This private bank was established in about 1806 as Upton & Co by William Upton, a local merchant, and his son. After the Uptons retired William Stoveld became senior partner. By 1811 the bank was known as Stoveld & Co and was operated by William and his nephew, John Stoveld. By the mid 1840s John Stoveld was managing the bank alone as John Stoveld & Co. It was acquired by London & County Banking Co in 1845.