COLLECTION GUIDES

1853-1987

Guide to the Collection

Restrictions on Access

The bulk of the Waltham Savings Bank records (except for 2 oversize volumes) are stored offsite and must be requested at least one business day in advance. Contact the Library at library@masshist.org or (617) 536-1608 to request materials. Please discuss your request with the reading room staff before requesting cartons by barcode.


Collection Summary

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 oversize 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 oversize volumes) are stored offsite and must be requested at least one business day in advance. Contact the Library at library@masshist.org or (617) 536-1608 to request materials. Please discuss your request with the reading room staff before requesting cartons by barcode.

Detailed Description of the Collection

I. Bank records, 1853-1987

A. Administrative records, 1853-1987

1. Trustees' records, 1853-1986

4 vols.
Carton 1SH 0054
Minutes of the board of trustees, 1853-1897
Carton 1SH 0054
Minutes of the board of trustees, 1897-1919
Carton 1SH 0054
Minutes of the board of trustees, 1946-1971
Carton 1SH 0054
Minutes of the board of trustees, 1971-1986

2. Annual meeting minutes, 1853-1954

2 vols.
Carton 1SH 0054
1853-1954
Carton 1SH 0054
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

Carton 1SH 0054
Investment committee, 1859-18621 vol.
Carton 1SH 0054
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

Carton 2SH 12JR 8
1 vol.

2. Ledger of transactions, assets, etc., 1853-1866

Carton 2SH 12JR 8
1 vol.

3. Audit of Treasurer's records, July 1853-Dec. 1907

This volume contains three systems of auditing: 1) 1853-88, monthly by single trustee; 2) 1889-97, quarterly (Jan/Apr/Jul/Oct) by Committee of Investment; 3) 1897-1907, modern quarterly system (Jan/Mar/Jun/Sep) by Committee of Investment.

Carton 2SH 12JR 8
1 vol.
Carton 2SH 12JR 8
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).

Carton 3SH 12JS 9
October 1873 - July 1881 3 vols.
Carton 4SH 12JT A
July 1881 - November 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.

Carton 2SH 12JR 8
1 vol.

II. Customer records, 1853-1935

A. Individual account balances of savings customers, July 1853-January 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 oversize volumes STORED ONSITE at Ms. N-345 (oversize)
Carton 5SH 12JU B
Ledgers A-E, July 1853-Oct. 18745 vols.
Carton 6SH 12JV C
Ledgers F-I, May 1865-Apr. 1879 4 vols.
Carton 7SH 0038
Ledgers J-M, Apr. 1870-Feb. 18794 vols.
Carton 8SH 12JW D
Ledgers N-Q, June 1873-Jan. 18884 vols.
Carton 9SH 12JX E
Ledgers R-U, Oct. 1879-Jan. 18874 vols.
Carton 10SH 12PK 7
Ledgers V-Y, March 1883-Jan. 18884 vols.
Carton 11SH 0039
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.

Carton 12SH 12PL 8
Deposits, Vols. 1-5, June 1853-Oct. 1870
Carton 13SH 12PM 9
Deposits, Vols. 6-8, Oct. 1870-Sep. 1873
Carton 14SH 0037
Deposits, Vols. 9-12, Sep. 1873-Jan. 1878
Carton 15SH 12PN A
Deposits, Vols. 13-16, Jan. 1878-Oct. 1881
Carton 16SH 0041
Deposits, Vols. 17-20, Oct. 1881-Nov. 1884
Carton 17SH 0040
Deposits, Vols. 21-24, Nov. 1884-June 1887
Carton 18SH 0042
Deposits, Vols. 25-28, June 1887-July 1889
Carton 19SH 0043
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.

Carton 20SH 12PP C
New accounts, Mar. 24, 1904-Dec. 27, 1909 4 vols.
Carton 21SH 12JQ 7
New accounts, Dec. 29, 1909-Apr. 10, 19165 vols.
Carton 22SH 0036
New accounts, Apr. 10, 1916-Apr. 2, 1923 5 vols.

D. Personal loans, 1873-[1893]

Carton 2SH 12JR 8

E. Special accounts, 1917-1935

1. Liberty loans - Subscriptions, May 1917-Feb. 1921

Records include addresses of subscribers and some employers.

Carton 2SH 12JR 8
5 vols.

2. WWI customer Liberty Bond purchases, 1922-1935

Carton 2SH 12JR 8
1 vol.

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).

Carton 2SH 12JR 8
1 folder

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.

Subjects:

Banks and banking -- Accounting.
Banks and banking -- History.
Banks and banking -- Massachusetts -- Waltham.
Liberty bonds.
World War, 1914-1918 -- Finance.
Account books -- 1853-1935.
Waltham (Mass.) -- History.