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The first bank in Islington was opened around 1907 by the United Empire Bank of Canada in former wooden home on the southeast corner of Dundas St W and Cordova Ave. The United Empire Bank was later taken over by the Union Bank in 1911 and moved into a brick building on the adjacent southwest corner of Dundas St W and Cordova Ave. The Union Bank was then absorbed by the Royal Bank of Canada in 1925 who replaced the structure with a modern bank-style brick building in the same location. The Royal Bank later moved to it's present location at 4860 Dundas St W. at the corner of Burnhamthorpe Crescent.