Provident Savings Bank

Provident Savings Bank (HM403)

Location: Baltimore, MD 21201
Buy Maryland State flags at Flagstore.com!
Country: United States of America
Buy United States of America flags at Flagstore.com!

N 39° 17.565', W 76° 37.188'

  • 0 likes
  • 0 check ins
  • 0 favorites
  • 945 views
Inscription
This imposing building, appropriately designed by Joseph Evans Sperry to suggest an old treasure chest, is the home of Provident Savings bank, the father of branch banking among mutual savings banks of the nation. Incorporated in 1886 with the exalted purpose of "cultivating habits of thrift and prudence among the wage-earning classes," the bank opened six branches throughout the city that year, at locations convenient to the working person.

The idea of branch banking, however, was the brainchild of John Marshall, a Portuguese ex-sailor who worked as a janitor at the Friends Gospel Mission in South Baltimore. In 1884 he suggested to the managers of the Mission that the men who frequented the Mission's Reading Room be encouraged to deposit small amounts of money with the manager on Saturday evenings. The manager, in turn, would deposit the total in a local savings bank on Monday morning. The first evening $11.55 was collected and the system continued until 1886 when the Maryland General Assembly granted Provident its charter.

The building, which now houses the central office, was built in 1904 on the site of the old Saratoga Hotel. The interior, once a lofty space with an 83-foot-high ceiling, has been filled over the years with three additional floors to accommodate the bank's growth. Provident now has over 30 branches, including the six original ones.
Details
HM NumberHM403
Series This marker is part of the Maryland: Baltimore City Historical Markers series
Tags
Placed ByThe City of Baltimore, Provident Savings Bank, sponsor and William Donald Schaefer, mayor
Marker ConditionNo reports yet
Date Added Thursday, October 23rd, 2014 at 6:00pm PDT -07:00
Pictures
Sorry, but we don't have a picture of this historical marker yet. If you have a picture, please share it with us. It's simple to do. 1) Become a member. 2) Adopt this historical marker listing. 3) Upload the picture.
Locationbig map
UTM (WGS84 Datum)18S E 360314 N 4350514
Decimal Degrees39.29275000, -76.61980000
Degrees and Decimal MinutesN 39° 17.565', W 76° 37.188'
Degrees, Minutes and Seconds39° 17' 33.90" N, 76° 37' 11.28" W
Driving DirectionsGoogle Maps
Area Code(s)410, 443, 301
Closest Postal AddressAt or near 240 N Howard St, Baltimore MD 21201, US
Alternative Maps Google Maps, MapQuest, Bing Maps, Yahoo Maps, MSR Maps, OpenCycleMap, MyTopo Maps, OpenStreetMap

Is this marker missing? Are the coordinates wrong? Do you have additional information that you would like to share with us? If so, check in.

Check Ins  check in   |    all

Have you seen this marker? If so, check in and tell us about it.

Comments 0 comments

Maintenance Issues
  1. What historical period does the marker represent?
  2. What historical place does the marker represent?
  3. What type of marker is it?
  4. What class is the marker?
  5. What style is the marker?
  6. Does the marker have a number?
  7. What year was the marker erected?
  8. This marker needs at least one picture.
  9. Can this marker be seen from the road?
  10. Is the marker in the median?