The banking house of Pettit, Montgomery & Co. was established April 1867 by A.H. Pettit and William A. Montgomery, who continued as partners until March 1, 1879, with the exception of an interval, November 1869-December 1870, during which Joseph E. Goss replaced Pettit in the firm and for that time known as Montgomery & Goss. On March 1, 1879 Pettit disposed of his interest to J.R. Henry, and the firm name became Montgomery & Henry. It was still in existence under this name in 1884. After that date there were apparently further changes of partnership for in the late 1890's and early 1900's the firm of Henry & Pritchard, Bankers, was in existence. A letterhead of this firm used for a letter dated March 26, 1897 carries the letterhead: Henry & Pritchard, Successors to Henry, Gray, & Co., Bankers.

In 1905 two banks were established in Gosport, the Gosport Banking Co. on May 26 and the Gosport Bank on June 23. These continued until 1922 in which year the Gosport Banking Co. became a state bank under the name Gosport State Bank, and the Gosport Bank changed its name to the Olde Gosport State Bank. In 1929 the latter was consolidated with the Gosport State Bank which continued its existence until its liquidation during the fiscal year July 1, 1944 to June 30, 1945.