1853-1987
Guide to the Collection
Restrictions on Access
The bulk of the Waltham Savings Bank records (except for 2 extra-tall volumes) is stored offsite and must be requested at least two business days in advance via Portal1791. Researchers needing more than six items from offsite storage should provide additional advance notice. If you have questions about requesting materials from offsite storage, please contact the reference desk at 617-646-0532 or reference@masshist.org.
Abstract
This collection consists of the records of the Waltham Savings Bank, which date from the bank's founding in 1853 through 1987. The vast majority are financial records and ledgers dating from 1853-1935.
Historical Sketch
The Waltham Savings Bank was founded in 1853 and became Sterling Bank in 1990. Sterling Bank acquired the Woburn Five Cents Savings Bank in 1990 and the University Bank and Trust in Cambridge in 1991. Fleet Bank acquired all branches of Sterling Bank in August of 1994.
Collection Description
The records of the Waltham Savings Bank, 1853-1987 (bulk: 1853-1935), consist of 100 volumes: 22 cartons containing 98 volumes stored offsite and 2 extra-tall index volumes stored onsite. The collection has been arranged into three series: I. Bank records, 1853-1986; II. Customer records, 1853-1935; and III. Bank histories, 1924-1953.
The vast majority of the collection is made up of financial ledgers covering a wide range of business activities. Series I. Bank records contain internal financial records of the bank, as well as minutes of trustee, investment committee, and annual meetings. Series II. Customer records contain financial records of customer accounts, including account balances, deposits, personal loans, and World War I Liberty loans and bonds. Series III contains copies of two histories of the bank published in 1924 and 1953.
Acquisition Information
The Waltham Savings Bank Records were the gift of the Sterling Bank, Waltham, Mass., August 1994.
Processing Note
In June 2001, the records were appraised and processed. As a result, the collection was reduced from 428 volumes and 6 boxes in 60 record cartons to 100 volumes and 1 folder in 22 cartons.
Administrative records (minutes of the trustees and annual meetings) were kept to the most recent date (1987), while the remainder of the collection was weeded extensively. Apart from summary financial records, the detailed financial information can be found only in the customer records and in daily journals of the bank. Detailed customer accounts were retained through 1888 (the date through which they are indexed); personal loan records and daily journals of the bank were kept through the same date for consistency. Although much of the information contained in the deposit records is duplicated in the customer account balances, the records were kept because they also contain personal information on the customer, including signatures of new account holders, place of residence, age, place of birth, and parents' and spouse's name.
Restrictions on Access
The bulk of the Waltham Savings Bank records (except for 2 extra-tall volumes) is stored offsite and must be requested at least two business days in advance via Portal1791. Researchers needing more than six items from offsite storage should provide additional advance notice. If you have questions about requesting materials from offsite storage, please contact the reference desk at 617-646-0532 or reference@masshist.org.
Detailed Description of the Collection
I. Bank records, 1853-1987
A. Administrative records, 1853-1987
1. Trustees' records, 1853-1986
4 vols.Minutes of the board of trustees, 1853-1897
Minutes of the board of trustees, 1897-1919
Minutes of the board of trustees, 1946-1971
Minutes of the board of trustees, 1971-1986
2. Annual meeting minutes, 1853-1954
2 vols.1853-1954
1954-Apr. 1987
Note: last entry (Apr. 1987), board voted to name the new holding company The Waltham Corporation.
3. Investment committee records, 1853-1892
Investment committee, 1859-1862
1 vol.Board of investment: committee minutes, loan applications, 1853, Mar. 1877-Sep. 1879; Aug. 1883-Dec. 1892. Committee minutes regarding loans, votes regarding association with other banks (including Shawmut, National Union Bank of Boston, etc.)
