The accounts for this financial year show a return to a position of increasing deposits, though the economic and financial background is similar to the previous year when deposits fell. Caution is advised regarding the withdrawal of deposits in pursuance of an "extraordinary consideration". Reference is made to "ill-managed banks" -  twenty-two cases of  fraud in savings banks came to light between 1844 and 1857, including serious cases in Rochdale (£71,715),  Spilsby, Poole, St Helens, Mitcham, and the Isle of Wight, in England; and Auchterarder in Scotland. As a measure of assurance to Birmingham's depositors, the printed Statement of Accounts included a copy of the receipt of the Comptroller General regarding the sum invested with the National Debt Commissioners:

In addition to stating the balance held re Deposits (£438,809. 1s. 8d.), the Receipt also states that the National Debt Commissioners (NDC) are paying interest at the rate of 3.25%. The Birmingham Savings Bank is paying interest at the rate of 3% to its depositors at this date. The NDC are also holding £600 which is part of the Surplus of Income over Expenditure generated by the Bank since its inception - the total Surplus to November 20th 1856 is £2,343. 18s. 5d.

A note to the Accounts states that the Bank's current Hours of Business are:

 - Mondays: 12pm to 2pm; and 6:30pm to 8pm

 - Thursdays: 12pm to 2pm

 - Saturdays: 12pm to 2pm; and 6:30pm to 8pm

 

The Auditors draw attention to a rival organisation (the National Savings Bank Association) that has been issuing passbooks headed 'Birmingham Savings Bank' - an advertisement placed to publicise this attempted deception shows that the office of the original Birmingham Savings Bank is located at 31½, Cannon Street. Copies of the Bank's Annual Reports were routinely published in local newspapers, the AGM resolving (eg), "that the same be approved and confirmed, and a copy thereof be inserted in the Birmingham Journal of Saturday next, in the Birmingham Mercury on the first Saturday in February, in Aris's Birmingham Gazette on the first Monday in March, and in the Midland Counties Herald on the first Thursday in April".

 

In continuation of the Bank's policy of encouraging thrift, rather than spending money at a Public House, two water fountains have been installed at the front and rear of the Bank's premises between Cannon Street and Needless Alley. At the AGM, a resolution is passed implementing the suggestion of the Auditors that the withdrawal of interest capitalised on November 20th may be withdrawn without notice during December and each Saturday throughout the year. In order to give more extended circulation to the suggestions contained in the Auditors' Report, it was resolved that an additional number of copies of the Report be printed, (with an extract in larger type,) and distributed gratuitously among the Depositors.

 

The Auditors continue to draw attention to the evils of alcohol, and to the recent commencement of two dubious 'savings banks' in Birmingham. They recommend some relaxation of the Bank's Rule requiring fourteen days' notice for withdrawals, and their suggestion regarding the use of both "a Receiving and a Paying Table" give an idea of the office's layout. A reference to a proposal by a Mr Sikes of Huddersfield regarding the use of Money Order Offices is a precursor to the introduction of the Post Office Savings Bank in 1861. Two Resolutions are passed at the AGM regarding salaries:

That Mr W Ashby Bolton be appointed Assistant Secretary, at £100 a year, and that he give security for £500

That the Salary of Mr John Williams, as Accountant, be increased from £350 to £400.

 

The Bank's Hours of Business are now:

 - Mondays: 12pm to 2pm and 6pm to 8pm;

 - Wednesdays: 12pm to 2pm;

 - Thursdays: 12pm to 2pm

 - Saturdays: 12pm to 2pm and 6pm to 8pm - as a consequence the salary of the Assistant Secretary is increased by £25

The increase in balances of £52,599 is the highest ever achieved, exceeding the previous highest increase of £47,224 in the prior year. Correspondingly, the increase of 2,289 in open accounts is also the highest achieved. A reference is made to Penny Banks, although it is likely that they had existed in Birmingham for some time prior to 1860. The concept of Penny Banks was the ability for a saver to put aside amounts that were less than the minimum deposit required by a Savings Bank - in the case of the Birmingham Savings Bank the minimum deposit was One Shilling. The Penny Bank's administrators kept the appropriate records and deposited the aggregate sums in a Savings Bank account.