In 1835 a private banking corporation of Viger, De Witt and Compagnie of Montreal began business catering to the French-Canadian population. In 1843 they received a charter as La Banque Du Peuple .

In 1895 a cash clerk J.S. Bousquet agreed to 1,500.000 dollars of unguaranteed loans. When the news became known, the customers made a run on the bank trying to withdraw their monies. The bank collapsed after three days and Bousquet fled to the US.