# Emigrant Bank

> Emigrant Bank is a privately held, Milstein family-owned bank with roots in an 1850 New York savings institution founded by the Irish Emigrant Society. Now Miami-based, it combines personal and business banking, online savings divisions, residential and commercial lending, and a network of specialist finance, investment, trust, and family-office businesses.

- **Founded:** 1850
- **Headquarters:** Miami, United States
- **Founders:** Irish Emigrant Society (Founding organization), Gregory Dillon (Founding leader and first president)
- **Products:** Personal and business banking, EmigrantDirect, DollarSavingsDirect, Emigrant Mortgage, Emigrant Funding Corporation
- **Notable:** Institutional heritage dating to September 30, 1850., Early financing supported St. Patrick’s Cathedral and the project that became Central Park., Built internet deposit divisions alongside specialist lending businesses.

## Products & services

- **Personal and business banking** — Checking, savings, CDs, IRAs, debit cards, foreign currency, and business banking services.
- **EmigrantDirect** — Internet banking division offering the American Dream Savings Account and CDs; savings disclosure states a $1 initial deposit and no minimum-balance fees.
- **DollarSavingsDirect** — Online savings and CDs; savings account advertised without fees or minimum balances and linked to an existing checking account.
- **Emigrant Mortgage** — Residential mortgage lending including niche, jumbo, super-jumbo, condominium, cooperative, and agency programs.
- **Emigrant Funding Corporation** — Commercial real-estate and small-balance lending, including multifamily and mixed-use property financing.
- **Emigrant Bank Fine Art** — Art and collectible financing, advisory, and appraisal; advertised loan solutions from $2 million to over $100 million and terms up to 15 years.
- **Emigrant Capital** — Private investments directly from the bank balance sheet; current published criteria include $5 million-$30 million investments.
- **Emigrant Partners** — Capital and strategic support for independent wealth and asset management firms.
- **New York Private Bank & Trust** — Private banking, investment advisory, and trust-related services for wealthy clients and institutions.
- **Emigrant Family Office** — Non-investment services including financial reporting, cash management, family governance, and coordination with tax, trust, and estate advisors.

## Achievements

- Institutional heritage dating to September 30, 1850.
- Early financing supported St. Patrick’s Cathedral and the project that became Central Park.
- Built internet deposit divisions alongside specialist lending businesses.
- Emigrant Partners currently reports 19 partner firms and over $100 billion in partner-firm assets.
- Awarded five $10,000 small-business grants through the 2026 FHLBNY program.

## Latest updates

- **2026-08** — Announced $50,000 in small-business grants distributed among five New York-area recipients.
- **2026-05** — Appointed Tyler Kelley managing director to support strategic growth and family-office expansion.
- **2026-03** — Emigrant Bancorp announced an agreement to acquire a majority interest in Fortis and launched Emigrant Family Office.
- **2025-10** — Official locations page states Manhattan branch relocated to 333 Madison Avenue effective October 27, 2025.
- **2025-02** — Second Circuit affirmed the judgment in Saint-Jean v. Emigrant Mortgage Company involving racial discrimination in historical mortgage lending.

## Links

- Website: https://www.emigrant.com/
- LinkedIn: https://www.linkedin.com/company/emigrant-bank/

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Profile page: https://yespress.io/emigrant-bank
Published by YesPress — https://yespress.io
Last updated: 2026-10-25