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The Rhode Island Hospital Trust was a banking institution founded in 1867 to manage the financial affairs of Rhode Island Hospital, founded in 1863. [2] Over time it grew to become a significant local commercial bank, and was acquired by Bank of Boston in 1985. In 2005, the Rhode Island School of Design purchased the building for $47 Million. [3]
A home becomes a bank-owned property after the homeowner defaults on their mortgage and the bank forecloses. Bank-owned properties may also be referred to as real estate owned or REO homes, REO ...
One Financial Plaza, also known as the Sovereign Bank Tower and formerly known as the Hospital Trust Tower, [1] is an international-style skyscraper that stands along Kennedy Plaza in Downtown Providence, Rhode Island. The building is the second-tallest in the city and state, surpassed in height only by the Industrial National Bank Building.
The bank was renamed the Bank of America Loan and Trust Company in 1890 and the Union Trust Company in 1894. In 1900 Perry succeeded Hayward as president, and in 1901 he inaugurated the bank's new building. Perry was a monopolist and rapidly consolidated several other Providence banks into his own.
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The latest update (2007) was tenant Bank of America's new fire suppression systems, which cost $7 million. [18] In 2011, media reports speculated [19] that Bank of America, the building's last tenant, would move out at the end of its ten-year lease; which eventually led to the bank's 2012 announcement that it would vacate the space the coming ...
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