Founded in 1877, Piscataqua Savings Bank has been a cornerstone of the Portsmouth, New Hampshire community for over a century. With deep roots in the local economy, our history reflects the growth and resilience of the region. Established during a period of significant economic transformation, Piscataqua Savings Bank has consistently adapted to the changing financial landscape while maintaining our commitment to personal service and community engagement. Over the decades, we have evolved, but we remain your small local bank, deeply proud of our trusted dedication and community support that have guided us since our inception.
The Early Years and Founding Figures
Piscataqua Savings Bank was established during a period of significant economic growth and change in Portsmouth. The bank’s first president, William H.Y. Hackett, played a crucial role in our formation. Born on September 24, 1800, in Gilmanton, NH, Hackett moved to Portsmouth in 1822 to study law. He quickly became a prominent figure in the community, practicing law and taking an interest in banking while serving as counsel for one of Portsmouth’s first banks. Throughout his life, Hackett assumed a variety of influential roles in the city’s banking sector, including joining the Board of Directors for Piscataqua Bank in July 1827 and serving as a director until his death in 1878.
Hackett’s contributions to law and banking significantly shaped the city. He was deeply involved in various community activities and played a crucial role in establishing the First National Bank of Portsmouth, the first national bank in the United States. He also served as President of the Piscataqua Exchange Bank from January 1845 to August 1863 and was a senior trustee of the Portsmouth Savings Bank until his death. Under his leadership, Piscataqua Savings Bank was chartered and commenced operations in April 1878, largely due to his efforts.
Continuing the Legacy: Ichabod Goodwin
Following Hackett’s death, Ichabod Goodwin, a notable figure in Portsmouth and President of the First National Bank, became an original incorporator of Piscataqua Savings Bank in 1878. Born on October 8, 1794, in Berwick, Maine, Goodwin moved to Portsmouth, where he worked in his cousin Samuel Lord’s counting-house. Before his tenure at Piscataqua Savings Bank, Goodwin had a distinguished career in the community as a merchant, supercargo, and shareholder for the Portsmouth Whaling Company. He ventured into local politics and was elected the first Republican governor in 1859.
Goodwin also held significant roles in various enterprises. He was elected director of the Portsmouth Gas Light Company in 1865 and served as president of the Portland, Portsmouth and Saco Railroad. After 25 years of service, he declined re-election as a director of the Eastern Railroad in 1873, with Frank Jones succeeding him. Goodwin was the first president of the Eastern Railroad, which later became the Boston and Maine Railroad. Additionally, he was associated with the Portsmouth Bridge Company, which built a bridge near the current location of the Sarah Mildred Long Bridge.
After joining Piscataqua Savings Bank, his leadership continued the bank’s tradition of strong, community-focused service until his death in 1882. Goodwin’s tenure was marked by steady growth in the bank’s assets and its reputation as a trustworthy institution. He remained deeply involved in the community, reflecting the bank’s ongoing commitment to supporting local residents and businesses.
A Noteworthy First Depositor: Charlotte Maria Haven
One of the most fascinating aspects of Piscataqua Savings Bank’s history is its first depositor, Charlotte Maria Haven. Born on October 24, 1825, Charlotte was the youngest child of Nathaniel Appleton Haven Jr. and Eliza Wentworth Haven. Her family was deeply rooted in Portsmouth’s history; her grandfather, Dr. Nathaniel Haven Sr., was a merchant, lawyer, doctor, and politician who formed a significant business partnership with his brother, John Haven. Both were prominent figures in Portsmouth’s commercial circles.
Charlotte’s deposit on April 2, 1878, was particularly notable because many banks at the time did not allow women to hold bank accounts without the involvement of a husband or male relative. While some banks did allow women to open their own accounts in the 1800s, it wasn’t until the Equal Credit Opportunity Act of 1974 that the right of women in the U.S. to open a bank account on their own became legally protected.
Charlotte’s involvement with Piscataqua Savings Bank marked the beginning of a long-standing relationship between the Haven family and the bank. Her trust and confidence in the institution reflect the values and stability that Piscataqua Savings Bank has offered to local families from our inception.
Our Neighborhood
In 1813, a devastating fire swept through Portsmouth, destroying much of the city from Pleasant Street down to the Piscataqua River. In the aftermath, a row of brick commercial buildings known as the Exchange Block was constructed. In 1857, a new structure designed by Boston architect S.S. Woodcock was added at the end of the Exchange Block, the local landmark towering over its Pleasant Street neighbors.
The Rockingham Bank, established in 1813, occupied this building until 1865, when it was succeeded by the Rockingham National Bank, which closed in 1905 without a successor. In 1905, Piscataqua Savings Bank purchased the building, though we did not move to this location until 1925. Today, several of the Exchange Block buildings form the quarters of Piscataqua Savings Bank. The merging has been so skillfully done that customers often don’t realize they’re stepping from one building to another!
Commitment to Community
Throughout our history, Piscataqua Savings Bank has maintained a steadfast commitment to ethical banking practices and community service. The bank’s founders and early leaders set high standards for integrity and customer care, values that continue to guide our institution today.
From our inception, the bank has prioritized the interests of our clients, adhering to fiduciary and ethical standards to ensure the financial well-being of our customers. This commitment is evident in the personalized services offered, including diversified investment management and tailored financial advice designed to meet each client’s unique needs.
As Piscataqua Savings Bank looks to the future, we remain deeply rooted in the principles established by our founders. The bank continues to support the community through financial services and active involvement in local events and initiatives.
The legacy of William H.Y. Hackett, Ichabod Goodwin, and Charlotte Maria Haven live on in our dedication to excellence and community service. With over a century of history behind us, Piscataqua Savings Bank is well-positioned to continue serving the Portsmouth area for many years to come, building on our rich heritage and strong foundation.
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