The portrait was found in the vault of the bank he founded – now a NatWest branch – which sent it to art experts who have restored it to its former glory. After its facelift, current branch manager Richard Dixon proudly hung the painting on the wall at the weekend.

Mr Dixon said: "James Taylor is very important to the history of this branch, so my team and I wanted to have the painting restored and put on public display to remind us of how long we have been offering a banking service to the people of Bakewell.

"When James Taylor founded the bank in the 1800s he wanted the branch to be a very important part of the local community and this idea has continued with us making many customer service improvements over the years.

"It's great having the portrait on the wall, allowing us to appreciate our past as well as our future."

James Taylor, son of an East Retford bookseller, came to Bakewell in around 1801 to work in his brother-in-law's linen drapery business.

A bank was later founded in conjunction with the drapery at James' instigation, prompted by the need for cash required to pay weekly wages at Arkwright's cotton mill.