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May 24, 2015 5:21 AM ET


Company Overview of Discover Bank

Company Overview

Discover Bank provides banking services. It offers online savings accounts, money market and certificate of deposits accounts, individual retirement account CD accounts, credit cards, and college and graduate school loans. Discover Bank was formerly known as Greenwood Trust Company and changed its name to Discover Bank in August 2000. The bank was founded in 1911 and is based in Greenwood, Delaware. Discover Bank operates as a subsidiary of Discover Financial Services.

502 East Market Street

Greenwood, DE 19950

United States

Founded in 1911





Key Executives for Discover Bank

Chairman and Chief Executive Officer
Age: 53
President and Director
Age: 56
Chief Financial Officer, Vice President and Assistant Treasurer
Chief Operating Officer
Age: 49
Executive Vice President, Secretary and General Counsel
Age: 54
Compensation as of Fiscal Year 2014.

Discover Bank Key Developments

Discover Bank Issues $400 Million of Notes

Discover Bank on March 13 issued and sold $400 million of its 4.250% notes due March 13, 2026. The notes are direct, unconditional and unsecured general obligations of Discover Bank and rank pari passu among themselves and all other unsecured and unsubordinated indebtedness of Discover Bank, except deposit liabilities and other obligations that are entitled to any priorities or preferences. The notes will bear interest from March 13 until the principal of the notes has been paid in full or a sum sufficient to pay the principal of the notes has been made available for payment. Interest on the notes will be payable semiannually in arrears on March 13 and Sept. 13 of each year, starting Sept. 13. Payments will include interest accrued to, but excluding, the relevant interest payment date. Interest on the notes will be calculated on the basis of a 360-day year of 12 30-day months.

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