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KeyBank, which was founded in 1994 by the merger of the Cleveland ("Society Bank") Company and the Albany KeyCorp, New York, KeyBank is the primary subsidiary of KeyCorp. Key was the 10th largest US bank briefly by the merger. It is rooted in 1825 and established in 1849 by the Cleveland Savings Society, to commercial bank Albany, New York.

The For Savings Company was founded in 1849 by Samuel H. Mather, as a mutual savings bank. In 1867, Cleveland's first skyscraper, the ten-story Savings Society, was constructed on Public Square by the modest yet rising banking firm. The bank was highly conservative, as it constructed the tallest structure between New York and Chicago at the time. This point is emphasized because it had only one office when the centenary in 1949 was celebrated, although over $200 million in deposits. It still has more than one office. The bank has taken away several deflations and financial panics with this conservatism.

In 1958 the Corporation was turned into a public company, enabling it to expand rapidly through the acquisition of 12 local banks under the banner Society National Bank from 1958 to 1978. From 1979 to 1989, it experienced another growth boost when it purchased hundreds of small banks and concluded four $1 billion mergers, primarily in 1986 at the Central National Bank in Cleveland. CEO Gordon E. Heffern retired in 1987. Robert W. Gilespie took over who was 42, but a major player and a president for more than 5 years. In 1987 Gillespie was elected President of the company. He was also named chairman of Gillespie. Gillespie began to make money as a teller with the Society while he graduated.

In January 2015, KeyBank joined the Balko Wind project, which had been purchased by the D.E from Apex Renewable Energy, in a building debt fund union. Investments for Shaw Renewable.

KeyCorp acquired $4.1 billion cash and stocks for the First Niagara Bank on 29 July 2016. The deal improved Key's role in Upstream New York and New England, and for the first time in Philadelphia and Pittsburgh entered Pennsylvania. The deal has made Key one of Pittsburgh's largest banks and has made it a branch which once belonged to the rival Crosstown National City Corp. and which he wanted to acquire from PNC Financial Services after PNC purchased the National City by 2008 before being outlawed by First Niagara. As a result, Core of what was Marine Midland Bank, the long-standing competitor of KeyCorp, was now owned by KeyCorp. The first Niagara acquired the majority of the upstate Niagara subsidiary network of HSBC Bank US in New York in 1999 which changed its name from Marine Midland; Key acquired in 2012 37 branches of HSBC, as mentioned above.

As part of the deal, 18 First Niagara branches were sold to the Northwest Savings Bank on antitrust grounds in Erie County and Niagara County.
In Cleveland's regional economy with 6,400 workers, KeyBank continues to play an important role.

Typical Hours of Operation

Mo 9:00 - 17:00
Tu 9:00 - 17:00
We 9:00 - 17:00
Th 9:00 - 17:00
Fr 9:00 - 18:00
Sa Closed
Su Closed

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  • Commercial & Savings Banks

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