| Founded | 1984 |
|---|---|
| Founder | |
| Defunct | 1988 |
| Fate | Merged with Western & Pacific Bank |
| Successor | Canadian Western Bank |
| Headquarters | Edmonton, Alberta , |
TheBank of Alberta was a bank based inEdmonton,Alberta, Canada from 1984 to 1988.[1] It was formed during theearly 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]
When the bank commenced operations in 1984 it was led byCanadian Business Hall of Fame member Dr.Charles Allard[1][3] andEugene Pechet,[1][3][4] starting with three employees working out of a boardroom located in one of Pechet's hotels in Edmonton, Alberta.[4] TheGovernment 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 formCanadian Western Bank (CWB).[1]
