East Anglian TSB

(1816-1976)

Foundation

Norfolk & Norwich Savings Bank was established in Norwich, in 1816. It owes its foundation to an earlier institution in the city. In 1812, John Hammond Cole, a local merchant and salesman, had established a savings bank in his own house. It was open for business one evening a week, and run with the assistance of Cole's daughters.

East Anglian Trustee Savings Bank Head Office, 1844
East Anglian Trustee Savings Bank Head Office, 1844

Cole’s bank proved popular, particularly with the servants and apprentices of Norwich. Indeed, such was its success that there were calls to establish a more permanent savings bank, to be run by a board of trustees. The Norfolk & Norwich Savings Bank was set up to give the ‘industrious poor’ a secure place in which to deposit their money.

 

First Century of Expansion

The new bank was an immediate hit. On its first day of business, 29 April 1816, some 35 accounts were opened and £86.3s.6d was deposited. The Bank's growth was steady; over the years it moved to successively larger premises, eventually settling in Haymarket.

During the 19th century the Bank established a number of agencies. But it was not until 1911 that its first branch was opened, in Great Yarmouth. The trustees had finally decided that the time was right for expansion.

East Anglian Trustee Savings Bank Head Office, 1927
East Anglian Trustee Savings Bank Head Office, 1927

Further branches followed, in Kings Lynn and Lowestoft.  By the end of the 1930s, the Bank’s branch network stretched right across East Anglia. It could also boast more than three million depositors.  In recognition of this geographical spread, the Bank's name was changed to Norfolk & Norwich & East Anglian TSB.  This title, however, was soon shortened to the East Anglian TSB.

A Larger TSB Group

The TSB Act of 1976 resulted in the reorganisation of the savings bank network. That same year, the East Anglian became part of TSB of Eastern England.

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