In 1833, the Bank of Newbury was incorporated to serve the communities of Wells River and the surrounding villages. It was a state bank until 1867, when it adopted a national charter, and became the National Bank of Newbury. The bank focused on checking accounts and commercial loans. In 1892, the directors saw an opportunity to expand their services to savings accounts and residential mortgages, and joined with community members to charter the Wells River Savings Bank.