One of the ten original branches of the Indiana State Bank, this building was designed by Edwin Peck and built by Hugh Pugh - who later built the Orange County Courthouse in Paoli - of native sandstone.

After the bank closed in the late 1890s, the building was used by a construction company, as a church, and as home to the Knights of Pythias. The New Albany Chapter of the American Red Cross moved their offices into the building in 1941, and remained here through 1982.

The photo below shows the building during its stint as a church; also visible is the steeple of First Presbyterian Church, a monumental building that once stood to the north of the bank.