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This was a new joint stock company converted from the private North and South Shields Bank. Expansion was rapid but the financial crisis of 1847 forced some branches to close temporarily. In the 1850s, profits recovered and proposals were discussed to restructure the bank. After a number of moves involving action in Chancery, in 1859 Messrs Woods, Parker and Co purchased the company and converted it back to a private bank (see Woods and Co).

Material available at Group Archives: original deed of settlement; securities for advances etc.