History and architecture
The monumental Beaux-Arts style building at the southwest corner of the Bowery and Canal Street was designed in 1922 by the respected architect Clarence W. Brazer (1880-1956) for the Citizens Savings Bank and completed in 1924. Chartered by the State of New York in 1860 to provide banking services to the small depositor, the Citizens Savings Bank moved to this location in 1862. The bank’s business increased throughout the 19th century and by the 1920s bank officials determined that a larger building was required. During a two year period, construction took place “under, around and over the existing building” to avoid disrupting daily operations of the bank.
The Citizens Savings Bank is a fine example of the Beaux-Arts style bank building of the late 19th and early 20th century. Brazer’s restrained interpretation of classical precedents conveyed a sense of financial strength and stability while not overwhelming the bank’s depositors. Four monumental arched windows (one now infilled) provided natural light to the banking room. The street facades have Renaissance- inspired rusticated bases above which the windows are enframed by paired pilasters supporting an entablature in the Roman Doric order.
Above the banking room an octagonal clerestory surmounted by the bank’s signature dome (reroofed in aluminum) denotes the transition from public to private space. To further identify the building and its purpose, the cornice of the Bowery facade is adorned with stone sculptures by Charles Keck that were drawn from elements found in the Citizens Savings Bank seal. The central grouping, a wreathed clock with an eagle and seated figures of a Native American and a sailor, and beehives, the traditional symbols of thrift, were intended to be easily visible to commuters on the Third Avenue El (now demolished) and travelers on the Manhattan Bridge.
Due to its prominent location, height, massing, and design, the Citizens Savings Bank, now a branch of HSBC, remains a visual anchor for commuters and the surrounding community.
Sources and further reading
This history comes from the Landmarks app’s historical catalog. Names and building uses may reflect the period described.