Also known as the Smithfield Exchange Bank and the Resolved Waterman Tavern, the Greenville Tavern was built in 1733. It was designed as an inn and bar that served travelers, as the area was once a busy turnpike road. It is said that everybody loved the place, so it was rarely empty, usually bursting with locals and travelers all the time.

In 1822, the Smithfield Exchange Bank was established on the site after adding an ell to the tavern. It provided services to the local farmers and small business owners. However, the bank decided to move next door in 1856, to get a bigger space. Most of the original structure was demolished in 1936, and only the ell was left. It served as a residential building from then on.

In 2006, the Greenville Tavern was acquired by the Smithfield Preservation Society. They are currently raising funds to restore the old tavern.