As a result of the Stolypin agrarian reform, banking institutions appeared in the provincial centers that regulated the supply and demand for land. Within the borders of the Poltava province, such an institution became the Noble and Peasant Bank. The two-story building made of decorative red brick contains elements of ancient Rus architecture and corresponds to the general direction of the Art Nouveau style of the beginning of the 20th century. The facade of the building is decorated with mosaic panels and colorful ceramic inserts. The main entrance is decorated with a two-slope arched wing, in the niches of which there are statues of birds of paradise, which, according to legend, bring happiness and prosperity. Since 1937, the building was occupied by the regional branch of the State Security Committee (KGB), and in 1991 by the regional branch of the Security Service of Ukraine (SBU).
The building belongs to rare examples of architectural modernism and is an architectural monument of national significance.