A History of East Boston

The business character and prosperity of East Boston, in the opinion of many, seemed to demand that a bank should be established there for the better accommodation of those who would otherwise be compelled to go to the city for the transaction of their money affairs. Consequently a charter was obtained for the Maverick Bank, with a capital of $400,000, on the 28th of March, 1854, and it went into operation on the 18th of the following September [1854]. At first, it was located in the Winthrop block, which stands upon ground formerly occupied by the Maverick House and garden; but in 1856 (10th June) it was removed to State street, Boston (No.75), because, on trial, it was found that a greater amount of business on the amount of capital could be done that the Island of itself afforded, and that very many business men of East Boston could be more more conveniently accommodated in money transactions in State street than at first location of the bank. The present officers (1858) are as follows: - Samuel Hall, president; Samuel Hall, Wm. R. Lovejoy, Wm. C. Barstow, Noah Sturtevant, and Paul Curtis, of East Boston, and Henry N. Hooper and Martin L. Hall, of Boston, directors; Samuel Phillips, Jr., cashier; George F. Stone, teller; Alfred R. Turner, bookkeeper; William G. Brooks, Jr., messenger and clerk.

References: