Martins Bank

Martins Bank was a historic British banking institution that developed from the London goldsmith and private-banking tradition and ultimately became one of the United Kingdom's best-known regional banks. Its early identity was closely associated with the Grasshopper, a sign used by the banking business in Lombard Street. The Grasshopper was traditionally linked with Thomas Gresham, whose family crest included the insect, although historical accounts distinguish Gresham's use of the sign from the later Martins family business. Members of the Martin family were prominent London goldsmiths from the sixteenth century, and successive generations operated banking partnerships that passed through names including Martins, Stone and Blackwell, Martin Stone and Foote, and Martin and Company. For much of the nineteenth century Martins remained a relatively conservative private bank. Like many private London banks, it concentrated on a principal office and had limited branch expansion compared with the rapidly growing joint-stock banks. The financial disturbance following the collapse of Barings in 1890 encouraged the business to adopt a more formal corporate structure, and it became a limited company in 1891. The change also increased pressure to expand beyond London. Martins initially considered combinations with other private banks, but the strategic importance of provincial operations eventually led it toward a relationship with the Bank of Liverpool. The Bank of Liverpool had been established in 1831 and sought both a London presence and access to the London Bankers' Clearing House. An agreement for Martins to be acquired was reached in 1914, but completion was delayed by the First World War. The transaction was completed in 1918, creating the Bank of Liverpool and Martins Limited. The Martins name was retained because of its established reputation and its London connections, while managerial control and the enlarged institution's principal headquarters remained in Liverpool. This made Martins distinctive as the only English national bank of its period with its head office outside London. In 1928, following the acquisition of the Lancashire and Yorkshire Bank, the institution adopted the shorter name Martins Bank Limited. By that time it had grown to approximately 560 branches. Its visual identity combined the Grasshopper associated with the Martins tradition and the Liver bird associated with Liverpool. The combined heraldic imagery reinforced the bank's dual identity as a national institution rooted in both London history and Liverpool commerce. Martins commissioned a major new headquarters at 4 Water Street, Liverpool. Designed by Herbert James Rowse in a classical revival style and opened in 1932, the building became one of the most notable interwar banking premises in Britain and is now Grade II* listed. During the Second World War, the building's vaults played a role in Operation Fish, the secret movement of much of Britain's gold reserves from the Bank of England to Liverpool. The operation was overseen for Martins by Chief Inspector Donald Lynch and later became part of the bank's historical legacy. The bank also pursued specialist and retail-related activities. From 1958 to 1967 it owned Lewis's Bank, which operated branches in Lewis's department stores and in Selfridges in London. Lewis's Bank was sold to Lloyds Bank in 1967. Martins also promoted savings and the bank brand through customer merchandise, including children's banking materials, model-building products, and a plastic Grasshopper money box distributed in 1968 to some young savings-account customers. Barclays acquired Martins Bank in 1969. On 15 December 1969, the bank's approximately 700 branches became Barclays branches; around 30 closed immediately and a further group was converted into sub-branches. Martins branding survived within parts of the combined business into the early 1980s, appearing on statements and cheque books before being progressively…

Martins Bank's history combines the traditions of London goldsmith banking, nineteenth-century private banking, and the expansion of a Liverpool-based national bank. The Grasshopper sign became the institution's most recognizable early symbol. Although tradition associated the sign with Thomas Gresham, historical evidence does not establish that Gresham founded the Martins business. The Martin family nevertheless had deep roots in the London goldsmith community: Richard Martin became a Goldsmiths' Company liveryman in 1558, later serving as Master of the Mint and Lord Mayor of London. Later family partnerships operated under several names before becoming Martin and Company in 1844. The private bank's limited branch presence restricted its growth during an era when joint-stock banks were building wider networks. The crisis surrounding the failure of Barings in 1890 helped prompt Martins to incorporate as a limited company in 1891. Expansion beyond London then became increasingly important. A proposed relationship with Cocks Biddulph did not succeed, while an agreement with the Bank of Liverpool eventually provided a route into provincial banking and gave the Liverpool institution a London presence and a seat in the London Bankers' Clearing House. Although the agreement was made in 1914, the First World War delayed completion until 1918. The resulting Bank of Liverpool and Martins Limited retained the Martins name, but operational control remained in Liverpool. The combination was subsequently enlarged through the acquisition of the Lancashire and Yorkshire Bank. In 1928 the corporate name was shortened to Martins Bank Limited. The bank's identity combined the Grasshopper with the Liver bird, symbolizing its London heritage and Liverpool base. By this period the network had reached roughly 560 branches. Martins' Liverpool headquarters at 4 Water Street was designed by Herbert James Rowse and opened in 1932. The classical revival building is recognized as a major interwar work and is Grade II* listed. During the Second World War, Martins' vaults were used in the secret Operation Fish movement of British gold from the Bank of England to Liverpool. The bank's role in the operation, overseen locally by Chief Inspector Donald Lynch, later became one of the most notable episodes associated with its premises. The institution continued to develop retail and affiliated banking activities. Between 1958 and 1967, it owned Lewis's Bank, whose outlets operated inside Lewis's department stores and Selfridges in London. Martins also used branded customer materials and children's savings promotions, including miniature banking books, model-making products, and a Grasshopper money box issued in 1968. Barclays acquired Martins in 1969. On 15 December, all of Martins' branches were transferred into the Barclays network; approximately 30 branches closed at once and ten were reduced to sub-branch status. The Martins name and Grasshopper emblem remained visible on parts of the inherited business, including statements and cheque books, until the early 1980s. The independent bank therefore ended as an operating institution, while its architectural, corporate, and social history has been preserved through Barclays records, the Martins Bank Archive, and surviving former branch buildings.

