Bank Massad was founded in 1929 as the Massad Mutual Loans and Savings Company (Hebrew: מסד חברה הדדית להלוואות וחסכונות בע"מ) by Histadrut HaMorim (Israel's teachers' trade union).

Today it is a subsidiary of First International Bank (51%), jointly owned with Histadrut HaMorim.

The portion not sold to Bank Hapoalim was transferred to the ownership of "Masad Holdings" company, and members of the original institution became shareholders in the new company.

That same year, the bank received approval to become a member of the stock exchange.

The new administrative offices are situated in the stock exchange complex in Ramat Gan at 12 Abba Hillel Street.