 1878. Chemical frequently used the refrain "Good as gold then, good as gold today" in advertisements from the 1860s well into the 20th century. www.jerseytransfer.com, John Hancock Signature Services See Nationally Recognized Statistical Rating Organizations to find specific citations. Although Chemical was the acquiring company and the nominal survivor, the merged bank adopted the Chase name, which was considered to be better known, particularly internationally. [66] Chemical had spent $20 million to develop the software for Pronto. Eastman Chemical Company's investor contact list for transfer agent and registrar, investor contact and media contact. CHEMICAL BANK & TRUST CO. 1937 OK 457 71 P.2d 468 180 Okla. 537 Case Number: 26870 Decided: 07/13/1937 Supreme Court of Oklahoma DUNHAM v. CHEMICAL BANK & TRUST CO. Syllabus 0 1. [61][62], The bank continued to operate under the Chase brand until its acquisition of J.P. Morgan & Co. in December 2000 to form JPMorgan Chase & Co. The first cause of action invokes the judicial power to compel Eastern through Chemical to transfer the subject shares pursuant to plaintiff's instructions. With competition increasing in the banking industry, Chemical needed to take dramatic action to hold off its rivals. First the bank stopped losing customers, then, between September and December 1917, deposits rose from $35 million to $63 million. The first, Chemical National Company, Inc., bought, sold, and underwrote securities. Johnston turned the company around very quickly. With such moves, Chemical became the leading corporate bank in Texas. Percy H. Johnston, a young Kentucky banker, became vice-president in 1917. The capital raising process requires a reliable partner who will ensure that no detail is overlooked, and who will oversee all administrative services associated with the process. ; Chemical Business Credit Corp.; Chemical Capital Corporation; Chemical Equity Incorporated; Chemical Financial Management Corp.; Chemical Financial Services Corporation, Ltd.; Chemical First State Corporation; Chemical Futures, Inc.; Chemical Futures Management, Inc.; Chemical Futures & Options, Inc.; Chemical International Securities Corp.; Chemical Investments Inc.; Chemical Mortgage Securities, Inc.; Chemical New Jersey Corporation; Chemical New Jersey Holdings, Inc.; Chemical New York, Inc.; Chemical Real Holdings, Inc.; Chemical Realty Corp.; Chemical Securities Inc.; Chemical Technologies Corporation; The Chemical Investment Group Ltd.; The CIT Group Holdings, Inc.; Manufacturers Hanover Trust Company; Manufacturers Hanover Venture Capital; MH Leasing International; New York Switch Corporation (12.62%); Offshore Equities, Inc.; The Portfolio Group, Inc.; Pronto, Inc.; Texas Commerce BancShares, Inc.; Van Deventer & Hoch; Bank of New Providence, Limited (Bahamas); SA Manufacturers Hanover Bank NV (Belgium); Court Square Financial, Ltd. (Bermuda); Banco Norchem, S.A. (Brazil); Chemical Administracao e Consultoria Economico Financeira Ltda. While Shipley returned to the helm and Chemical's merger with Manufacturers paid dividends, the U.S. banking industry was undergoing consolidation at a frenzied pace. The Corporation's Tier 1 and Total Capital ratios were 8.5% and 12.1%, respectively. American Stock Transfer & Trust Company; 6201 15th Avenue; Brooklyn, NY 11219; Telephone: 1 (718) 921-8200 . The panic, which had hit banks and caused a number of failures, led banks across the country to suspend specie payments and turn to issuing paper promissory notes. Under Helm, Chemical completed a series of large mergers in the late 1940s and early 1950s that again made the bank among the largest in the U.S.[33] In 1947, Chemical merged with Continental Bank and Trust Company. 2023 THE BANK OF NEW YORK MELLON CORPORATION. In 1920, Chemical completed its first major acquisition, merging with Citizens National Bank. [6], Under Chairman Donald Platten, Chemical's headquarters was to move to 277 Park Avenue in 1979. Access issuer and shareholder forms related to Transfer Agent services. We see them around but we don't know what goes on behind the scenes. Founded in 1853, the Corn Exchange Bank was based in New York City, but had built a network of branches in other states through the acquisition of community banks. AST is focused on shareholder experience and education. [45][46], Also in 1986, Chemical agreed to a merger with New Jersey-based Horizon Bancorp, although the merger was not completed until 1989, due again to interstate banking rules. Chemical bank customers and served 200 Chemical bank customers York, NY ;... His interest in the partnership to Taylor ), and addresses the unique challenges faced by finance teams Park. Issuing & amp ; Paying agent Registrar & amp ; Paying agent Registrar & amp ; Paying Registrar... 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