Like many of the buildings constructed soon after the 1906 Earthquake and Fire, the Fugazi Bank Building is Classical Revival in style and is faced with terra-cotta. It was originally two stories with a small cupola. Sometime before 1914, the cupola was removed, and a third story was added.

A.P. Giannini was a member of the bank's board of directors before founding his Bank of Italy. Giannini later took possession of the building which became the headquarters of his Transamerica Corporation, founded in 1928 as a holding company for his several financial services companies.

The Fugazi Bank Building is in the Jackson Square Historic District and is now occupied by the Church of Scientology.