[1] The Australian Joint Stock Bank was established with the discovery of gold in southern states in 1852 and opened branches on Queensland goldfields as they were discovered.

In 1862 a settlement was begun on the south bank of the river and by 1863, the township had been surveyed and the first lots of land sold.

The town prospered as a port and as a commercial and administrative centre, drawing business from nearby pastoral holdings and the sugar plantations being developed along the river.

[1] Although suffering a devastating cyclone in 1918, Mackay enjoyed a period of substantial growth through the 1920s and 1930s, when it was the fastest-growing town in Queensland.

In 1864, the Savings Bank Bill provided a government guarantee to protect trustees and deposits and to allow depositors to easily transfer accounts.

The Mackay branch then leased the Customs House until they moved to the former Australian Bank of Commerce building.

[1] Since 2014 the building has fallen into disrepair, after the Department of Heritage Protection forced builders to stop work because the owner Mr Arman hadn't applied properly to have repairs carried out.

[1] The front consists of a seven-bay colonnade, of which the central bay is slightly narrower, but contains the entry and features a projecting one-storey portal, the entablature of which is free standing.

The two central columns are positioned forward of the others as corner posts of the portal, the back of which is formed by square pillars topped by an arch.

[1] The Commonwealth Bank of Australia building was listed on the Queensland Heritage Register on 21 October 1992 having satisfied the following criteria.

Mackay, as an important sugar centre, made a major contribution to the economy of Queensland and to the development of the North in the late 19th century The Commonwealth Bank, by the quality of its design and construction, demonstrates the importance of this regional branch and the prosperity of the city at that time.

It was designed by one of Queensland's most influential architects and has aesthetic value as a prominent and finely detailed building that makes an important contribution to the townscape of Mackay[1] The place has a special association with the life or work of a particular person, group or organisation of importance in Queensland's history.

Stanley, who made a significant contribution to the development of the built environment in Queensland, both as the Colonial Architect and in private practice.