• 1969

  Acquisition by Barclays

  [1]Martins Banken.wikipedia.org

  Martins' branch network was absorbed into Barclays, ending its independent existence.

• 1958

  Martins begins operating Lewis's Bank

  [1]Martins Banken.wikipedia.org

  Martins acquired and operated Lewis's Bank, a department-store banking business, until its sale in 1967.

• 1932

  Liverpool headquarters opens

  [1]Martins Banken.wikipedia.org

  The new Water Street head office designed by Herbert James Rowse opened in Liverpool.

• 1928

  Name changed to Martins Bank Limited

  [1]Martins Banken.wikipedia.org

  The bank adopted its shorter name after the Lancashire and Yorkshire Bank transaction.

• 1918

  Merger with the Bank of Liverpool

  [1]Martins Banken.wikipedia.org

  The delayed combination created Bank of Liverpool and Martins Limited and retained Martins in the corporate title.

• 1891

  Incorporation as a limited company

  [1]Martins Banken.wikipedia.org

  Martins adopted limited-company status after the financial turbulence associated with the Barings crisis.

• 1844

  Martin and Company

  [1]Martins Banken.wikipedia.org

  One documented nineteenth-century form of the family banking business was Martin and Company.

• 1563

  Traditional origin associated with the Grasshopper

  [1]Martins Banken.wikipedia.org

  The bank's traditional origin date is linked to the Grasshopper sign and the London goldsmith tradition, though the direct founding role attributed to Thomas Gresham is historically disputed.

• 1558

  Richard Martin enters the Goldsmiths' Company

  [1]Martins Banken.wikipedia.org

  Richard Martin was recorded as a liveryman of the Goldsmiths' Company, marking an early documented connection between the Martin family and London's goldsmithing establishment.

A respected traditional British bank combining historic London private-banking heritage with a Liverpool-based national branch network.

• Retail and commercial banking

  Branch banking

  Martins provided conventional British branch-bank services, including deposits, current accounts, cheques, payments, and customer-facing counter services. Its growth from a London private bank into a national institution was reflected in a large branch network, which reached approximately 560 branches by 1928 and approximately 700 before the Barclays acquisition.

• Savings

  Savings accounts

  Savings products formed part of Martins' retail banking offer. The bank supported customer acquisition among younger savers through branded materials and promotional items, including a Grasshopper money box distributed in 1968 to some children opening savings accounts.

• Department-store banking · 1958

  Lewis's Bank

  Owned by Martins from 1958 to 1967, Lewis's Bank operated banking outlets within Lewis's department stores and Selfridges in London. It gave Martins a specialized retail distribution channel outside the conventional high-street branch format. Martins sold the business to Lloyds Bank in 1967.

• 1968Grasshopper money box savings promotion

  United Kingdom

  Martins used a clear yellow plastic Grasshopper money box as a promotional gift for some children who opened savings accounts. The initiative extended the bank's longstanding Grasshopper identity into family and youth banking.

  Outcome. The item became a surviving piece of Martins Bank memorabilia; no broader campaign performance data is identified in the supplied sources.

  Source

• 1969

  Transfer Martins Bank into BarclaysM&A

  Background

  The British banking sector was consolidating, and Barclays agreed to acquire Martins and its extensive branch network.

  Action taken

  Barclays took over Martins on 15 December 1969 and converted its branches into Barclays branches.

  Aftermath

  Around 30 branches closed immediately and ten became sub-branches. Martins branding survived in limited forms until the early 1980s before disappearing from routine banking materials.

  Source

• 1967

  Sell Lewis's Bank to Lloyds BankM&A

  Background

  Martins had operated Lewis's Bank as a department-store banking business since 1958.

  Action taken

  Martins sold Lewis's Bank to Lloyds Bank.

  Aftermath

  Lewis's Bank continued under Lloyds ownership for a period, while Martins concentrated on its principal banking operations before its own acquisition by Barclays.

  Source

• 1918

  Complete the Bank of Liverpool combinationM&A

  Background

  The Bank of Liverpool wanted a London presence and representation in the London Bankers' Clearing House, while Martins needed a route into wider provincial expansion.

  Action taken

  The two institutions completed their agreed combination after the First World War, creating Bank of Liverpool and Martins Limited.

  Aftermath

  The Martins name was preserved, while the enlarged bank remained managed from Liverpool.

  Source

• 1891

  Convert the private bank into a limited companyStrategy

  Background

  The Barings crisis and the changing competitive environment made the traditional private-bank structure less suitable for expansion.

  Action taken

  Martins adopted limited-company status and began pursuing a more expansion-oriented strategy.

  Aftermath

  The change helped prepare Martins for its eventual combination with the Bank of Liverpool and subsequent national branch growth.

  Source

1. 1Martins Banken.wikipedia.org
2. 2Martins Bank Archivemartinsbank.co.uk