Originally known as The Bank of Giles and housed in 109 N. Main St., when the bank was reorganized and relocated to 101 N. Main St. in 1906, it was renamed The First Bank of Giles. The bank contributed to the economic growth and development of Pearisburg throughout the twentieth-century. After the bank closed, the building has housed multiple restaurants and now houses the Buckland Law Firm. The building, along with nineteen others that comprise the Pearisburg Historic District, was added to the National Register of Historic Places in 1992 for its historic commercial significance and for its unique Romanesque-style architecture.
Pearisburg has had a bank since the 1850s, when the Bank of the Old Dominion opened. However, the earliest surviving bank buildings are those used by The First Bank of Pearisburg. Though the bank was originally known as The Bank of Giles and housed in 109 N. Main St., the bank was reorganized and renamed when it was moved into the newly constructed bank at 101 N. Main St. in 1906. The lot was owned by local merchant C. C. Woolwine, who ran a local grocery store that has not survived.
William Woodrum (1878-1946), the son of Giles County treasurer Jesse Hale Woodrum (1851-1931), worked as the bank's bookkeeper. Jesse Woodrum was the Giles County treasurer from January 1st, 1899, until January 1st, 1920, when he was succeeded by W. W. Walker.
By the 90s, the First Bank of Pearisburg had closed its doors, and the building housed Eric's Restaurant. When the restaurant closed, it was replaced by the restaurant The Bank in 2005, which closed its door in 2014. Today, the building houses the Buckland Law Firm.
The building, along with nineteen other buildings that comprise the Pearisburg Historic District, was added to the Virginia Landmark Registry on December 11th, 1991, and the National Register of Historic Places on January 30th, 1992, for the impact the bank had on Pearisburg's growth and development in the twentieth-century and for the architecture.The two-story building has a relatively unique and sophisticated style for the local area, with its rock-faced concrete blocks in the Romanesque style, the monument arch on the front, and the arched windows on the side.