diff --git a/src/wallet/sqlite.h b/src/wallet/sqlite.h
--- a/src/wallet/sqlite.h
+++ b/src/wallet/sqlite.h
@@ -17,6 +17,14 @@
 private:
     SQLiteDatabase &m_database;
 
+    sqlite3_stmt *m_read_stmt{nullptr};
+    sqlite3_stmt *m_insert_stmt{nullptr};
+    sqlite3_stmt *m_overwrite_stmt{nullptr};
+    sqlite3_stmt *m_delete_stmt{nullptr};
+    sqlite3_stmt *m_cursor_stmt{nullptr};
+
+    void SetupSQLStatements();
+
     bool ReadKey(CDataStream &&key, CDataStream &value) override;
     bool WriteKey(CDataStream &&key, CDataStream &&value,
                   bool overwrite = true) override;
diff --git a/src/wallet/sqlite.cpp b/src/wallet/sqlite.cpp
--- a/src/wallet/sqlite.cpp
+++ b/src/wallet/sqlite.cpp
@@ -66,6 +66,55 @@
     }
 }
 
+void SQLiteBatch::SetupSQLStatements() {
+    int res;
+    if (!m_read_stmt) {
+        if ((res = sqlite3_prepare_v2(
+                 m_database.m_db, "SELECT value FROM main WHERE key = ?", -1,
+                 &m_read_stmt, nullptr)) != SQLITE_OK) {
+            throw std::runtime_error(strprintf(
+                "SQLiteDatabase: Failed to setup SQL statements: %s\n",
+                sqlite3_errstr(res)));
+        }
+    }
+    if (!m_insert_stmt) {
+        if ((res = sqlite3_prepare_v2(m_database.m_db,
+                                      "INSERT INTO main VALUES(?, ?)", -1,
+                                      &m_insert_stmt, nullptr)) != SQLITE_OK) {
+            throw std::runtime_error(strprintf(
+                "SQLiteDatabase: Failed to setup SQL statements: %s\n",
+                sqlite3_errstr(res)));
+        }
+    }
+    if (!m_overwrite_stmt) {
+        if ((res = sqlite3_prepare_v2(
+                 m_database.m_db, "INSERT or REPLACE into main values(?, ?)",
+                 -1, &m_overwrite_stmt, nullptr)) != SQLITE_OK) {
+            throw std::runtime_error(strprintf(
+                "SQLiteDatabase: Failed to setup SQL statements: %s\n",
+                sqlite3_errstr(res)));
+        }
+    }
+    if (!m_delete_stmt) {
+        if ((res = sqlite3_prepare_v2(m_database.m_db,
+                                      "DELETE FROM main WHERE key = ?", -1,
+                                      &m_delete_stmt, nullptr)) != SQLITE_OK) {
+            throw std::runtime_error(strprintf(
+                "SQLiteDatabase: Failed to setup SQL statements: %s\n",
+                sqlite3_errstr(res)));
+        }
+    }
+    if (!m_cursor_stmt) {
+        if ((res = sqlite3_prepare_v2(m_database.m_db,
+                                      "SELECT key, value FROM main", -1,
+                                      &m_cursor_stmt, nullptr)) != SQLITE_OK) {
+            throw std::runtime_error(strprintf(
+                "SQLiteDatabase: Failed to setup SQL statements : %s\n",
+                sqlite3_errstr(res)));
+        }
+    }
+}
+
 SQLiteDatabase::~SQLiteDatabase() {
     Cleanup();
 }
@@ -213,6 +262,8 @@
 SQLiteBatch::SQLiteBatch(SQLiteDatabase &database) : m_database(database) {
     // Make sure we have a db handle
     assert(m_database.m_db);
+
+    SetupSQLStatements();
 }
 
 void SQLiteBatch::Close() {
@@ -227,6 +278,43 @@
                 "SQLiteBatch: Batch closed and failed to abort transaction\n");
         }
     }
+
+    // Free all of the prepared statements
+    int ret = sqlite3_finalize(m_read_stmt);
+    if (ret != SQLITE_OK) {
+        LogPrintf("SQLiteBatch: Batch closed but could not finalize read "
+                  "statement: %s\n",
+                  sqlite3_errstr(ret));
+    }
+    ret = sqlite3_finalize(m_insert_stmt);
+    if (ret != SQLITE_OK) {
+        LogPrintf("SQLiteBatch: Batch closed but could not finalize insert "
+                  "statement: %s\n",
+                  sqlite3_errstr(ret));
+    }
+    ret = sqlite3_finalize(m_overwrite_stmt);
+    if (ret != SQLITE_OK) {
+        LogPrintf("SQLiteBatch: Batch closed but could not finalize overwrite "
+                  "statement: %s\n",
+                  sqlite3_errstr(ret));
+    }
+    ret = sqlite3_finalize(m_delete_stmt);
+    if (ret != SQLITE_OK) {
+        LogPrintf("SQLiteBatch: Batch closed but could not finalize delete "
+                  "statement: %s\n",
+                  sqlite3_errstr(ret));
+    }
+    ret = sqlite3_finalize(m_cursor_stmt);
+    if (ret != SQLITE_OK) {
+        LogPrintf("SQLiteBatch: Batch closed but could not finalize cursor "
+                  "statement: %s\n",
+                  sqlite3_errstr(ret));
+    }
+    m_read_stmt = nullptr;
+    m_insert_stmt = nullptr;
+    m_overwrite_stmt = nullptr;
+    m_delete_stmt = nullptr;
+    m_cursor_stmt = nullptr;
 }
 
 bool SQLiteBatch::ReadKey(CDataStream &&key, CDataStream &value) {