Bankend was first settled by pioneers in the 1880s. It was named after Bankend, Scotland; home of one of the school district founders. By the early 1900s a larger population required the need for a school, which was built in 1906 and opened in 1907. In the 1920s the CPR line was extended from Foam Lake to Bankend. The town continued to grow with stores, restaurants, garages, and a hotel. At its peak, there were four grain elevators in the town. Its population was 58 in 1905, 125 in 1955, and over 100 until the 1970s. Today only a handful of people remain and virtually all the businesses are closed.