Provident Institution for Savings in the Town of Boston

"[3] "The leading citizens of Boston ... felt that participation in the administration of the savings banks in their [city] was an integral part of their civic duties.

Boston's Catholic bishop, John Cheverus, provided significant start-up energy, since a savings bank would encourage virtuous thrifty behavior amongst his parishioners.

[4] In the first decades of its history, the Provident occupied several buildings in downtown Boston -- Court Street (ca.1817), in the courthouse; Scollay Square (1823–1833), in Scollay's building; Tremont Street (1833–1856), adjacent to King's Chapel Burying Ground; and Temple Place (beginning in 1856), in the former mansion of Thomas Handasyd Perkins.

In 1822, the bank expanded its client base to include depositors from "Quincy, Milton, Dorchester, Dedham, Roxbury, Brookline, Waltham, Brighton, Newton, Weston, Cambridge, Watertown, West Cambridge, Medford, Saugus, Malden, and Chelsea.

According to one historian, the bank "sought large deposits, made timely loans to textile firms in which its directors were interested, and generally profiteered.