Security Trust was built in 1928 by John and Donald Parkinson, the duo responsible for some of Los Angeles's most notable landmarks, including Union Station and the Memorial Coliseum.

Originally a one-story bank building with three attached one-story storefronts, Security Trust features a Beaux-Arts design, with the bank building's central entryway flanked by two colossal Corinthian columns.

[2] In 1984, the Hollywood Boulevard Commercial and Entertainment District was added to the National Register of Historic Places, with Security Trust and its attached storefronts listed as a separate contributing properties in the district.

[1] In 1995, the Church of Scientology bought the building for $1.6 million ($3.2 million in 2023), to be owned by church affiliate Author Services Inc.

The building is currently used for readings of L. Ron Hubbard's pulp fiction and also to house a library of Hubbard's novels and short-story collections.