Quebec Bank was founded on June 9, 1818 to meet a perceived need by some merchants and residents of Quebec City. They wanted an alternative to the newly founded Bank of Montreal which they felt was inadequate for the needs of the province. A small reminder of the banks existence is the Quebec Bank Building in Montreal with its name carved over the entrance. On July 27, 2018, The Quebec Bank branch in Toronto, located at 50 King Street East, was designated under Part IV of the Ontario Heritage Act as being of cultural heritage value or interest.