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Pikes Bank (1770 - 1826)

The Pike Family's Involvement in Cork's Finances
by Antoinette Mullan

Hoares Bank 1675 - 1770

Pikes Bank 1770 - 1826

Hoares Bank

1675 - 1770

Banks were established in Cork at the beginning of the late 17th Century. The first Bank to be set up was Hoares Bank. It was opened in 1675 by Edward Hoare and his brother Joseph Hoare. Before Edward Hoare went into partnership with his brother, he was a Wine Merchant and profits from this enabled him to set up Hoares Bank.

The Bank was running well until the troubles of the revolutions, which were in 1688. Because of these troubles, Edward Hoare had to move to England with his wife and children and reside at Edmonton with relations. When he moved he had to have the Bank shut down. His Property and Estates were valued at £500 a year, but unfortunately these were confiscated from him by James II's Parliament. Then in 1690, his belongings were returned to him by King William III, in deed for his loyalty, King William became Edward's Grantee and Purchaser.

In 1694, Edward Hoare went back to Cork with his wife and children and resumed his Banking Business again. The Hoares Bank was located at Hoare's Lane, which is now known as Adalaide Street. Edward Hoare died in 1709 and his brother Joseph Hoare was then the sole owner of the Bank.

Joseph Hoare resided at "Woodhill", which is situated at Tivoli, Cork. Joseph Hoare married four times. Firstly in 1692 to Rachel Rogers, they had one son Joseph (1695). Secondly in 1708 to Deborah Whelly, they had no children. Thirdly in 1713 to Margaret Satterthwaite, they had two sons Samuel (1716) and the other son died young. Finally he married Mary, a widow of J. Baele of Mountmellick.

Joseph Hoare's first wife Rachel Rogers had a sister Elizabeth Rogers, who in 1682 married Joseph B Pike (1657), so Joseph Hoare and Joseph B Pike became related. Then in the year 1710, Joseph Hoare offered to take Joseph B Pike as his partner in the Bank. Joseph Hoare died in 1729 and his eldest son Joseph Hoare carried on the Banking Business to keep the family's good name. Shortly after, on the 7th of November 1729, Joseph B Pike died, so Joseph Hoare ran the Bank himself. Later in the year 1740 Joseph Hoare died, so his stepbrother Samuel Hoare, first son of the late Joseph Hoare's third wife Margaret Satterthwaite, took over the Bank.

In 1744 Samuel Hoare married Grizzle Gurnell. They lived in Cork for a few years then moved to London, where Samuel Hoare went into partnership with Grizzle's father (Jonathan Gurnell) in the Bank.

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Pikes Bank

1770 - 1826

When Samuel Hoare left for London, relations (for whom we have no records of) looked after the Bank in Cork. Then shortly after, the Pike Family took over the running of the Hoares Bank completely.

It was Ebenezer Pike (1724) and Samuel Pike (1726), sons of Richard Pike (1696) and Mary Randall, who carried on the Hoares Bank. They continued the Bank in 1770 and it was known as Pikes Bank.

Five years before the Pikes Bank was set up, Ebenezer Pike (1724) had married Anne Pim in 1765. They had two sons and two daughters. The eldest son Richard Pike (1766) died in Cork in 1782. The second son Joseph Pike (1768) married twice, died in 1826. The eldest daughter Mary Pike (1769) died in 1852. And finally Elizabeth Pike (1771) died in 1855 at Kilnock Co. Carlow.

Anne Pim's father, John Pim, went into partnership with Ebenezer Pike (1724) and Samuel Pike (1726), but John Pim died suddenly in 1780, so Richard Pike (1739), who was another brother of Ebenezer Pike and Samuel Pike, joined the firm. As a result of this, the name of Hoares Bank was changed to Eben, Sam, and Rich, Hoare's Lane.

On the 5th of March 1785, Ebenezer Pike (1724) died and his two brothers carried on the Bank. Because of this death, the name of the Bank changed again to Samuel and Richard Pike, Hoare's Lane, North Main Street, Cork.

In 1769, Samuel Pike (1726) married Catherine Hutchinson. They had three children Samuel Pike, Deborah Pike and Mary Pike. Samuel Pike (1773) died at the age of three. Deborah Pike (1774) died the same year, and Mary Pike (1776) died in 1832. (Mary Pike was the woman abducted by Sir Henry Browne Hayes in 1797.)

Samuel Pike (1726) died in 1796, so his nephew Joseph Pike (1768), who was the second son of Samuel Pike's brother Ebenezer Pike (1723), carried on the Banking Business with his uncle Richard Pike (1739). Again the name of the Bank was changed to Richard and Joseph Pike, Hoare's Lane. In 1800, Richard Pike (1739) retired from the Bank and so Joseph Pike (1768) continued the Bank until his death in 1826.

Before Joseph Pike died in 1826, there were failures in the Banks of the City of Cork, and an election ballot was held as to which Banks were to stay open and which were to close. Pikes Bank was the only Bank voted to stay open, with Leslie Bank and Roches Bank closing because of debt.

During the excitement of the election and the closing of the Banks, Joseph Pike, while working at the Bank, died on the 28th of February 1826.

The Bank was to close for a few days while the Will was to be taken out, but the Bank closed for good. The Pikes Bank Notes and Gold Coins were put into the new Bank of Ireland and the Pikes Bank debtors were paid in full.

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