In c.1815, the building that is now 124, Guildford Street in Chertsey was built by Thomas Willats, a prosperous grocer, tallow-chandler and tea-dealer. The premises were used as a grocery store. His son, Henry Thomas Willats, founded Godley Bank in c.1833 (presumably trading from the same premises). The bank drew on Sir John William Lubbock Bart. & Co., as their London agents.

Henry Willats died in 1835, preceding his father by two years. It is therefore probable that the bank ceased trading between 1835 and 1837.