Then. "New Merchants Bank. Darling and Pearson, Architects," circa 1921. Another wwwebster sourced picture. 

A search of the online Toronto Archives using search term "Yonge King" yields a few pictures of the neither distinguished nor undistinguished predecessor of our 1921 building at this location. However, this Palladian gem stood — I'm guessing — until the early 1960s when it was demolished for the existing building, so it wasn't around for long; only about 40 years.

Late in 1921 The Merchants Bank ran into difficulties and was absorbed by The Bank of Montreal.
http://query.nytimes.com/gst/abstrac...89D95F458285F9

Now. September 2011.