Style was everything in bank design at the turn of the 20th century, especially in Winnipeg. Main Street banks were crammed side-by-side and having the most distinctive, most expensive facade was a necessity to stand out.

The Bank of Toronto was a latecomer to Winnipeg in 1906 and opened in the Grundy Block on Main Street before purchasing a $66,000 plot of land to construct their own monumental banking hall.

Montreal architect H.C. Stone was hired and local contractors Kelly Brothers and Mitchell erected a $200,000 structural steel frame building over a concrete foundation. The classical detailing used in the bank’s design is typical for countless banks across Canada. Four Corinthian columns rise up to the fourth storey entablature.

The banking hall interior, rising 15 feet, featured paneled walls and columns of polished white Italian marble bathed in natural light from a light well in the center of the building. Coffered ceilings, columned spaces and marble counters provided the atmosphere of a Roman temple.
Offices, finished in oak, on the upper floors could be reached by an elevator or by a marble-treaded staircase.

In 1946 the building was sold to Credit Foncier. The Ukrainian Canadian Committee purchased the building in 1958.