Jarmulowsky Bank: His Own Bank
The Jarmulowsky Bank was started in 1873 by a German immigrant Alexander (Sendor) Jarmulowsky. In 1911, an impressive 12-story structure was built at the original site on Orchard Street.
When World War I broke out, there was a run on the bank. When the bank was unable to pay the depositors, the government closed down the bank. The name of the bank is still engraved over the entrance to the building, now used for commercial purposes.
Jarmulowsky Bank building on the Lower East Side
Photo copyright Jeffrey Altman. All rights reserved.