The very first bank in the Fairfield area operated for only a short time. The Coey Brothers' Bank opened in 1895 with E. L. Moore acting as president. Since the post office, hotel and Coey mercantile Store were located at the Waverly and State Highway #27 intersection, it would seem that the bank was also located there.
The Bank of Fairfield was incorporated in 1908. It was organized by Henry Treede and some associates, with promotional assistance from J. H. Hughes of Reardan, who has promoted several Farmers and Merchants Banks in the Spokane area. The new bank had a small office in a frame building on the south side of Main Street. According to the maps, that would place it about where the current drug store is. The corner spot was taken up by a hotel and saloon. In 1906 the Adams & Company Store was built of concrete blocks on the north side of the street. Space for the bank was reserved in the southwest corner of this new building with a separate corner entrance. Owen Moss was the cashier. In 1912 a bank building was erected with construction supervised by Col. E. H. Morrison. construction extended from the bank corner up to and including the drug store. This new building, modern for its day, replaced several frame structures lost in the fire of that same year.
While all fires can be devastating, the fire of June 25, 1912, was especially so because it destroyed almost all of the city's business district. The fire destroyed the Post Office, Snell's Candy, the Hayward Building, the Darknell Building, Ebbert's Barber Shop, and Dr. Stultz's dental office. Dixon and Hanshew's store (located in the brick structure that still stands) and the Akland Building were the only buildings that remained.
The fire prompted many changes in the City of Fairfield, including organization of the city's first fire department. In August 1912, planning started on a new brick building that would house the Bank of Fairfield and several other burned-out businesses. Spokane architect, Kirkland Cutter, designed the new building. Kirkland Cutter's work includes the Davenport Hotel in Spokane and many other historic treasures. Efforts are underway to have his Fairfield Bank building placed on the National Historical Registry.
The Bank of Fairfield moved into its new home within the year. It remained at that location for over 70 years. The Bank moved into a new building and its current location in March, 1985.