[4] In its early years, the bank's operations were confined to Montreal, serving as a local financial institution.

[8] Sir Hugh Allan served as president of the company’s board of directors, which featured Hon.

John Hamilton as vice-president alongside directors D. Masson, Andrew Allan, Adolphe Roy, W.F.

In 1875, there were branches in Almonte, Beauharnois, Belleville, Berlin, Brampton, Chatham, Elora, Fergus, Galt, Gananoque, Granby, Hamilton, Ingersoll, Kincardine, Kingston, Levis, Lindsay, London, Mitchell, Montreal, Napanee, Orangeville, Ottawa, Owen Sound, Pembroke, Perth, Prescott, Renfrew, Sorel, St. Hyacinthe, St. John's (Quebec), St. Thomas, Stratford, Tilsonburg, Toronto, Walkerton, Waterloo (Ontario), Windsor, and Winnipeg.

John Abbott, appointed in 1883 to replace the late Sir Hugh Allan as a director of the Merchants' Bank of Canada, brought his legal expertise as a solicitor for the Canadian Pacific Railway to the board.

[12] At the beginning of 1900, Andrew Allan, brother of Sir Hugh Allan, was the president of the Merchants' Bank of Canada with H. Mackenzie as vice-president and George Hague alongside Thomas Fyshe as general manager.

The bank had 50 branches in total, with a 7 percent dividend rate, $2,777,274.00 notes in circulation, and $27,267,992.00 in assets as of 31 May 1899.

[10] With the acquisition complete, Canada saw its banking sector consolidated into just 17 major institutions overseeing the nation's economic matters.