The Sheffield Savings Bank was formed in Sheffield Yorkshire in 1819. For much of its early years it was run conservatively, briefly experimenting with local branches in the 1850s. In the twentieth century, branches were reintroduced, both in the city and outlying towns. By 1944 it was twelfth nationally by size of funds.
History
The first hundred years
In November 1818, twenty "philanthropic gentlemen" having seen what was done in other cities, convened a meeting to form Sheffield's own savings bank. The list of twenty included three JPs, five connected with the Cutlers’ Company, a Town Trustee, a banker and sundry manufacturers. Hugh Parker, a magistrate and banker was in the chair and it was duly resolved to establish the Sheffield and Hallamshire Bank for Savings (later shortened). A subscription list was opened for “starting funds “and it raised £175, led by the Duke of Norfolk with 30 guineas.[1] Horne described the Sheffield Savings Bank as “easily the most important of the thirty-nine started in 1819.”[2] Despite the illustrious backing, when the Bank opened in March 1819 it was only in a room lent by the Cutlers’ Company in their hall, with the hours of business confined to two hours on Monday and Tuesday.