1 vol.B. Operational records, 1853-1909
1. Financial statement of condition, July 1853-Sep. 1868
2. Ledger of transactions, assets, etc., 1853-1866
3. Audit of treasurer's records, July 1853-Dec. 1907
This volume contains three systems of auditing: 1) 1853-1888, monthly by single trustee; 2) 1889-1897, quarterly (Jan/Apr/Jul/Oct) by Committee of Investment; 3) 1897-1907, modern quarterly system (Jan/Mar/Jun/Sep) by Committee of Investment.
4. Daily journals, 1873-1889
Ledgers recording daily bank business totals. These records were kept to 1889 for the same period as individual account balance volumes (II.A., below).
Oct. 1873-July 1881
3 vols.July 1881-Nov. 1889
3 vols.5. Savings accounts by number, 1888-1919
Divided into various categories, including amount of money in the account and demographic categories, including "women," "religious and charitable," etc.
II. Customer records, 1853-1935
A. Individual account balances of savings customers, July 1853-Jan. 1888
Ledgers recording deposits, withdrawals, and dividend payments as made. The dates of the ledgers overlap. Each volume includes a separate index inside the front cover. In addition, there is a two-volume cumulative index (which remains onsite at the MHS) which refers to ledger number. Records after 1888 were kept by account number and were not indexed.
Cumulative index to ledgers A-BB
2 extra-tall volumes STORED ONSITE at Ms. N-345 (XT)A-K
L-Z
Ledgers A-E, July 1853-Oct. 1874
5 vols.Ledgers F-I, May 1865-Apr. 1879
4 vols.Ledgers J-M, Apr. 1870-Feb. 1879
4 vols.Ledgers N-Q, June 1873-Jan. 1888
4 vols.Ledgers R-U, Oct. 1879-Jan. 1887
4 vols.Ledgers V-Y, Mar. 1883-Jan. 1888
4 vols.Ledgers Z-BB, Mar. 1886-Jan. 1888
3 vols.B. Deposits, 1853-1891
Daily deposits recorded by account number and amount. Although much of the information in these volumes is duplicative of the individual account balances (see II.A., above), these volumes also contain personal information on depositors, including residence, place of birth, and age. Records after 1891 contained only financial information duplicated in the individual account balances volumes and were discarded.
Deposits, Vols. 1-5, June 1853-Oct. 1870
Deposits, Vols. 6-8, Oct. 1870-Sep. 1873
Deposits, Vols. 9-12, Sep. 1873-Jan. 1878
Deposits, Vols. 13-16, Jan. 1878-Oct. 1881
Deposits, Vols. 17-20, Oct. 1881-Nov. 1884
Deposits, Vols. 21-24, Nov. 1884-June 1887
Deposits, Vols. 25-28, June 1887-July 1889
Deposits, Vols. 29-31, July 1889-Jan. 1891
C. Deposits-new accounts, 1904-1923
Ledgers containing signatures of new account holders, place of residence, age, place of birth, and parents' and spouse's name. Although much of the information in these volumes is duplicative of the individual account balances (II.A.) and deposits (II.B.), these volumes also contain personal information not included elsewhere.
New accounts, 24 Mar. 1904-27 Dec. 1909
4 vols.New accounts, 29 Dec. 1909-10 Apr. 1916
5 vols.New accounts, 10 Apr. 1916-2 Apr. 1923
5 vols.D. Personal loans, 1873-[1893]
E. Special accounts, 1917-1935
1. Liberty loans - Subscriptions, May 1917-Feb. 1921
Records include addresses of subscribers and some employers.
2. WWI customer Liberty Bond purchases, 1922-1935
III. Bank histories, 1924-1953
Contains copies of two published histories of the bank: The Waltham Savings Bank 1853-1924 : A short historical sketch together with a list past and present officers and members of the corporation (Waltham, Mass., 1924) and a photocopy of 100th Anniversary of the Waltham Savings Bank (Waltham, Mass., 1953).
Preferred Citation
Waltham Savings Bank records, Massachusetts Historical Society.
Access Terms
This collection is indexed under the following headings in ABIGAIL, the online catalog of the Massachusetts Historical Society. Researchers desiring materials about related persons, organizations, or subjects should search the catalog using these headings.