Current Events

Thanks to Citizens Bank's gift of its former Empire Street branch building, Trinity Rep is creating a new first-class theater. Trinity will gain an additional stage for its productions and those of sister Rhode Island arts organizations and new work from the Brown University/Trinity Rep graduate programs.

With flexible audience seating for up to 350, the Pell Chafee Performance Center will offer advanced technical capabilities, a "satellite" box office, and comfortable amenities for audience and performers, fully accessible and ADA-compliant.

After a bad fiscal year, Trinity is looking to trim costs for the new Pell Chafee complex. The 350-seat performance space, was due to open in the fall of 2004. They are now considering alternative designs so that the project can be completed with money already in hand, about $4.6 million, instead of the $6.9 million for the original proposal. The project may also be spread out over a longer period of time.

Building History

Mark McKenna The Empire Street branch of Citizens was originally an Old Stone Bank. The 1819 refers to the founding of the Providence Institution of Savings, which later turned into Old Stone. The 1929 should refer to the date this branch was constructed.

Citizens’ History

In 1828, the High Street Bank opened its doors in Hoyle Square. Named after the very popular Hoyle Tavern, the Square was at that time the liveliest intersection of the city for travelers coming to Providence from nearby farms and manufacturing towns. In 1871, the directors of High Street Bank obtained a second charter from the Rhode Island legislature and established Citizens Savings Bank, a mutual savings bank. At the end of its first 50 years, Citizens Savings Bank constructed a new building to serve as its headquarters. Built on the site of the famous Hoyle Tavern, which was torn down in 1890, the building remains a busy Citizens Bank branch today.

With the Depression of the 1930s came hard times for New England’s businesses and residents. Rhode Island suffered from the continuing decline of its textile industry. Banks everywhere, including High Street Bank and Citizens Savings Bank, faced financial challenges brought on by increased defaulted mortgages and foreclosures. In 1947, the High Street Bank left its original offices and moved into the Citizens Savings Bank building and the following year changed its name to Citizens Trust Company. When Citizens Savings Bank became a member of the FDIC in 1950, it was the first mutual savings bank to do so.

In 1990, Citizens Bank completed the construction of One Citizens Plaza, its 13-story corporate headquarters in downtown Providence at the confluence of the Moshassuck and Woonasquatucket Rivers. After acquiring Newport Bank, Citizens Bank's downtown Newport office on Washington Square in historic Gardner House, built in 1740, became the nation's oldest banking office in continuous use today.

Anecdotes

Faye Sanders Mar 19, 2008 In the second photo there is a painting that is thought to actually be part of a set. The other paintings were rumored to have been given to the Hope Club by an Old Stone Bank Executive (and member of the Hope Club) before Citizens acquired the building from the Resolution Trust Company after the closing of Old Stone Bank.

katharine  I think my great grandfather worked here, Charles Post.

Add your Anecdotes

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