It was originally constructed at the corner of Third Street and Boston Avenue as a ten-story headquarters building for the Exchange National Bank of Tulsa, Oklahoma in 1917, and expanded to its present dimensions in 1929.

The building sits on the west side of Boston Avenue and extends a full city block between Third and Fourth Streets.

The Beaux Arts-style building was designed by Oscar Wenderoth of the Chicago architectural firm of the Weary & Alford Company.

A longstanding urban myth regarding the pinnacle of 320 South Boston Building erroneously reported that the tower was designed as a Zeppelin mooring.

[8] The top of the building was illuminated for weather alerts, with flashing red lights in the event of an approaching storm.