Bank of Alberta

This article is about the defunct private bank. Not to be confused with ATB Financial.

Bank of Alberta

Founded	1984
Founder	Charles Allard Eugene Pechet
Defunct	1988
Fate	Merged with Western & Pacific Bank
Successor	Canadian Western Bank
Headquarters	Edmonton, Alberta , Canada

The Bank of Alberta was a bank based in Edmonton, Alberta, Canada from 1984 to 1988.[1] It was formed during the early 1980s recession in Canada, a challenging economic environment that pushed many competitors to rein in their activities in key western markets.[1] As a result, the bank ultimately had a significant impact on the evolution of modern banking in Western Canada.[2]

History

When the bank commenced operations in 1984 it was led by Canadian Business Hall of Fame member Dr. Charles Allard[1][3] and Eugene Pechet,[1][3][4] starting with three employees working out of a boardroom located in one of Pechet's hotels in Edmonton, Alberta.[4] The Government of Alberta supported the newly formed Bank of Alberta by investing in 5% of its shares.[5]

In 1988, the Bank of Alberta merged with Western & Pacific Bank to form Canadian Western Bank (CWB).[1]

See also

• List of banks in Canada

References

1. "About Us: Our Story". Canadian Western Bank Group. Retrieved 10 November 2015.
2. Dale Orr (1974). "The Economic Determinants of Entry into Canadian Banking: 1963-7". The Canadian Journal of Economics. 7 (1): 82–99. doi:10.2307/134216. JSTOR 134216.
3. "Canadian Western Bank celebrates 20th birthday". Investment Executive. March 22, 2004. Retrieved 10 November 2015.
4. "Canadian Western Bank Group, Annual Report 2008, Page 20" (PDF). Canadian Western Bank Group Corporate Website. Canadian Western Bank Group. Retrieved 10 November 2015.
5. "Reports on Legislative Activities" (PDF). Canadian Parliamentary Review. 7 (3). Autumn 1984.