The current structure is the third to be erected on the same plot, as the Bank of New York had previously erected buildings on the site in 1797 and 1858. 

Founded by Alexander Hamilton in 1784, the Bank of New York was New York City's first bank. The original structure was demolished in 1854 and replaced with a new one designed by Calvert Vaux. That too met the wrecking ball; the current building is the design of Benjamin Wistar Morris who created a restrained Renaissance style building. There are 8 murals painted by J. Monroe Hewlett illustrating scenes of the development of business and commerce at the turn of the century.

Built in Neo-Georgian and Colonial Revival styles.