by Bhavesh Jinadra by CNB
Roanoke Times Copyright (c) 1995, Landmark Communications, Inc. DATE: TUESDAY, April 6, 1993 TAG: 9304060069 SECTION: BUSINESS PAGE: B4 EDITION: METRO SOURCE: DATELINE: NEW YORK LENGTH: Short
MANNY HANNY'S GONE; NEW CHEMICAL LIVES ON
To the strains of a brass band, Chemical Banking Corp. on Monday officially buried the name of its merger partner and former rival, Manufacturers Hanover Trust Co.The retirement of the "Manny Hanny" name was the last phase of what is generally regarded as a successful bank merger. Manufacturers Hanover joins the names of other once-mighty banks that have been shed as the industry consolidates: NCNB Corp., C&S-Sovran Corp. and Security Pacific Bank.
The new Chemical, the nation's third-largest banking company, is a leader in loan syndication and lending to so-called middle-market businesses. It raised $1.52 billion in a new stock offering last year.
The origin of the Manny Hanny name is rich with history. Hanover Bank began business on April 10, 1851, in a small square near Wall Street, bank records show.
Manufacturers' roots go back to 1812 with the founding of New York Manufacturing Co., which had banking powers as part of its charter. - Associated Press