Launceston police are investigating the cause of a fire at the Commonwealth Bank branch at Newstead that caused up to $300,000 damage overnight.
Emergency services were called to the structure fire at the Elphin Road bank branch at 11.55pm last night.
The fire was contained to the rear section of the building, which suffered severe damage.
Police say that the fire is still being investigated and the cause is yet to be determined.
Value of damage has been estimated at between $250,000 and $300,000.