Eastern Townships Bank
Encyclopedia
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| Eastern Townships The Eastern Townships is a tourist region and a former administrative region in south-eastern Quebec, lying between the former seigneuries south of the Saint Lawrence River and the United States border. Its northern boundary roughly followed Logan's Line, the geologic boundary between the flat,... , Quebec Quebec Quebec or is a province in east-central Canada. It is the only Canadian province with a predominantly French-speaking population and the only one whose sole official language is French at the provincial level.... , Canada Canada Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean... |
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| Canadian Imperial Bank of Commerce The Canadian Imperial Bank of Commerce is one of Canada's chartered banks, fifth largest by deposits. The bank is headquartered at Commerce Court in Toronto, Ontario. CIBC's Institution Number is 010, and its SWIFT code is CIBCCATT.... |
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
Quebec
Quebec or is a province in east-central Canada. It is the only Canadian province with a predominantly French-speaking population and the only one whose sole official language is French at the provincial level....
, an area known as the Eastern Townships
Eastern Townships
The Eastern Townships is a tourist region and a former administrative region in south-eastern Quebec, lying between the former seigneuries south of the Saint Lawrence River and the United States border. Its northern boundary roughly followed Logan's Line, the geologic boundary between the flat,...
, and issued its own banknote
Banknote
A banknote is a kind of negotiable instrument, a promissory note made by a bank payable to the bearer on demand, used as money, and in many jurisdictions is legal tender. In addition to coins, banknotes make up the cash or bearer forms of all modern fiat money...
s.
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
Grand Forks, British Columbia
-Schools:Schools in the region are operated by School District 51 Boundary which has its main office in Grand Forks but also serves Midway, Greenwood, Beaverdell, and Rock Creek....
and Taber, Alberta
Taber, Alberta
Taber is a town in southern Alberta, Canada in the Municipal District of Taber. Taber was established in the late 1890s by European settlers on the banks of the lower Oldman River. It is an agricultural town of 7,821 famous for its corn due to the large amounts of sunshine the town and area receive...
). 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
Canadian Bank of Commerce
The Canadian Bank of Commerce was a Canadian bank cofounded in 1867 by William McMaster. The Canadian Bank of Commerce opened in Toronto with a charter in 1866 that it purchased from the defunct Bank of Canada, which folded in 1858....
, which later became Canadian Imperial Bank of Commerce
Canadian Imperial Bank of Commerce
The Canadian Imperial Bank of Commerce is one of Canada's chartered banks, fifth largest by deposits. The bank is headquartered at Commerce Court in Toronto, Ontario. CIBC's Institution Number is 010, and its SWIFT code is CIBCCATT....
.
The former branch of the Eastern Townships Bank at the corner of Saint Catherine Street
Saint Catherine Street
This article is about the street in Montreal called the rue Sainte-Catherine in French. For other streets of this name, see Rue Sainte-Catherine ....
and Crescent Street
Crescent Street
Crescent Street is a southbound street located in downtown Montreal, Quebec, Canada. Running perpendicular to Saint Catherine Street, Crescent Street descends from Sherbrooke Street south to René-Lévesque Boulevard....
in Montreal
Montreal
Montreal is a city in Canada. It is the largest city in the province of Quebec, the second-largest city in Canada and the seventh largest in North America...
is now the flagship store for Parasuco
Parasuco
Parasuco is a Canadian clothing company, best known for its denim jeans. Based in Montreal, the company is famous for its provocative advertising and fit on jeans...
, 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.
Presidents
- Benjamin Pomroy 1859-1874 - founder
- Richard William Heneker 1874-1902 - prominent businessman in Eastern Townships and Mayor of Sherbrooke, QuebecSherbrooke, QuebecSherbrooke is a Canadian city in southern Quebec. Sherbrooke is situated at the confluence of the Saint-François and Magog rivers in the heart of the Estrie administrative region. Sherbrooke is also the name of a territory equivalent to a regional county municipality and census division of...
- William Farwell 1902-1912 - last president and Mayor of Sherbrooke, QuebecSherbrooke, QuebecSherbrooke is a Canadian city in southern Quebec. Sherbrooke is situated at the confluence of the Saint-François and Magog rivers in the heart of the Estrie administrative region. Sherbrooke is also the name of a territory equivalent to a regional county municipality and census division of...