The Old Guaranty Bank Building is architecturally significant within the context of downtown, because it is the most strikingly Classical of the commercial buildings lining Jefferson Street, and it is also significant because it is one of a very few in Lafayette Parish with Classical Revival architectural features. It is the only domed commercial building of its era in the city, and it is the only historic building to feature a turret supported by free-standing classical columns at the entrance. It was built in 1905 for the original Bank of Lafayette, which first opened in 1898 at the Old City Hall Building on 217 West Main Street. The Old Guaranty Bank building served its longest use as the downtown branch for Guaranty Bank. Today, it has been appropriately adapted to fit current demand, as a mixed use building that includes a popular local tavern at street level, and residential apartments on the second floor.