COMPANYHISTORIES
SIC 8100

Financial Services Industry

How the companies in this industry began, and the forces that shaped them.

2companies1858–1971founding years1still active1no longer operating
§ 01

The industry over time

Companies foundedEconomyTechnologyEnvironmentHistory
FoundedFirst Hawaiian, Inc.
1858
1873
EconomyThe Panic of 1873 triggers a global depression.
1893
EconomyThe Panic of 1893 pulls down banks and overbuilt railroads.
1903
TechnologyThe Wright brothers achieve powered flight.
1914
EconomyWorld War I begins; global trade reorders.
1929
EconomyThe stock market crashes; the Great Depression spreads worldwide.
1939
EconomyWorld War II begins; wartime production surges.
1945
EconomyThe war ends; a long global expansion begins.
1947
TechnologyThe transistor is invented.
1958
TechnologyThe integrated circuit is demonstrated.
1962
EnvironmentSilent Spring launches the modern environmental movement.
FoundedFirst Commerce Corporation
1971
EconomyThe dollar leaves the gold standard; currencies float.
1975
TechnologyThe personal-computer era begins.
1981
TechnologyThe IBM PC launches and sets a standard.
1984
TechnologyApple ships the Macintosh; the GUI era begins.
1987
EconomyBlack Monday: markets fall sharply around the world.
1989
HistoryThe Berlin Wall falls; global markets open up.
1991
TechnologyThe World Wide Web is released to the public.
1993
TechnologyThe Mosaic browser brings the web to everyone.
1995
TechnologyWindows 95 launches; the internet goes mainstream.
1997
EconomyThe Asian financial crisis rattles global markets.
EnvironmentThe Kyoto Protocol sets the first climate targets.
2004
TechnologySocial media and Web 2.0 take hold.
2007
TechnologyThe iPhone launches the smartphone era.
2008
EconomyThe global financial crisis freezes credit worldwide.
2010
TechnologyCloud computing goes mainstream for business.
2015
EnvironmentThe Paris Agreement sets global climate targets.
2020
EconomyThe COVID-19 pandemic upends the global economy.
2022
EconomyInflation spikes; central banks raise rates sharply.
2023
TechnologyGenerative AI reaches mainstream business use.
§ 02

The companies

First Hawaiian, Inc. →
Active · founded 1858
With assets of $7.3 billion in 1994, First Hawaiian, Inc., is the second largest bank holding company in Hawaii.
First Commerce Corporation →
Defunct · founded 1971
With $6.7 billion in assets in 1993, First Commerce Corporation was the largest multibank holding company in Louisiana.
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