1850New Plymouth Savings Bank established by proclamation of Governor in Chief Sir George Grey. The rationale..."If New Plymouth can help themselves to obtain independence or at least accumulate resources wherewith to meet any unexpected crisis they would be less likely to lean upon state or [New Zealand] company support. The bank will be self-reliant, unsupported by government expenditure or the aid of British money. New Plymouth settlers are to become independent and provide a means for them to accumulate resources to assist should any crises develop."
Business was conducted from an office at the New Plymouth Police Station on Mt Eliot. The first deposit made by Waitera Te Karei, who rode 100km along beach and coastline from Mokau to make a deposit of 35 Pounds. The Bank’s accountant was paid an annual salary of 20 pounds in those days, so Waitera’s deposit was sizable.

1860The first branch office opens in New Plymouth’s old Post Office Building on Brougham Street. Throughout the following 100 years 14 more branches open in Taranaki.

1964To align with the network expansion outside of New Plymouth District, the Bank renames to Taranaki Savings Bank.

1972The Bank installs its first computers.

1975First to offer free, interest-bearing cheque accounts.

1976First in New Zealand to research, develop and use bank-wide, real-time computer processing.

1978Bank deposits reach $50 million.

1981First in New Zealand to develop automated teller machines – ATM’s or ‘Cashflow’. In a bold move, the Bank ordered four machines for its City, Centre, Fitzroy and Hawera branches. As the population of Taranaki at this time was about 104,000, this decision was seen as radical.

1984Labour Government is voted in and begins deregulation of the financial sector.

1986Other regional Trustee Savings Banks merged because it was necessary to survive in the new economic conditions of deregulation, and many of New Zealand’s banks became owned by overseas interests. In the face of industry and government opposition, Taranaki’s bank was determined to remain independent. The self-reliant vision of the bank’s forefathers had been retained to ensure that it remained 100% New Zealand owned. With this confirmed independence came the establishment of the TSB Community Trust – the Bank’s shareholder.