Niantic Bank, Westerly
The Niantic Bank was founded in the southern Rhode Island town of Westerly in 1854. It became a national institution on February 2, 1865. As a national bank, it issued $1,744,440 in currency, 13 notes of which survive to this day.
Throughout its existence, the bank was located at 14 High Street. A large fire consumed an entire block in February of 1888 and left the bank but a shell. The institution reported $11,000 in loses, only $9,000 of which was covered by insurance.
On January 11, 1905, the National Niantic Bank was acquired by the Industrial Trust Company and its offices became the Westerly branch of that institution. Records indicate that the original brick building was rebuilt in 1916 in granite in the Beaux-Arts style, although images of the structure bear the date 1887, (ie. MDCCCLXXXVii). This likely refers to the year that the Industrial Trust Company was founded in Providence (which was indeed 1887) and not the year the building was constructed.