New banks in Penticton

EDITOR’S NOTE: In recognition of Canada’s 150th anniversary, The Herald is reprinting historic stories from the South Okanagan focusing on the biggest news story of each year.

JULY 23, 1910: Bank of Montreal and Bank of Hamilton open branches in this Town.

This week will go down in municipal annals as a record one with the establishment of two new branches of well-known banking institutions in Penticton.

It was generally known that both these banks intended to open branches in Penticton, but few people had any idea that the branches of both banks would be established on practically the same day.

Mr. G.A. Henderson, manager of the Okanagan branches of the Bank of Montreal was here on Saturday last, looking for premises and on Wednesday the branch was opened on the corner of Main Street and Nanaimo Avenue.

Mr. B. Wilson, who is representing the interests of the Bank of Hamilton, was here on Monday, but the premises had then been already arranged for.

In fact, the management of the Bank of Hamilton has had Penticton in view since Mr. J. Turnbull, the general manager of the bank, visited this town four years ago.

This will make the sixth branch of the Bank of Montreal that Mr. Henderson has opened in the district.

The branch at Vernon was established in 1892 and since then branches have been opened at Armstrong, Enderby, Kelowna and Summerland.

Mr. Henderson has, himself, been connected with the Bank of Montreal since he left school and has served that institution in all parts of Canada, the United States and Cuba. It is understood that the local staffs of both banks will be principally recruited from the interior, although managers may be brought in from Vancouver. 1910 Prime Minister of Canada: Wilfrid Laurier

Premier of British Columbia: Richard McBride

Reeve of Penticton: E. Foley Bennett

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