Bank of Alberta
{{Short description|Former bank based in Canada}}
{{about-distinguish|the defunct private bank|ATB Financial}}
{{Infobox company
| name = Bank of Alberta
| logo =
| caption =
| type =
| fate = Merged with Western & Pacific Bank
| successor = Canadian Western Bank
| foundation = 1984
| founder = {{ubl|
| defunct = 1988
| location_city = Edmonton, Alberta
| location_country = Canada
| area_served =
| key_people =
| industry =
| homepage =
| footnotes =
}}
The Bank of Alberta was a bank based in Edmonton, Alberta, Canada from 1984 to 1988. 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. As a result, the bank ultimately had a significant impact on the evolution of modern banking in Western Canada.{{cite journal|jstor=134216|title=The Economic Determinants of Entry into Canadian Banking: 1963-7|author=Dale Orr|journal=The Canadian Journal of Economics |year=1974 |volume=7|issue=1 |pages=82–99|doi=10.2307/134216 }}
History
When the bank commenced operations in 1984 it was led by Canadian Business Hall of Fame member Dr. Charles Allard{{cite news|title=Canadian Western Bank celebrates 20th birthday|url=http://www.investmentexecutive.com/-/news-23676|accessdate=10 November 2015|publisher=Investment Executive|date=March 22, 2004}} and Eugene Pechet,{{cite web|title=Canadian Western Bank Group, Annual Report 2008, Page 20|url=http://www.cwbankgroup.com/~/media/cwb%20group/documents/investor%20relations/annual%20reports/cwb_ar.pdf|website=Canadian Western Bank Group Corporate Website|publisher=Canadian Western Bank Group|accessdate=10 November 2015}} starting with three employees working out of a boardroom located in one of Pechet's hotels in Edmonton, Alberta. The Government of Alberta supported the newly formed Bank of Alberta by investing in 5% of its shares.{{Cite journal|url=http://www.revparl.ca/7/3/07n3_84e_zreport.pdf|title=Reports on Legislative Activities|journal=Canadian Parliamentary Review |volume=7 |issue=3 |date=Autumn 1984}}
In 1988, the Bank of Alberta merged with Western & Pacific Bank to form Canadian Western Bank (CWB).{{cite web|title=About Us: Our Story|url=http://www.cwbankgroup.com/about-us/who-we-are#tab1|publisher=Canadian Western Bank Group|accessdate=10 November 2015}}
See also
References
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Category:Banks established in 1984
Category:1984 establishments in Alberta
Category:Defunct banks of Canada
Category:Companies based in Edmonton