The Bank of Iwate Red Brick Building was built in 1911 as the head office for Morioka Bank. Designed by the Tatsuno-Kasai Architectural Design Office that designed Tokyo Station, this is the only architectural design by Kingo Tatsuno remaining in the Tohoku region. The building is designated as an Important Cultural Property. It is a dignified building with an elegant red brick face and a high ceiling that makes the inside feel open. It shows off the characteristic Western-style architecture of the time.

There are two zones in the building, the free Bank of Iwate zone and the paid admission Morioka Bank zone. The free zone features a multipurpose hall and a library lounge that introduces the history of Morioka's industry and commerce. The paid admission zone has a reception room and the vault used since the bank opened for business. There is also a corner that introduces the financial history of Iwate Prefecture and a theatre that shows the history and structure of the building in video.