Upon completion in February 1932, the Valley Bank moved into the bottom three floors with medical offices occupying the top seven.

This floor differs slightly from the rest of the building, as it is mostly glass and it is attached to the central core tower by a 45 degree angled cantilever.

(In the opening shot of Alfred Hitchcock's 1960 film Psycho, the building along with the rotating sign can be seen as the camera pans across the then-skyline of downtown Phoenix.)

In 1972, the Valley Bank moved across the street to the tallest skyscraper in the state, its newly built headquarters, now known as Chase Tower.

[4] The building was renovated from 2014 to 2015, with assistance from the Phoenix Community Development & Investment Corporation and the New Markets Tax Credit Program, and opened in December 2015 as a Hilton Garden Inn.