Subsidiary of HSBC Holdings plc
Industry Finance and Insurance
Founded 1850 (as Marine Midland Bank)
Headquarters 452 Fifth Avenue, New York City, New York, USA
Key people
Patrick Burke (Chairman, President, and CEO)
Products Financial Services
Number of employees
43,000 (including HSBC Finance Corporation)
Parent HSBC

HSBC Bank USA, National Association, is an American subsidiary of UK-based HSBC Holdings plc, is a bank with its operational head office in New York City and its nominal head office in McLean, Virginia (as designated on its charter). HSBC Bank USA, N.A. is a national bank chartered under the National Bank Act, and thus is regulated by the Office of the Comptroller of the Currency (OCC), a part of the U.S. Department of the Treasury.


The Hongkong and Shanghai Banking Corporation acquired a 51% shareholding in Marine Midland Bank of New York State, headquartered in Buffalo, New York, in 1980 and extended to full ownership in 1987. The banks continued to operate under the Marine Midland name until 1998, when the offices were rebranded as HSBC Bank USA in line with the worldwide corporate identity of HSBC.

HSBC USA headquarters in New York City on 452 Fifth Avenue.

In 1994, Marine Midland acquired Spectrum Home Mortgage, which operated in eight states. Then in 1995, Marine acquired United Northern Federal Savings Bank, with branches in Watertown and Lowville, New York. Marine Midland also acquired The Hongkong and Shanghai Banking Corporation's six New York City retail branches, and the next year Hang Seng Bank's two branches in New York City.

That same year, Marine Midland acquired 11 branches from the East River Savings Bank in the New York Metropolitan area. Marine also acquired the US dollar clearing business of JPMorgan. At the same time, HSBC transferred two branches in the northwestern United States to HSBC Bank Canada. The next year, Marine completed its acquisition of First Federal Savings and Loan from Toronto-based CT Financial Services, for $620 million. First Federal Savings, headquartered in Rochester, had $7.2 billion in assets, 1,600 employees, 79 retail branches in New York State and 15 mortgage origination offices in nine states.

In 1998, Marine Midland acquired First Commercial Bank of Philadelphia, which had been established in 1989 as the first-state chartered Asian-American bank in Pennsylvania. The bank served the local Asian community, which often faced language and cultural barriers at traditional American banks. Marine paid $23.75 million for First Commercial, which had $90 million in assets and $78 million in deposits in two branches.

After the acquisition of Republic National Bank in 1999, the head office of HSBC Bank USA moved from One HSBC Center in Buffalo to 452 Fifth Avenue, New York City, although the bank's charter lists the headquarters in Wilmington, Delaware.

In 2004, HSBC USA sold two upstate New York branches to Gloversville-based City National Bank & Trust Co.[1] HSBC did not have enough nearby branches to give it economies of scale.

On July 31, 2011, First Niagara Financial Group, headquartered in Buffalo, announced that it had purchased all HSBC's upstate New York branches for $1 billion.[2]

In December 2012, HSBC paid a record $1,900,000,000 fine for laundering in excess of $881,000,000 in drug cartel money and violating anti-terrorism sanctions.[3]

Historical Data

HSBC United States branch footprint prior to the divestiture of its Upstate New York branches. On the left, the US west coast, on the upper right, the eastern seaboard (New York state to Washington, D.C.), the lower right: Florida.


US banking

Prior to its deal with First Niagara, HSBC had approximately 400 branches throughout New York in addition to some 20 to 25 branches in other states, including Florida and California. There was a branch office on the ground floor of the World Trade Center in New York City.

HSBC Direct is HSBC's attempt to compete nationally with other Internet banks such as Citibank Direct, Emigrant Direct, Ally Bank and ING Direct (now is Capital One 360).

In 2010, HSBC was rated the worst in customer advocacy by Forrester Research, which asked bank customers to rank their banks. In the national survey of approximately 4,500 banking customers assessing the top 50 banks, in answer to the question: "My financial provider does what’s best for me, not just its own bottom line," HSBC set a new all-time low with a 16% rating, 10% below the previous year.[5]


Marine Midland owned several prominent properties, including the Marine Midland Building at 140 Broadway in Manhattan, near the World Trade Center. Completed in 1967, the 52-story rises tower rises 688 feet (210 m) with 1.2 million square feet (110,000 m²) of office space in lower Manhattan and is noted for the distinctive Red Cube sculpture by Isamu Noguchi at its entrance. One HSBC Center is the tallest building in Buffalo, and is noted for its open entry level, under which the Buffalo Metro Rail passes.

Also of note, Marine Midland had purchased naming rights to the Buffalo sports and entertainment venue constructed in 1996, the Marine Midland Arena, home of the Buffalo Sabres. Today, the venue is known as the KeyBank Center.


  1. "City National Bank to buy two HSBC branches". Albany Business Review. 20 April 2001. Retrieved 2015-02-18.
  2. Thompson, Carolyn (17 February 2012). "First Niagara expects May completion for HSBC deal". Yahoo! Finance. Retrieved 2015-02-18.
  3. Viswanatha, Aruna; Wolf, Brett (11 December 2012). "HSBC to pay $1.9 billion U.S. fine in money-laundering case". Reuters. Retrieved 2015-02-18.
  4. Money Economics Top 10 Banks Project
  5. Schultz, Jennifer Saranow (3 February 2010). "The Least-Trusted Banks in America". The New York Times. Retrieved 2015-02-18.
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