Previous the coming of the railroads in 1842, the Willimantic Savings Institute had been established at Windham Center. The Old Windham National Bank, organized ten years before, was famous for its frog-adorned bank notes, which portrayed Colonel Dyer at one end and Colonel Elderkin at the other, with the famous frogs rampant and militant in the center.

In 1854 the Windham Bank was robbed of $7,000 in currency and $15,000 in securities, which was recovered when the thieves were overtaken at Allyn's Point. This circumstance caused feeling of insecurity, and the old institution was removed to Willimantic in 1879.

A Modern History of Windham County, Connecticut.
Allen B. Lincoln, ed
Volume 1,
The S.J.Clarke Publishing Company, Chicago, 1920. pp 105-6