This vernacular red brick structure replaced the original 1890s wood-frame bank. A stepped parapet and corbeled brick-work survive, although whitewashed garage doors have replaced the bank's formal entrance and large plate glass window. Former Elbert schoolteacher and school superintendent J. E. Mayer opened the bank in 1907 and carried many townspeople, farmers, and ranchers through hard times. With Mayer in charge the bank survived a flood in 1935, as well as several holdups, but closed when he retired in 1947. Shortly thereafter the single-story, rectangular building was converted to a garage, now stuffed with farm implements and tractor parts.