- Category: Widget
- Published: Monday, 19 October 2015 13:22
- Written by Isaac
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Staten Island Commercial Bank Glimpses at Birth of Department Stores in U.S.
Nowadays most of us view the existence of department stores as the norm – both on and off the Internet. But there was a time they weren’t around. Victory State Bank, Staten Island’s only community-based business bank, is pointing to the period when brick and mortar department stores were first introduced in America.
According to the U.S. Census Bureau, the first full-line department store in the United States was organized on Oct. 16, 1868 in Salt Lake City. Called "Zion's Cooperative Mercantile Institution," it opened the following year.
The idea of the department store soon spread around the country. They were hailed for the convenience such retail powerhouses offered consumers, and became points of civic pride.
The era of the classic, high-rise downtown department store has been eclipsed, but modern equivalents — usually one or two stories high and located in suburban malls — are still major players in the retail scene.
About Victory State Bank
VSB Bancorp, Inc. (OTCQX: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island: The main office in the community of Great Kills, and branches in the communities of West Brighton, St. George, Dongan Hills and Rosebank. For additional information, Victory State Bank may be reached at 718-979-1100 or visited online at www.VictoryStateBank.com.