History-27-BSB-5

Birmingham Savings Bank

Annual Reports: 1827 - 1863

The Birmingham Savings Bank (BSB) commenced on May 23rd (or possibly May 24th) 1827. Printed statements relating to the operation of the Bank's 37 years of operation were archived under the heading Annual Reports. These statements take the format of Minutes of an Annual General Meeting (AGM) that incorporates an Annual Report plus Financial and Statistical Statements. In the early years of the Bank little information was given regarding the structure and personnel of the Bank's management, or its hours of business. In common with all Savings Banks, the BSB had a financial year ending November 20th. The AGM was held each year in the January following the relevant November 20th.

The following table provides a summary of the Bank's progress from 1827 to 1863.

Year	Total Deposits at 20th November (£)	Number of Accounts at 20th November	Annual Deposits Increase (Decrease) (£)	Annual Accounts Increase (Decrease)	Ratio of Accounts with a Balance less than £20 (%)
1827	10,266	947			74.6
1828	30,229	1,893	19,963	946	62.3
1829	43,882	2,499	13,653	606	64.3
1830	58,262	3,139	14,380	640	63.0
1831	59,957	3,333	1,695	194	65.3
1832	49,143	2,965	(10,814)	(368)	69.7
1833	62,147	3,587	13,004	622	67.5
1834	78,101	4,471	15,954	884	67.2
1835	94,077	5,192	15,976	721	67.1
1836	116,257	6,203	22,180	1,011	67.1
1837	115,953	6,355	(304)	152	69.4
1838	133,997	7,498	18,044	1,143	69.7
1839	133,506	7,956	(491)	458	72.3
1840	153,953	8,821	20,447	865	70.9
1841	172,704	9,659	18,751	838	70.8
1842	187,066	10,479	14,362	820	71.3
1843	214,414	11,581	27,348	1,102	70.5
1844	250,081	13,186	35,667	1,605	70.0
1845	287,526	14,985	37,445	1,799	69.7
1846	322,700	16,902	35,174	1,917	70.1
1847	332,637	18,034	9,937	1,132	71.4
1848	321,165	18,252	(11,472)	218	73.0
1849	347,363	19,836	26,198	1,584	73.0
1850	350,084	20,629	2,721	793	73.7
1851	371,524	21,654	21,440	1,025	73.7
1852	395,822	22,545	24,298	891	73.1
1853	421,574	23,674	25,752	1,129	72.8
1854	432,746	24,431	11,172	757	73.2
1855	430,004	24,078	(2,742)	(353)	73.2
1856	438,131	24,457	8,127	379	73.2
1857	445,684	24,884	7,553	427	73.1
1858	453,978	25,394	8,294	510	73.3
1859	500,915	27,370	46,937	1,976	72.5
1860	553,171	29,609	52,256	2,239	72.4
1861	563,871	31,238	10,700	1,629	73.5
1862	570,197	31,833	6,326	595	73.8
1863	583,461	33,102	13,264	1,269	74.6

The content of the printed Annual General Meetings varied, but generally contained the following information:

(1) Resolutions passed at the AGM (generally thanking the Managers and Trustees, who gave their time without financial reward.)

(2) Names of the Bank's Managers and Trustees (1841 - 1863)

(3) Names of the Bank's Principal Officers

(4) Members of the Committee of Management (1832 - 1862)

(5) Names of the Auditors and details of Special Committees

(6) The Annual Auditors' Report

(7) Financial and Statistical data

Reproduced below are the Annual Reports for each of the thirty-seven years. These reports are the statements produced by the Bank's Auditors, and these provide the most details of the Bank for these years. Except for two years, the Auditors consisted of three officers, however these were not independent auditors but members of the Bank's management.

The Reports occasionally refer to the difficulties experienced in establishing and running the Bank, and also describe the economic and social situation in Birmingham where this is relevant to the progress of the Bank.

The Annual Reports for the first three years (1827 to 1829), and the Bank's final year (1863) are also reproduced within a description of the early history of Savings Banks in the United Kingdom.

The Bank operated from an office in the centre of Birmingham:

- 6 Cannon Street (from 1827);

- 9 Temple Row (from 1831);

- 31½ Cannon Street (from January 23rd 1851)

The AGMs were held at these offices, except for January 8th 1928 and January 13th 1929, when they were held at the Public Office, Moor Street (see right).

Annual Report - Period Ended November 20th 1827

The Auditors provide some statistics of the first six months of business. They report on the failure to commence a "Friendly Institution" as resolved at the meeting on April 24th 1827, and refer to the fact that public subscription has covered the initial expenses

Annual Report - Year Ended November 20th 1828

Reference is made to the importance of the "Object" of the Bank, which is to provide a secure facility for small savings, although the Bank's attractiveness to people of means has been reduced by the lowering of the rate of interest paid. The Auditors state that the Managers have attended by rotation - their (unpaid) tasks being to assist the Secretary (the only paid employee) with the deposit and withdrawal transactions

Annual Report - Year Ended November 20th 1829

Annual Report - Year Ended November 20th 1830

In this year's report, the Auditors refer to the need for larger premises in order to cope with the increasing level of business. Prior to this move to Temple Row, the Bank was located at 6 Cannon Street. The Report also refers to the impact of a temporary lack of confidence in the Bank ("influenced by the suggestions of ignorant and evil-disposed persons") resulting in withdrawals that cannot then be redeposited if the amount exceeds the annual limit of £30.

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Continued ....

The Bank commenced business on May 23rd (or possibly May 24th) 1827. A notice in Aris's Birmingham Gazette provided details of how the Bank was convened:

SAVINGS BANK AND FRIENDLY INSTITUTION.

AT a numerous MEETING, convened by circular, and held at the Public-office, Birmingham on Tuesday, April 24, 1827.

GEORGE ATTWOOD, Esq. High Bailiff, IN THE CHAIR,

It was unanimously resolved, Moved by J T Lawrence, Esq. Low Bailiff, and seconded by Thomas Lee, Esq.

That this Meeting cordially approves the measures already taken, with the view to the establishment of a Savings Bank, the benefits of which have been so sensibility felt in other places.

Moved by G Nicholls, Esq. and seconded by C Cope, Esq.

That it is equally desirable to commence at the same time the formation of a Friendly Institution for the benefit of the industrious classes, and making a safe provision in cases of sickness and old age.

Moved by the Rev. J Garbett and seconded by the Rev. G Hodson,

That this Meeting pledges itself individually and collectively to promote and support the distinct objects of the above Institutions, which, if carried into full effect, must prove so advantageous to the town generally, and to the labouring classes in particular.

Moved by J W Unett, Esq. and seconded by G E Lee, Esq.

That the Gentlemen who have hitherto acted as a provisional Committee be requested to continue their services, and be empowered to add to their numbers, and to take all requisite steps for the accomplishment of the proposed objects.

Moved by Mr R Cadbury and seconded by Mr C Shaw,

That when the Provisional Committee shall have drawn up rules and regulations for the government of each of the two Institutions, and matured the other necessary arrangements, they are requested to call together another meeting of the inhabitants of the town and its vicinity, for the purpose of receiving their report and commencing operations under an extensive and liberal a patronage as possible.

GEORGE ATTWOOD, Chairman.

The High Bailiff having left the chair, it was unanimously resolved -

That the thanks of the Meeting be given to the Chairman for his conduct therein.

The Public Office and Prison in Moor Street was erected in 1806 for the meetings of magistrates. The Prison was separated from the Public Office by an extensive yard. The premises were later transferred to the Corporation.