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:
“From this elevation, just on the skirts of the clouds, we could overlook the country, west and south, for a hundred miles. There it was, the State of Maine, which we had seen on the map, but not much like that,—immeasurable forest for the sun to shine on, the eastern stuff we hear of in Massachusetts. No clearing, no house. It did not look as if a solitary traveler had cut so much as a walking-stick there.”
—Henry David Thoreau (1817–1862)
“A bank is a confidence trick. If you put up the right signs, the wizards of finance themselves will come in and ask you to take their money.”
—Christina Stead (1902–1983)