Whaling captains and crew upon returning to the island of Nantucket, would be flush with cash and goods and needed a safe and secure institution to hold their earnings. By the late 18th century, the depletion of the whale population in the Atlantic required whaling vessels to travel further and further in search of oil to fill the barrels in their holds. Ships began sailing to the Pacific and due to the distance, would be out at sea for years rather than months. Money from the Pacific voyages flowed back to the island, which soon required real banking facilities, and the Pacific Bank was established in 1804 and immediately prospered. The bank erected this stately brick building at the end of Main Street Square. Details such as the blind arches filled with sandstone panels that surround the building’s windows, the semi-circular Ionic entry portico and the high brown sandstone stoop with wrought-iron railings are unique on Nantucket and among the finest examples of their type in the region. Also interesting about the building is the fact that it contained living quarters for the cashier whose presence was intended to provide security. The building is now (of course) home to a Bank of America.
Buildings of New England 