The bank was built in the period of optimism immediately following Oklahoma's statehood on November 16, 1907.

Settlers considered the county to be an agricultural paradise, and logging was an important industry in the Albion region.

Continued and enduring prosperity eluded Albion, however, and in approximately 1927 banker Bailey transferred the bank to Talihina, Oklahoma.

(John Melvin) Armstrong, another prominent Albion businessman, purchased it and opened a grocery store.

The architectural survey noted the bank's “considerable integrity” due to remaining “structurally sound and essentially unaltered” and recommended it successfully for inclusion on the National Register of Historic Places.