Bank of Toronto (Yellowknife) Bank of Toronto (Yellowknife) The Bank of Toronto is a historic cabin located in Old Town, Yellowknife, Northwest Territories, Canada. The log cabin was constructed in 1939 by John Stakson an expert log builder in the commercial district of the Yellowknife community for use as a residence. In October 1944, the Bank of Toronto purchased the cabin and opened a new bank for the community, joining the Bank of Commerce (Yellowknife's first bank in 1938). The bank arrived in Yellowknife in response to new financial activity brought about by the intersection of gold in shear zones at Giant Mine and
Yellowknife Yellowknife began with the discovery of diamonds north of the city in 1991. The last of the gold mines in Yellowknife closed in 2004. Today, Yellowknife is primarily a government town and a service centre for the diamond mines. On April 1, 1999, its purview as capital of the NWT was reduced when the territory of Nunavut was split from the NWT. As a result, jurisdiction for that region of Canada was transferred to the new capital city of Iqaluit. Consequently, Yellowknife lost its standing as the Canadian capital city with the smallest population. Yellowknife is on the Canadian Shield,