First Interstate Bank on Main Street was evacuated Tuesday morning for a fire in the building's basement.
Billings Fire Department Assistant Chief Bill Rash said that after the initial call at 11:30 a.m., the first firefighters found smoke and flames in the lower level. The building was evacuated and no one was injured, he said.
The fire was caused by "an electrical failure in the wiring," according to a press release from BFD Deputy Fire Marshal Jeff McCullough. The property and its contents were insured and damage is estimated at $750,000.
Heavy smoke poured from just below the building's roof and out the front door as firefighters went in and out.
Within an hour, crews had the flames contained. Rash said the ventilation efforts to remove smoke would extend into the afternoon.
"The fire caused heavy damage to the basement and smoke damage throughout the business," according to the release.