On Aug. 23, 1898, the first train rolled over the newly laid tracks on Joseph Prairie and into the town of Cranbrook; an occasion of great pride and celebration for all concerned. Two days later, another event occurred which drew little of the excitement of the previous days but certainly did much to aid in the secure establishment of the young community.

On Aug. 25, 1898, The Canadian Bank of Commerce set up shop in a newly completed, narrow, two storied, timber frame structure on a rather sparsely populated Baker Street. The presence of a financial institution sent a strong message: Cranbrook was not just another fly-by-night settlement. Cranbrook had the railway, Cranbrook had a bank.

Remodeling of the partially completed bank-to-be began in July 1898 in the hopes of opening as soon as possible. In early August two bank safes arrived weighing in at 2000 and 5,000 pounds, a must for any financial institution worth its salt. When signmaker Fred Piper completed the wooden sign for the bank "with letters gilded, perfectly formed and placed symmetrically on the signboard," the local newspaper crowed appropriately. Bank manager J.W. Smythe and his staff arrived on the evening of Aug. 24 and opened the next morning and the floor quickly crowded with local businessmen. The building was a work in progress with outdoor awnings added in early September, living quarters for the staff installed upstairs later that month and exterior sheathing applied in November, two weeks after the burgeoning town received its first snowfall.

By December, 1899, the bank was well established in the city. Manager Smythe remarked, "A great change has taken place. The chief money in circulation a year ago was that of paid labor on the Crows Nest Pass railway under construction. In Cranbrook there was little or no business that was not dependent upon that. As that decreased, business began to come from other points, so there was no stoppage. At the present time both of our Cranbrook and Ft. Steele branches are witnessing a large amount of capital [for mining] from New York, Montreal, Toronto, Spokane and the West Kootenay."

Renovations to the existing structure in 1901 included a first floor ceiling raised seven feet, large plate glass windows at the front and the removal of the staff to permanent living quarters at a local residence.

The concept of a new building, rumoured in discussions since 1900, became a reality in 1904, when F.E. Simpson, local Herald newspaper publisher, sold 90 feet of his recently purchased 115-foot lot to the Bank of Commerce; choice real estate sitting on the northeastern corner of Baker and Cranbrook Street. The remaining 25 feet became the site of the third (and final) Herald office.

The Bank of Commerce released tentative plans for their new building, a two story brick and stone structure facing Cranbrook Street. Newspaper publisher Simpson praised the design as "the right kind of start in the construction of the better class of buildings in the town."

Owing to delays in obtaining detailed plans & specifications, importation of brick and stone, lack of available labour and the advancement of the season, construction was postponed until the spring of 1905. Tenders were called in March of that year and the contract awarded in May to the Broley Bros. of Fernie (who would later construct both the Fernie and Kamloops courthouses).

Work commenced on the morning of July 5, 1905, with the stone foundation completed in early August. Although concerns over the quality of bricks caused slowdowns, by October the building was beginning to take shape.

It was February of 1906 when the staff moved into their new quarters. The Canadian Bank of Commerce was quite a sight for Cranbrook, quite a sight for the East Kootenay, in fact. The Greek Revival edifice spoke of solidarity and sophistication and was a major source of pride within the community. Two stories in height, with the bank itself on the first floor and the second fitted with five bedrooms, a sitting room and a bath for staff members, the structure graced the main intersection in stately repose. By late March not only were the upper signs in place but so too were a host of sparrows, appearing seemingly overnight to claim residence. The exterior window awnings came in April and the handsome lamp posts on each side of the entrance in June. In November the bank scored a first in the city with the laying of exterior cement sidewalks.

The Second World War proved costly for banks in general; manpower was limited and money was tight. The local branch was forced to close but the building did not remain idle for long as the Royal Bank of Canada, a local institution since 1909, soon moved in. The name reappeared locally again in 1961 when the Imperial Bank of Canada and the Canadian Bank of Commerce amalgamated to form the Canadian Imperial Bank of Commerce.

In 1967, as Canada celebrated her centenary, the Royal Bank announced plans for the construction of a new modern building on the site. "The office will be in the latest concept of bank design," stated manager E.D. Teetzel. Demolition of the noble old building and the former Herald newspaper office to the immediate east began in late 1967 and by 1968 the once proud Bank of Commerce building was naught but a memory. Thus ended the survival of the fine Greek Revival, made by its rival a poor financial ruin.

Endnote: The Registry of Historical Places of Canada lists over 20 Bank of Commerce buildings constructed across Canada in the early 1900s and still standing today -including Vancouver, Winnipeg, Vernon, Nanaimo, Innisfree, Medicine Hat, Taber, and Ft. McLeod.