Chartered in 1821, the Bank of Upper Canada was, until its demise in 1866, one of British North America's leading banks. It played a significant role in the development of Upper Canada - supplying currency, protecting savings and making loans - and aided Toronto's rise as the commercial centre of the colony. This building, opened in 1827, was the second home of the bank. Its design reflects the image of conservative opulence favoured by financial institutions of the time. The portico, designed by John G. Howard, a leading architect of the period, was added about 1844.