By 1903 the Tacoma-Eastern Railroad was rolling through Eatonville, toward the foothills of Mt. Rainier. It offered three tourist specials a day, complete with observation cars. The Eatonville Lumber Company sawmill, built in 1907, also relied on the railroad to transport lumber to market. Eatonville was establishing itself as a mill town and was ripe for a country bank.

Two men initially formed the Howard and Benston Private Bank, but in October of 1913, a larger group of investors chartered the Eatonville State Bank. This building was completed the following year, with its front door facing the intersection of Mashell Ave. and Groe St. (later re-named Center St.).

The building has been remodeled and expanded several times over the last century but has only changed ownership twice since 1913. That consistency over time has created a sense of confidence and financial stability for the Eatonville community.