Isle of Wight Savings Bank, Newport
The Isle of Wight Savings Bank building in Mill Street, Newport, Isle of Wight.
The Newport Savings Bank was formed in 1817 in premises in Holyrood Street[1].
In the 1850's the bank suffered a number of frauds. In 1853 the Bank's Actuary, William Wheeler Yelf, carried out a fraud of £8000 and was sentenced to be transported for life - however, he died the following year in Millbank Penitentiary.
William White's 1859 IW directory:
- Savings' Bank, Lugley street, Newport. Jph. C. Jackson, secretary
- Savings' Bank, Townhall, Ryde. W. Hy. Pullen, secretary
The bank moved to the Mill Street premises in 1865[1].
White's 1878 Directory of Hampshire & Isle of Wight has Savings Bank in Mill Street. in November 1876 total deposits of £62218 19s 10d with 2613 depositors, 4 Penny Banks, 43 Charitable Societies and 15 Friendly Societies - Mr W C Way, actuary
1898 Kelly's Directory - Isle of Wight Savings Bank, Mill Street - William Clemens Way, sec.
In 1961 the bank, then known as the Newport Trustee Savings Bank and claiming continuous service of 143 years, merged with the Portsmouth Trustee Savings Bank[2].
The bank moved to new premises at 66 High Street, Newport in March 1965. The premises, previously a butchers, had been completely demolished and rebuilt[1].
Under planning application P/01128/17, approved April 2020, the IW Council granted permission for the demolition of the Mill Street property and development of the site for housing.
