Crocker National Bank
| Company type | Public |
|---|---|
| Industry | Banking, Financial services |
| Founder | William Henry Crocker (ownership secured by Charles Crocker) |
| Defunct | 1986 |
| Fate | Acquired and integrated into Wells Fargo Bank |
| Headquarters | San Francisco , United States |
| Products | Banking services, Automated teller machines |
| Parent | Midland Bank (from 1981 until acquisition by Wells Fargo) |
Crocker National Bank was an American financial institution headquartered in San Francisco, which was eventually acquired and integrated into Wells Fargo Bank in 1986.
History
The bank's roots trace back to San Francisco's Woolworth National Bank. Control passed to Charles Crocker, one of The Big Four instrumental in the Central Pacific Railroad, who secured ownership for his son, William Henry Crocker. The institution underwent a name change to Crocker Woolworth National Bank before becoming known simply as Crocker National Bank.
In 1925, a merger with the First National Bank of San Francisco—originally founded by James D. Phelan—led to the formation of Crocker First National Bank.
The year 1956 saw another consolidation when Crocker First National combined with Anglo California National Bank, established by Herbert Fleishhacker, resulting in Crocker-Anglo Bank. Subsequently, a 1963 merger with Citizens National Bank from Los Angeles produced Crocker-Citizens Bank, which was later abbreviated to Crocker Bank.
During 1970, advertising professional Hal Riney commissioned the song "We've Only Just Begun" for a Crocker commercial aimed at attracting younger clientele. Composed by Paul Williams and Roger Nichols and performed by Williams himself, the advertisement emphasized themes of new beginnings without explicitly mentioning banking services to appeal broadly. Despite its popularity, the campaign mainly drew young adults who lacked sufficient collateral for loans, prompting its suspension and eventual licensing to other financial institutions.
Throughout the 1970s and early 1980s, Crocker prioritized enhanced customer service and convenience by extending operational hours and offering promotional items such as teddy bears named "Sunny" and plush dogs called "Crocker" Spaniels. Notably, it was among the pioneering banks in California to introduce automated teller machine technology, which was promoted through commercials featuring a confident young businessman alongside a hesitant elderly woman utilizing the ATM.
On April 21, 1975, a branch located in the Sacramento area was targeted in a robbery executed by members of the Symbionese Liberation Army. During this incident, SLA member Emily Harris unintentionally caused the death of customer Myrna Opsahl.
In 1981, British banking giant Midland Bank took ownership of Crocker National Bank. After experiencing financial setbacks, Midland divested the bank to Wells Fargo in 1986. This acquisition led to extensive executive layoffs, including the executive vice president and approximately two-thirds of the top seventy executives.
In popular culture
Scott Adams spent part of his early business career working at Crocker National Bank’s San Francisco office between 1979 and 1986. His experiences there influenced his creation of the Dilbert comic strip.