c. 1400, "action of establishing or founding (a system of government, a religious order, etc.)," from Old French institucion "foundation; thing established" (12c.), from Latin institutionem (nominative institutio) "a disposition, arrangement; instruction, education," noun of state from institutus (see institute (v.)).
Meaning "established law or practice" is from 1550s. Meaning "establishment or organization for the promotion of some charity" is from 1707. Jocular or colloquial use for "anything that's been around a long time" is from 1837.
"to put into institutional life" (usually deprecatory), 1897; see institution. Earlier (1860) it meant "to make into an institution" and "to adjust to life in an institution" (1893). Related: Institutionalized.
"financial institution," late 15c., originally "money-dealer's counter or shop," from Old Italian banca and also from French banque (itself from the Italian word), both meaning "table," from a Germanic source (such as Old High German bank "bench, moneylender's table"), from Proto-Germanic *bankiz- "shelf," *bankon- (see bank (n.2)). The etymological notion is of the moneylender's exchange table.
As "institution for receiving and lending money" from 1620s. In games of chance, "the sum of money held by the proprietor or one who plays against the rest," by 1720. Bank holiday is from 1871, though the tradition is as old as the Bank of England. To cry all the way to the bank was coined 1956 by U.S. pianist Liberace, after a Madison Square Garden concert that was panned by critics but packed with patrons.
"financial support (especially for medical expenses) to which one is entitled through employment or membership," 1895, plural of benefit (n.).