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Industry | Banking |
---|---|
Founded | 1872 |
Defunct | 1924 |
Fate | Merged into the Canadian Bank of Commerce |
Headquarters |
The Bank of Hamilton was established in 1872 by local businessmen in the city of Hamilton, Ontario, Canada under the leadership of Donald McInnes, the bank's first President. Like the other Canadian chartered banks, it issued its own paper money. The bank issued notes from 1872 to 1922. The end dates are the final dates appearing on notes, which may have circulated for some time after.
The bank had a rough start, including near bankruptcy during the summer of 1879 when six banks in the area had to suspend activities due to financial difficulties. On August 1, 1879, the bank would run into further difficulties when its headquarters burned down; however, the bank would go on to thrive.
On July 29, 1896 the Bank of Hamilton's first Winnipeg branch opened. By December 1898, six more branches were opened in Manitoba. This marked the beginning of two decades of explosive growth in the West. In total, between 1898 and 1910, the Bank of Hamilton would go on to open 128 branches throughout Ontario and Western Canada. By 1928, this number had grown to 152 branches.
Like the other Canadian chartered banks, it issued its own paper money. The Bank of Canada was established through the Bank of Canada Act of 1934 and the banks relinquished their right to issue their own currency.
By 1905 the bank was doing so well that it decided to expand its head office, adding on an additional 8 storeys. This is significant because the bank headquarters became Hamilton's first skyscraper on the corner of King and James Street. This tall building attracted the attention of Harry H. Gardiner of Washington, known as the Human Fly. He climbed the Bank of Hamilton building on November 11, 1918, to celebrate the end of World War I.
The Bank of Hamilton operated an ice hockey team in the Winnipeg Bankers' League, which included its local employees and was coached by branch manager H. J. Sterling. [1]
The Bank of Hamilton merged with the Canadian Bank of Commerce (later to become the Canadian Imperial Bank of Commerce, or CIBC) on January 2, 1924. It was one of the last surviving banks in Canada that was not headquartered in Toronto or Montreal.
Thirty-five members of the Bank of Hamilton from branches across Canada died as a result of their World War I service. Their names were listed on a bronze memorial plaque which is currently displayed at the former Bank of Montreal (1928) building in Hamilton, Ontario.
A number of buildings constructed for, or used by, the Bank of Hamilton are on the Registry of Historical Places of Canada.
The Canadian Imperial Bank of Commerce is a Canadian multinational banking and financial services corporation headquartered at CIBC Square in the Financial District of Toronto, Ontario. The Canadian Imperial Bank of Commerce was formed through the 1961 merger of the Canadian Bank of Commerce and the Imperial Bank of Canada, in the largest merger between chartered banks in Canadian history. It is one of two "Big Five" banks founded in Toronto, the other being the Toronto-Dominion Bank.
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The Dominion Bank was a Canadian bank that was chartered in 1869 and based in Toronto, Ontario. On February 1, 1955, it merged with the Bank of Toronto to form the Toronto-Dominion Bank.
The Canadian Bank of Commerce was a Canadian bank that operated from 1867 to 1961. It merged in 1961 with the Imperial Bank of Canada to form the Canadian Imperial Bank of Commerce, which today is one of Canada's Big Five banks.
The Bank of Toronto was a Canadian bank that was founded in 1855 by a group of grain dealers and flour millers. On February 1, 1955, it merged with the Dominion Bank to form the Toronto-Dominion Bank. Its first president was James Grant Chewett, whose support was sought by financier Thomas Clarkson.
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CIBC Tower is a 187 m (614 ft) 45-storey skyscraper in Montreal, Quebec, Canada. The International Style office tower was built by Peter Dickinson, with associate architects Ross, Fish, Duschenes and Barrett, and was the city's tallest building from 1962 to 1963. The building holds offices for the Canadian Imperial Bank of Commerce, the corporate law firm Stikeman Elliott, the Canadian accounting firm MNP LLP, as well as numerous other businesses.
The Canadian Imperial Bank of Commerce Building is a building at 265 Saint-Jacques Street in Montreal, Quebec, Canada.
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A routing number is the term for bank codes in Canada. Routing numbers consist of eight numerical digits with a dash between the fifth and sixth digit for paper financial documents encoded with magnetic ink character recognition and nine numerical digits without dashes for electronic funds transfers. Routing numbers are regulated by Payments Canada, formerly known as the Canadian Payments Association, to allow easy identification of the branch location and financial institution associated with an account.
The Union Bank of Canada was a Canadian chartered bank which operated 1865–1925, primarily in the Canadian Prairies.
Russell Edward Harrison was a Canadian banker who served from 1973 to 1976 as president and from 1976 to 1985 as chairman of the board of the Canadian Imperial Bank of Commerce. After serving with the 1st Canadian Parachute Battalion in World War II, Harrison joined the Canadian Bank of Commerce in November 1945 in Winnipeg. Beginning in 1953, Harrison held several managerial position with the Bank of Commerce in Ontario and Quebec, and after its merger with the Imperial Bank of Canada in June 1961, with the new Canadian Imperial Bank of Commerce. In 1969, Harrison was appointed an executive vice-president at the bank's head office in Toronto, and in 1970 was elected a director. In December 1973 he succeeded Jeffery Page Rein Wadsworth as the bank's president, and in December 1976 succeeded Wadsworth as chairman of the board. Harrison retired as chairman in January 1985. He died on 5 January 2014 at age 92.