THE BIOGRAPHY OF CHICAGOS MARINA CITY
Written by Steven Dahlman
Banking on Marina City
The teller windows were at least a year away from being built, but on August 3, 1962, it was learned there were plans for a bank at Marina City. Jacob M. Arvey, chairman of the bank, William Fuller Gregson, president, Patrick H. Hoy, vice president, along with Theodore K. Lawless, R. S. Holsom, and Thomas F. Flannery, would start Marina City Bank with $2 million in capital.
Arvey (1895-1977) was senior partner in the Chicago law firm of Arvey, Hodes & Mantynband (now known as Arvey, Hodes, Costello & Burman). He was Chairman of the Cook County Democratic Central Committee from 1946 to 1950, and Democratic National Committeeman from Illinois from 1950 to 1972. 175 pages of correspondence between him and President Truman are kept at the Harry S Truman Library and Museum.
Theodore K. Lawless (1892-1971) was a noted dermatologist and philanthropist.
The Illinois Department of Financial Institutions announced on October 29, 1962 that a charter had been issued to Marina City Bank. In June 1963, some familiar names were added to the banks board of directors. Elected at a special shareholders meeting were William McFetridge and Charles Swibel.
Among the banks 13 directors were John H. Johnson, publisher and editor of Ebony magazine, Raymond Shoessling, president of Teamsters Joint Council Number 25, and Thomas F. Flannery Jr., president of Whitney Electric Sign and Maintenance Company.
On Friday, September 10, 1964, James Douglas Bell, age 30, walked up to a teller at Marina City Bank and demanded money. Bell did not appear to have a weapon and the teller refused. The would-be robber fled but was soon caught by the banks chief guard, Maurice Walsh. Bell was arraigned on federal charges later that same day.
|Last updated 12-Dec-11||