Security Trust Company of Rochester
| Company type | Private |
|---|---|
| Industry | Banking |
| Founded | 1892 |
| Fate | Acquired by Norstar Bank in 1983; name retired in 1987 after merger |
| Successor | Security Norstar Bank (later part of FleetBoston Financial and then Bank of America) |
| Headquarters | Rochester , United States |
Key people | Hiram W. Sibley (first president), Erland E. "Erkie" Kailbourne (president in 1981) |
Security Trust Company of Rochester operated as a bank based in Rochester, New York. In 1983, Norstar Bank acquired the institution, which later integrated into FleetBoston Financial and eventually became part of Bank of America.
The bank was responsible for managing trusts of notable Rochester residents, such as George Eastman, the founder of Kodak.
History
Established in 1892, the bank's inaugural president was Hiram W. Sibley, who was the son of Hiram Sibley, one of the founders of Western Union.
In 1981, Erland E. "Erkie" Kailbourne took over as president. That same year, a fatal event occurred at one of its branches.
By the end of 1983, Norstar Bancorp had acquired Security Trust, renaming it Security Norstar Bank. The "Security" name was retired in 1987 when it fully merged into Norstar.
The original headquarters building was razed to make way for the Rochester Riverside Convention Center. The second headquarters, recognized for its mid-century modern architecture and distinctive crenelated roof, currently functions as a Bank of America branch downtown, with its penthouse utilized for corporate gatherings.