Riggs and Co.

In 1836 William Wilson Corcoran opens a note brokerage house; 1837 businessmen from New York and abroad, including former neighbor Elisha Riggs, shield the Corcoran brokerage house from collapse during the economic panic; 1840 Corcoran and George Washington Riggs, Elisha's son, form Corcoran & Riggs, a partnership that offers depository and checking services; 1844 The U.S. government selects Corcoran & Riggs as the sole federal depository in Washington; 1854 Corcoran retires and George Washington Riggs takes over the bank under its new name, Riggs & Co.; 1896 Riggs & Co. accepts a national banking charter and Riggs National Bank elects its first board, sells stock, and shifts its focus from specialized investment services to general banking services for a large clientele.