Baltimore, Maryland — The American Northeast (Mid-Atlantic)
Provident Savings Bank
The idea of branch banking, however, was the brainchild of John Marshall, a Portuguese ex-sailor who worked as a janitor at the Friends Gospel Mission in South Baltimore. In 1884 he suggested to the managers of the Mission that the men who frequented the Mission's Reading Room be encouraged to deposit small amounts of money with the manager on Saturday evenings. The manager, in turn, would deposit the total in a local savings bank on Monday morning. The first evening $11.55 was collected and the system continued until 1886 when the Maryland General Assembly granted Provident its charter.
The building, which now houses the central office, was built in 1904 on the site of the old Saratoga Hotel. The interior, once a lofty space with an 83-foot-high ceiling, has been filled over the years with three additional floors to accommodate the bank's growth. Provident now has over 30 branches,
Erected by the City of Baltimore, Provident Savings Bank, sponsor and William Donald Schaefer, mayor.
Marker series. This marker is included in the Maryland, Baltimore City historical markers marker series.
Location. 39° 17.565′ N, 76° 37.188′ W. Marker is in Baltimore, Maryland. Marker is at the intersection of North Howard Street and West Saratoga Street, on the left when traveling north on North Howard Street. Click for map. Marker is in this post office area: Baltimore MD 21201, United States of America.
Other nearby markers. At least 8 other markers are within walking distance of this marker. Beehler Umbrella Factory (about 600 feet away, measured in a direct line); G. Krug & Son (about 600 feet away); Rectory of Old St. Paulís Parish (approx. 0.2 miles away); To Commemorate the Inauguration of a Chemical Industry in America (approx. 0.2 miles away); Enoch Pratt Free Library (approx. 0.2 miles away); John H. B. Latrobe House (approx. 0.2 miles away); Basilica of the Assumption of the Blessed Virgin Mary (approx. 0.2 miles away); Expanding the American Intellect: Icons and Iconoclasts (approx. 0.2 miles away). Click for a list of all markers in Baltimore.
More about this marker. The marker features three images: of the Light Street Friends Gospel Mission, of the original interior, and of the Saratoga Hotel.
Regarding Provident Savings Bank. The location is no longer a bank.
Categories. • Industry & Commerce • Notable Buildings •
Credits. This page originally submitted on , by Christopher Busta-Peck of Shaker Heights, Ohio. This page has been viewed 1,516 times since then and 59 times this year. Photos: 1, 2. submitted on , by Christopher Busta-Peck of Shaker Heights, Ohio. This page was last revised on June 16, 2016.