The Sheffield & Hallamshire Savings Bank was founded in 1819. In 1860, the Bank moved to this building, designed by the architect T.J. Flockton. Early in the 20th century, the bank engaged in some small-scale expansion by opening several branches. It was not until after the Second World War that significant growth occurred as 15 new branches were established. The Trustee Savings Bank (TSB) Act of 1976 led to the restructuring of the savings banks the following year. As a result, Sheffield & Hallamshire became part of TSB of Yorkshire & Lincoln. The TSB Group PLC was established in 1986, Lloyds TSB following in 1995.
The building itself was Grade II listed in 1972 as an example of the Classical Revival style. According to Historic England, the building has:
- ashlar with hipped slate roof with two stone side wallstacks with dentilled cornices
- plinth, dentilled first floor cornice, modillion eaves cornice, balustrades
- central two-storey cubic block: three windows flanked by single-storey wings, single windows. The central block has three moulded round-headed margin glazed windows with mask keystones, and a balustrade with dies topped with urns
- ground floor bays designed by engaged Corinthian columns, with paired columns at the ends, and three C20th single pane windows with enriched triple keystones with masks
- across the front, a balustrade
- square wings with paired round and square Corinthian columns forming porticos with C20th glazed doors and overlights, in openings with enriched triple keystones.
An extensive refurbishment of the building was undertaken in 1974, but the façade was kept intact. The dentilled cross beam ceiling interior was also retained. This is evidenced from the above 1965 photograph in which the ceiling can be compared to the current day. By the late 1990s, the venue had become known as The Fraternity House. It then evolved into the Old Monk at the Fraternity House, before becoming simply The Old Monk. Camerons Brewery acquired the building in December 2015 and in April 2016, it opened as their eighth Head of Steam branded venue.