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History

History

Bank Leumi began in New York in 1954 with the opening of a representative office of Bank Leumi le-Israel at 60 Wall Street.

 

In 1968 First Israel Bank and Trust Company of New York was formed and in 1969 the bank opened an additional branch at 1412 Broadway, and one in 1971 at 579 Fifth Avenue that continues as the main branch today.

 

The 1970’s
In March 1973 the bank changed its name to Bank Leumi Trust Company of New York. At the time, the bank had three branches at 579 Fifth Avenue, 1412 Broadway, and 111 Broadway.


In 1974 the Trust Company opened a branch in Forest Hills and a foreign exchange facility at the El Al Terminal at Kennedy Airport, while a year later Bank Leumi le-Israel opened a branch in Chicago followed by one in Beverly Hills, California.
 

The Trust Company continued to expand and in 1976 it acquired five branches from American Bank & Trust Company. The bank now had branches in Manhattan, Brooklyn, Queens, and the Bronx. The following year it expanded to Long Island by opening a branch in Hewlett while Bank Leumi le-Israel continued its U.S. expansion by opening an office in Philadelphia and upgrading the Miami representative office to full agency status in 1978.

 

By 1978 Bank Leumi Trust Company of New York had ten branches, a representative office in Toronto, Canada and two offshore branches in the Bahamas and Cayman Islands.
 

The 1980’s
The size of the bank greatly increased with the acquisition of thirteen branches from Bankers Trust Company in 1980.


With the opening of the Plainview branch in 1981 the bank had 25 branches in metropolitan New York, as well as the representative office in Canada and the two offshore entities. A new subsidiary, BLT Leasing Corporation, was launched and an International Banking Facility established.


Bank Leumi le-Israel opened a retail branch office in Los Angeles in Encino and upgraded the Beverly Hills office to a full-service bank. The Trust Company purchased 139 Centre Street.
 

In 1983 the Trust Company opened a representative office in Montreal, Canada and in 1986 a branch in Westchester County in White Plains and a Loan Production Office in New Jersey.
 

The 1990’s
In the early 1990’s the bank went through a major reorganization, moving to a concentration in international, commercial middle market, and private banking. All retail branches were eventually sold.
 

By 1997 the bank had two branches remaining in New York at 579 Fifth Avenue and 1400 Broadway and Bank Leumi Trust Company of New York became Bank Leumi USA, absorbing the Chicago, Beverly Hills, and Encino branches of Bank Leumi le-Israel.
 

The 21st Century
In 2001 the bank established Leumi Investment Services, a brokerage subsidiary, and opened a branch in Silicon Valley in San Jose, California to serve high technology customers.
 

In March 2002 Bank Leumi USA purchased the insured deposits of the former Net 1st National Bank in Boca Raton, Florida and in July 2002 Bank Leumi le-Israel Miami Agency became part of the Bank Leumi USA family.

 

In 2003 Bank Leumi USA opened an additional branch in Aventura, Florida and one in downtown Los Angeles. The San Jose branch moved to Palo Alto.

 

In 2004 Dr. Zalman Segal retired in November after fifteen years as chief executive officer of Bank Leumi USA and Mr. Uzi Rosen assumed that role. 

 

In 2005, Bank Leumi USA opened a branch in Highland Park, Illinois.

 

In 2010, Mr. Uzi Rosen retired as President and Chief Executive Officer and Mr. Itzhak Eyal assumed that role.

 

In 2013, Mr. Itzhak Eyal retired after three years as President and Chief Executive Officer of Bank Leumi USA and a 38 year career with the Leumi Group, .  Mr. Avner Mendelson assumed the role of President and Chief Executive Officer of Bank Leumi USA.

 

Click to view our Timeline of Milestones.

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