Greater Utica Magazine Cover – March 2022 – Utica First Bank History Utica NY

The March 2022 cover of Greater Utica Magazine highlights the history of Utica’s first bank, tracing its origins back to the early 19th century and the entrepreneurial efforts of John and Nicholas Devereux. Around 1814–1816, the Devereux brothers operated a general store in Bagg’s Square where they provided a secure iron strong box for Irish laborers and local settlers to safely store their money. This informal system quickly evolved into a trusted financial service, leading to a state charter in 1821 and the eventual establishment of the Savings Bank of Utica. After years of economic fluctuation, the bank officially opened in 1839, becoming a key institution in the city’s early financial and commercial development.

The cover image features a 1960s view of the Marine Midland Bank building in downtown Utica, representing a later chapter in the city’s long banking history. While separate from the origins of the Devereux brothers’ early efforts, it reflects the continued growth and modernization of financial institutions in Utica as the city expanded into the 20th century.

The Utica First Bank History Utica NY begins in the early 19th century with the efforts of John and Nicholas Devereux, whose secure iron strong box helped lay the foundation for organized banking in the city.