During the depression years, the Powell River Company requested a loan from the Bank of Commerce to undertake the expansion of their facilities. Unfortunately, the Bank of Commerce turned them down. The Company went to great lengths and expense to find a bank which would provide them with the required loan.

They eventually succeeded with the Bank of Montreal who built offices directly across the street from the Bank of Commerce's original location.

As with the other later buildings in townsite, the Company erected the Bank of Montreal with a mock Tudor exterior. The interior of the bank, however, was state-of-the-art Modern.

As part of the overall package, luxurious living quarters for the manager and his family were built on the second floor. A novel feature of this building is the inclusion of numerous "peep holes" between the two floors which allowed the manager to keep an eye on the activities of the bank below from his personal living quarters.