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In 1832, the Petersfield bank of Hector, Lacey and Co established an associated bank at Portsmouth. Mr. Jackson was the resident and managing partner at Portsmouth. In April 1839 the Portsmouth business was reorganised as the Portsmouth, Portsea, Gosport and South Hants Banking Co under the management of Erasmus Jackson, linen draper, and William Jones, druggist. A branch was opened at Gosport under the management of Matthias March who was also the Russian Consul for Portsmouth. By 1863 the bank had 60 shareholders, but in 1864 it got into difficulty and accepted an offer from the Provincial Banking Corporation.

No records of this bank have come to Group Archives.