George Cole was called to serve as principal of Bannock Academy in 1894. The Academy was still struggling financially and was constantly at risk of having to be closed. One year, Principal Cole and the other four teachers at the school taught the last half of the term without pay, accepting homegrown produce from students as tuition so they could still have food to feed their families.

Even under those circumstances, seventh and eighth grade programs were implemented in the school under Cole's tenure. He served as principal and teacher until 1899.