Despite financial scandals and collapse in the early 1890s, the QNB contributed substantially to the development of North Queensland, lending generously to mining, pastoral and sugar interests.

Verandahs to both levels at the front and sides, demonstrating what appears to be the first use of elaborately decorative cast-iron balustrading in North Queensland, were an important adaptation to the climate.

[2] The former Queensland National Bank, located on the northern side of Flinders Street Mall, is a two-storeyed rendered masonry building with a hipped corrugated iron roof and classical revival facade.

The ground floor has a timber framed glass entrance door with an arched fanlight, with a large sash window on the west and a casement on the east.

The rear of the building has a single- storeyed masonry wing, with a corrugated iron gable roof, which has had recent concrete block additions.

The east verandah tenancy has a long single-storeyed concrete block addition with a skillion corrugated iron roof.

[1] The first floor contains a kitchen at the rear, large offices opening onto the front and side verandahs, plaster ceilings, painted timber joinery and panelled doors with fanlights.

Its location demonstrates the development of Townsville as a port for the Ravenswood and Charters Towers goldfields and as the principal town in North Queensland at that time.

The quality of design and composition of classical elements are of considerable aesthetic value, and it is a fine example of the work of Queensland colonial architect FDG Stanley.

[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.

The quality of design and composition of classical elements are of considerable aesthetic value, and it is a fine example of the work of Queensland colonial architect FDG Stanley.