The Beaux Arts building at 220 Main Street in Danbury, one of a row of three bank buildings, was erected in 1908-1909 as the headquarters of the Savings Bank of Danbury. It was designed by Danbury architect Philip Sunderland. The origin of the bank, which was founded by George White Ives, the grandfather of composer Charles Ives, is described in James Montgomery Bailey’s History of Danbury (1896):
Nearly a half century ago, when Danbury had no electric lights, no pavements, no street railway, but was a pretty town with grand old trees and beautiful gardens, one of her venerated citizens, Horace Bull, suggested to George W. Ives that a savings bank would be a blessing to many of the town people. To one so keenly alive to the interests of Danbury and of his fellow-citizens the suggestion had but to be made to be acted upon, and the Savings Bank of Danbury, chartered in 1849, commenced business on June 29th of that year [. . . .]
Notice was duly given that deposits would be received at the house of the Treasurer from 2 P.m. to 5 P.m. on Saturday of each week.
The old Ives homestead, so well known and so full of pleasant memories, thus became the cradle of the first savings bank. A desk in the dining-room was the safe, and in the absence of the Treasurer Mrs. Ives received deposits and attended to the business of the bank. After a time it seemed necessary to have a building and a safe, and Mr. Ives built at his own expense the little building, still standing in the corner of the dooryard of his old homestead, and the savings bank had a “habitation” as well as a “name.” From this small beginning the assets of the bank have increased to the sum of $2,869,922 on March 30th, 1895.
