Eastern Townships Bank was founded in 1859 by Colonel Benjamin Pomroy (1800-1875). It was the first financial institution in the south-east of Quebec, an area known as the Eastern Townships, and issued its own banknotes.
Within a year after its founding, the bank had opened three branches. After consolidating its presence in the Eastern Townships, it opened branches elsewhere in Quebec and in Western Canada (including Grand Forks, British Columbia and Taber, Alberta). By 1911, it had over 100 branches. To increase its presence on a national scale, its shareholders agreed to merge, effective March 1, 1912, with the Canadian Bank of Commerce, which later became Canadian Imperial Bank of Commerce.
The former branch of the Eastern Townships Bank at the corner of Saint Catherine Street and Crescent Street in Montreal is now the flagship store for Parasuco, a line of denim clothing.
The former head office building of the Eastern Townships Bank in Sherbrooke, Quebec is now an art museum, the Musée des beaux-arts de Sherbrooke.
Read more about Eastern Townships Bank: Presidents
Famous quotes containing the words eastern and/or bank:
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When daylight comes, comes in the light;
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But westward, look, the land is bright!”
—Arthur Hugh Clough (1819–1861)
“Life is a long Dardenelles, My Dear Madam, the shores whereof are bright with flowers, which we want to pluck, but the bank is too high; & so we float on & on, hoping to come to a landing-place at last—but swoop! we launch into the great sea! Yet the geographers say, even then we must not despair, because across the great sea, however desolate & vacant it may look, lie all Persia & the delicious lands roundabout Damascus.”
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