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After In [[1950]], a federal court consent decree ordered the [[Paramount Gulf Theaters]] (successor of the Saenger company) to divest itself of certain theaters based on a population formula; under the theatre closedformula, Paramount was only allowed to operate one subsequent-run theater in Pensacola, and it retained the Rex for that purpose. On [[September 12]], [[1951]], Paramount Gulf sold the building to the [[First Building Corporation]], of which [[John C. Pace]] was renovated in president, to be leased as the new headquarters of the [[First Bank & Trust Company of Pensacola]]. {{date neededcquote|Today more than ever I believe in the future of Pensacola. The city is showing growth and is on the threshold of great expansion. My associates and I are happy to have acquired the property for a new banking house and believe it is additional evidence of our confident belief in the further growth of this city.|[[John C. Pace]]<ref name="isissold"/>}} for use as an office building. Bricks from the theater were salvaged during the a later renovation and make up are included in the floor in of [[Seville Quarter]]'s "Phineas Phogg's" dance hall.
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|image=
|caption=
|name=Isis TheatreTheater
|location=2-4 North [[Palafox Street]]<br/>Pensacola, FL 32502
|architect=
|client=[[Nat Kaiser]] & [[M. J. Elkan]]|engineer=[[C. H. Turner]]<ref>[http://cinematreasures.org/theater/18156/ Cinema Treasures]</ref>|engineer=
|owner=
|construction_start_date=
|structural_system=
|style=
|size=50'1" x 133'8.5"<br/>500 seats
|mapcode=
}}
The '''Isis TheatreTheater''', located on the northeast corner [[Palafox Street|Palafox]] and [[Garden Street]]s, was a [[Saenger Amusement Company]] venture and 'sister theater' to the nearby [[Saenger Theatre|Saenger]] and [[Rex Theatre]]s. It was built in [[1913]]<ref name="historicalrole">"Movie theaters stage historical role." ''Pensacola News Journal'', July 7, 1985.</ref> on the site of the former [[Caldwell House]]. The building was owned by [[Nat Kaiser]] and [[M. J. Elkan]], who leased the space to the theater proprietors. For many years it the theater shared the building space with a confectioner's shop.
Originally located with the address 2 North [[Palafox Street]], it moved to 4 North Palafox in [[1921]]. After the Saenger opened in [[1925]], the Isis was often sent the overflow; as each movie reel finished at the sold-out Saenger, porters would hurry them to the Isis.<ref name="historicalrole"/>
The building was acquired by the [[Saenger company]] in [[1935]]<ref name="isissold">"Isis was Theater Building Sold To Local Firm." September 13, 1951.</ref> and remodeled in early [[1938]],.<ref>"Southeast Notes." ''Boxoffice'', February 12, 1938.</ref> shortly after the Saenger company opened the nearby [[Rex Theatre]] for second-run movies.
[[Merrill Lynch]] occupied the building for several years before relocating to [[Palafox Pier]]. The current downstairs tenant is [[Delta Health Group]].
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