Complex sentence: In 1816 Raguet read about the growth of savings banks in Great Britain and liked the idea; he approached other Philadelphia business associates and together they created the Society, the first savings bank in the United States.
Split into simpler sentences: In 1816 Raguet had read about the growth of savings banks in Great Britain and liked the idea. He approached other Philadelphia business associates and together created the Society, the first savings bank in the United States.