Home Bank of Canada
| Industry | Bank |
|---|---|
| Predecessor | Toronto Savings Bank/Home Savings and Loan (1854-1903) |
| Founded | July 10, 1903 |
| Defunct | August 18, 1923 |
| Headquarters | , |
The Home Bank of Canada was a Canadian bank that experienced meteoric growth from its start in 1903 to its sensational and costly collapse in 1923. Its collapse shattered pubic trust in banks and encouraged growth in bank reform sentiment among the powerful farmer organizations of the time.
It was incorporated July 10, 1903, in Toronto but did not receive a Treasury Board certificate to operate as a chartered bank until the next year.
It succeeded the earlier Toronto Savings Bank, which had been founded in 1854 by Bishop Armand-François-Marie de Charbonnel and the local chapter of the Society of St. Vincent de Paul and later Home Savings and Loans in 1871. The failure of Home Bank on August 18, 1923, was the subject of a Canadian Royal Commission initiated by Prime Minister William Lyon Mackenzie King in 1924.
Founded with the support of the Roman Catholic Church, James Mason and Henry Pellatt represented a benign board of directors including E.G. Gooderham, Claude Macdonnell and three other directors from Winnipeg, Manitoba, affiliated with the United Grain Growers.