It was previously known as the Regional Special Events Center, or "RSEC", until the name was changed on September 17, 2010, following a $3.3 million donation from Community Financial Services Bank to Murray State Athletics.

While the CFSB Center is commonly used for basketball, it was designed as a multi-purpose facility that also frequently hosts concerts, trade shows, and conventions.

While Racer Arena was structurally sound (it still stands and is now used for volleyball), it was growing increasingly obsolete, and its capacity of 5,500 proved too small for the men's basketball program.

RSEC officially opened on September 12, 1998, but the first event was actually the Kentucky Baptist Youth Conference in June 1998, which took place before construction was completed.

[6] Community Financial Services Bank made a $3.3 million donation to Murray State athletics in September 2010 in exchange for naming rights to the Regional Special Events Center.

Since the building was constructed as a multi-purpose facility, the other events held at the CFSB Center often restrict the amount of court time available to the Murray State basketball teams.

The expansion plan calls for a new practice facility attached to the CFSB Center that will give both men's and women's basketball teams unlimited access to courts.

[7] Relocation of the MSU Athletics Hall of Fame to the CFSB Center was completed in Summer 2011, and Hastings & Chivetta was selected as the architect for construction of the new practice facility and coaching office space.

These rooms not only serve as the place where officials will come to prepare for games, but also as production offices for concerts and other special events.

During the February 18, 2012 game between the Racers and the Saint Mary's Gaels, peak noise levels of 138 dBA were measured in the CFSB Center.