Opened in temporary offices in 58 Liverpool Street, Hobart, on 11 July 1840 after a preliminary meeting, held at 9 Macquarie Street. An original share was twenty pounds. C Driscoll was the Managing Director. "This bank is established, not less with a view to benefit the industrious tradesmen of the colony, than the settlers generally; both of which classes but too frequently find their intelligence and enterprise counteracted from a want of adequate capital, which this Association proposes to supply." The Bank closed in 1847 returning Eighteen Shillings and Sixpence in the Pound to the shareholder.