The Penny Savings Loan and Investment Company is located at the corner of James Brown Boulevard and Laney-Walker Boulevard. The bank was founded on September 10, 1910, by prominent Black businessmen. The bank’s initial success led to the construction of this three-story building in 1925. Designed by noted architect G. Lloyd Preacher, it served as an anchor of the “Golden Blocks” Business District. Unfortunately, the bank closed in 1928 due to financial struggles.

The building has largely been vacant since its closure.