Catch-and-release regulations designed to protect fisheries may fail to halt population declines, particularly in situations where fishing effort is high and when multiple stressors threaten a population. We demonstrate this claim using Alberta’s Bow River, which supports a high-effort rainbow trout (Oncorhynchus mykiss) fishery where anglers voluntarily release >99% of their catch. We examined the population trend of adult trout, which were tagged and recaptured using electrofishing surveys conducted intermittently during 2003–2013. We constructed Bayesian multisession capture–recapture models in Stan to obtain abundance estimates for trout and regressed trend during two periods to account for variation in sampling locations. General patterns from all models indicated the population declined throughout the study. Potential stressors to this system that may have contributed to the decline include whirling disease (Myxobolus cerebralis), which was detected for the first time in 2016, notable floods, and release mortality. Because disease and floods are largely uncontrollable from a management perspective, we suggest that stringent tactics such as angler effort restrictions may be necessary to maintain similar fisheries.