The intention was that a bank would be established with capital of £500,000 in one thousand shares of £500 with £100 per share called up.  It was thought that by dividing their capital into comparatively low priced shares the promoters would attract all classes of the community as Partners.  As £500 in 1825 equates to roughly £42,500 in current times it seem very likely that the promoters were very keen to attract only "the support of their own class of landed proprietors."

The first meeting of these gentlemen was held in the New Inn, Aberdeen on 14th January 1825.  It was reported that demand for shares - chiefly from the mercantile and manufacturing classes - had exceed the number available and the capital was increased to £750,000 in 1,500 shares of £500.

The Governor was Lieut. General William Burnett of Banchory Lodge; the Cashier Alexander Mitchell who was attracted from the Royal Bank of Scotland, Edinburgh and Alexander Foulerton of Aberdeen was appointed Secretary.

The Royal Bank of Scotland was appointed as the Bank's Edinburgh Agent with the London Agent being Messrs. Jones Loyd & Co.  The London Agent was replaced in 1844 by the London Joint Stock Bank.

The Bank opened for business on 15th June 1825. During the early years the Bank was constantly troubled by bad debts, which in every balance sheet swallowed up a disproportionate amount of the profits.  In 1833 the failure of the linen firm Maberly & Co. caused the Bank heavy losses.

Limited liability status was adopted in 1882.

The Town & County Bank Limited merged with the North of Scotland Bank in 1908 to form the North of Scotland Town & County Bank Limited.

The following officials have been identified from letters in the collection.  Where possible notes have been added.

William Brown.  As per letter of 15th June 1825 to Perkins & Heath.  Position not yet identified.