The building, associated with architect Vladyslav Horodetsky, is known as the former Public Bank. It was opened in 1864 and became one of the first banks in Cherkasy. It was established by representatives of local communities, merchants, and entrepreneurs who contributed to the city’s economic development. After World War II, the building housed a zincography and flat-printing workshop. Due to the materials used, which caused damage to the structure, the workshops were eventually moved. In the 1960s, the building became one of Cherkasy’s cultural and intellectual centers – it was here that the famous Ukrainian poet and journalist Vasyl Symonenko worked.

Today, it is home to the editorial offices of the newspapers „Cherkaskyi Krai” (formerly „Cherkaska Pravda”) and „Vechirni Cherkasy.” The Vasyl Symonenko Museum, opened in 1998, is also located here. The exhibition features personal belongings of the poet – his typewriter, manuscripts, hat, books, and other memorabilia. The building also houses the Folk Art Gallery – an exhibition space of the Cherkasy regional branch of the National Union of Folk Art Masters of Ukraine. The gallery hosts exhibitions of folk artists, craftsmen, and cultural events aimed at preserving traditional Ukrainian art.