Bank of Montreal’s first bank acquisition was the Montreal-based Bank of Canada in 1831.

Bank of Montreal’s first bank acquisition was the Montreal-based Bank of Canada in 1831.

The purchase of the Bank of the People In 1838 enabled us to expand into what is now southern Ontario. This bank note not only expresses its value in both dollars and pounds sterling, but also in English, French and German.

Looking to expand our presence in Atlantic Canada, we purchased the Exchange Bank of Yarmouth in 1903.

In 1905 we acquired another Maritime bank, The People’s Bank of Halifax.

People’s Bank of Halifax $10 note.

People’s Bank of Halifax $20 note.

In 1906 we purchased the People’s Bank of New Brunswick.

People’s Bank of New Brunswick, $50 note.

People’s Bank of New Brunswick, $2 note.

Following reckless mismanagement by one of its general managers, who had lost $1 million in the stock market, the Ontario Bank, with 22 branches in Ontario and Quebec, was sold to Bank of Montreal in 1906.

The Bank of British North America operated in Atlantic and Central Canada as well as Newfoundland, but was run from London, England. Finding this arrangement increasingly difficult to manage, the bank’s board decided to sell to Bank of Montreal in 1918.

1908 Merchant’s Bank Annual Report.

Merchants Bank $50 note.

Merchants Bank share certificate, 1848.

Merchants Bank savings certificate, 1877.

Bank of Montreal purchased the Molsons Bank in early 1925. Our connection with the family went back to the earliest days of the bank. John Molson participated in the management of the young Montreal bank and eventually became its president.

There was considerable interest in the sale of the Newfoundland Savings Bank in 1962. It went to the highest bidder, Bank of Montreal.