[citation needed] In the early 1820s, Brooklyn was the 16th largest inhabited place in the United States[citation needed]; however, Brooklyn had no bank and no insurance company.
[citation needed] The initial capital of the bank was $300,000 in $50 shares.
Bank notes were issued from 3 August 1824.
[1][2] Its offices were at 7 Front Street in Brooklyn.
[3] In 1877 Judge Landon of Schenectedy instructed the Long Island Savings Bank trustees to wind up the affairs of the bank, with payments to start December 14, 1877.