Northern Bank

The Northern Bank has been recognized as one of the earliest surviving structures along Moncton Street in Steveston, and as one of the first financial operations in the area.

The Northern Bank was constructed on Moncton Street in downtown Steveston in 1906 to house a branch of the Winnipeg-based Northern Bank. Absorbed by the Royal Bank in 1918, the building continued to be used as a financial institution until 1963. The Northern Bank illustrates the rise of Steveston as a commercial and industrial centre in the early part of the twentieth century, reflecting the growth of monopoly capitalism in the banking world in the west, as well as the rise of financial institutions parallel to the rise of prosperity in the agricultural and resource industries.

The building has value as Steveston's original and only bank, and as part of the pattern of commercial development along the main street. It is a reminder of the once thriving commerce in Steveston in the early part of the twentieth century when fishing, canning and agriculture were creating a boom in the local economy. The bank is an example of a prefabricated construction process developed by the B.C. Mills Timber and Trading Company and patented in 1904. The competitive nature of the banking industry meant that the early banks had to build quickly to capture local business. The prefabricated building has had turned columns added to present a classical facade to the street.