THE decision to shut the HSBC bank in the Market Place is a huge blow to the economic fabric of Frome.
But there is also another reason to mourn its closure in June 2023, writes By Mick Davis and David Lassman from Frome Museum. This is because the Frome HSBC branch will be celebrating its centenary, having opened on the site in early 1923.
That particularly plot, however, known as 24 Market Place, originally housed a much different building. A graceful and well-proportioned three-storey drapers shop, run by William F Carpenter, occupied the site in the early years of the century.
Carpenter had originally begun trading up Catherine Hill, but business must have been good as he kept this shop on after he had opened the new one in the Market Place. And it was at the latter shop, where an advertisement from 1889 proclaimed that he was proud to announce the selling of the entire stock of Mr Tonkins at greatly reduced prices.
By the turn of the century, or not long after, however, it seems the business was being run by his wife – possibly as her husband had died – and it had branched out into linoleum and cork carpets. The business was obviously doing extremely well, as by 1906 the widow Carpenter and family were living at the prestigious Hall House in Cork Street.
However, in January 1920 there was a Grand Winter Sale and although there is no mention of this being a closing down sale, by June 1921 Cooper & Tanner were tasked with disposing of its fixtures and fitting. In 1922, the building was demolished and the current one built. Once completed, Midland Bank then opened its branch in the town.
The bank had originally been founded in 1836 as the Birmingham and Midland Bank, although after expansion and a merger, it became London City and Midland Bank. Then, after a further period of expansion, it became known as Midland Bank Ltd. This latter name change occurred in 1923, the same year the Frome branch opened.
The establishment then became part of the financial hub in the town centre, alongside many other high street banks, during the succeeding decades.
A night safe was introduced in 1939, allowing traders to deposit money outside normal banking hours and by this time, the limited company had become the biggest deposit bank in the world. In 1999, after being taken over by HSBC Holdings plc, it became known as the HSBC Bank, but continued to play an essential part in the local population’s lives.
As 2023 will therefore be the branch’s centenary year, it is a shame that its anniversary will be marked by its closure.
Photos from Frome Museum.
