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The Hanover Insurance Group was established in 1852 near Hanover Square in Manhattan in New York City.It paid a cash dividend to shareholders every year since 1853. [2]Though remaining a relatively small company over the next 125 years, Hanover's common stock price multiplied between 1971 and 1983 by over 23 times from its low point in the decade to its eventual peak.
Manufacturers Hanover Corporation was an American bank holding company that was formed as parent of Manufacturers Hanover Trust Company (MHT or, informally, Manny Hanny), a large New York City bank formed through a merger in 1961 with ancestor companies, especially the Manufacturers Trust Company, having had a long history in New York banking going back to the 1850s.
In 1983, the bank sold its stock transfer agent business to Harris Bancorp. [32] Texas Commerce Bank , acquired by Chemical in 1986 in the largest interstate banking merger at that time In December 1986, the bank agreed to acquire Texas Commerce Bank for $1.1 billion in the largest interstate banking merger in U.S. history to that time; the ...
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Manufacturers Hanover merged with Chemical Bank in 1991, [87] and Chemical Bank gained ownership of the underlying land from Mutual Life the following February. [42] A sloped partition made of aluminum and glass was installed between the first and second floors in 1993. [66]
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