The Farmer's Bank was formed in 1835 by George Truscott and John Cleveland Green in York (now Toronto, Ontario), Upper Canada. The cashier and general manager of Farmer's Bank was Sir Francis Hincks, a journalist and colonial administrator. The bank was taken over by the Hon. John Elmsley in a bitter proxy battle leading Hincks and other investors to found the Bank of the People. A Royal Commission concluded that the Farmer's bank collapse in 1910 was caused by mismanagement, gross extravagance, incompetence, dishonesty and fraud.