- Old Stone Bank
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- For the historic site in Shepherdsville, Kentucky that also went by "Old Stone Bank", see Bank of the Commonwealth (Kentucky).
Old Stone Bank was a popular Rhode Island banking institution. Founded as a mutual savings bank, the Providence Institution for Savings, in 1819,[1] it collapsed in the 1980s after the federal government convinced it to take over two failed savings and loan institutions, but reneged on its promise that it would not hurt the bank to do so. In 1992, Old Stone filed a lawsuit against the government alleging breach of contract. They were awarded $192 million in 2004, but an appeals court reduced the award to 74.5 million, and the Supreme Court declined to hear a further appeal.[2]
Its mascot was Fred Flintstone, who would say in commercials "Yabba-dabba-doo, love that Old Stone Bank!"[3]
The bank's ATMs were called "Ready Freddy".[4]
References
- ^ "Library Catalog Search". Rhode Island Historical Society. http://isis.minisisinc.com/scripts/minisa.dll/3/1/6/2129?RECORD. Retrieved 2008-07-12.
- ^ Downing, Neil (2007-03-25). "Old Stone: Who gets what?". Moneyline (The Providence Journal). http://www.projo.com/business/moneyline/BZ_mon032507_03-25-07_HG4VVII.30db137.html. Retrieved 2008-07-12.
- ^ James, Caryn (May 27, 1994). "The Flintstones (movie) - Movie - Review". The New York Times. http://movies.nytimes.com/movie/review?res=9C04E5DE143BF934A15756C0A962958260.
- ^ http://www.macfilms.com/financial%20Services.htm
Categories:- Bank stubs
- Banks based in Rhode Island
- Banks established in 1819
- Companies disestablished in the 1980s
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