Yamagata Bank

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The Yamagata Bank, Ltd
Type Public (TYO: 8344)
Industry Financial services
Founded April 14, 1896
Headquarters Yamagata, Yamagata, Japan
Area served Tōhoku region
Website http://www.yamagatabank.co.jp/
Yamagata Bank's Main Office (December 2005)

The Yamagata Bank, Ltd. (株式会社山形銀行 Kabushiki-gaisha Yamagata Ginkō?) (TYO: 8344) is a Japanese bank that is based out of Yamagata city, Yamagata prefecture. Most of the bank’s branches are in Yamagata prefecture, or other major cities in the Tohoku region, with a branch in Tokyo as well. The principal shareholders as of March 2005 were The Bank of Tokyo-Mitsubishi, Ltd. and Meiji Yasuda Life Insurance Company.

Profile[edit]

As of March 31, 2005:

  • Assets: Approximately 1.6 trillion yen (approximately 14 billion USD)
  • Employees: 1,492
  • Branches: 83 (74 inside Yamagata prefecture)
  • President: Kichishige Hasegawa
  • Member: Regional Banks Association of Japan

History[edit]

Yamagata Bank can trace its origins to 1878, when The 81st National Bank was founded. In 1897, this bank was later absorbed by the Ryouu Bank, which was established one year earlier. The bank merged with numerous small financial institutions over the first half of the 20th century, and finally changed its name to its present form in 1965. In October 2005, Yamagata Bank, along with the Saitama Resona Bank, 82 Bank and Hokkoku Bank jointly injected funds into Allegro MicroSystems, an American subsidiary of Sanken Electric Co. Ltd., after Sanken purchased Minnesota-based semiconductor producer PolarFab.

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