The contract to build George Bancroft was awarded to the Electric Boat Division of General Dynamics Corporation in Groton, Connecticut, on 1 November 1962 and her keel was laid down there on 24 August 1963.

Her first deployment began with her departure from New London on her first deterrent patrol on 26 July 1966, manned by the Blue Crew.

A few weeks later, George Bancroft got underway for her second deterrent patrol, manned by the Gold Crew, which ended toward the close of the year.

Her scrapping via the Nuclear-Powered Ship and Submarine Recycling Program at Bremerton, Washington, was completed on 30 March 1998.

George Bancroft's sail is on display at Naval Submarine Base Kings Bay, Georgia.