The Pax Bank opened in 1915  as a privately owned institution. Stockholders were typically long-time residents, local landowners and farmers. In 1920 Pax was incorporated as a town.

Pax’s prosperity at the time was closely tied to and encouraged by the developing mining industry and transportation lines in the area. Pax was on the main line of the Virginian Railroad at the junction of the Kanawha Glen Jean and Eastern Railway. The Virginian Railway also established shops just above Pax. Spurring even greater confidence in the town was the move in 1923 to build a road from Mt. Hope to Pax to accommodate vehicular traffic. Pax was, therefore, made accessible both rail and automobile.

Landowners in the area experienced a relative affluence, creating feelings of confidence which lead to the formation of the bank. Despite the high hopes for the community the Pax Bank did not survive the stock market crash of 1929. 

The building was constructed of native stone which was quarried locally. Currently the structure bears the sign “Hunter Furnished Apartments” bearing the name of one of Pax’s most influential citizens, Dr. Hunter.