Green Bay, Wis.-based Associated Bank broke will break ground on Wednesday for its new 3,000-square-foot branch in northwest Rochester.
The new building will replace the branch in the Hy-Vee North grocery on 37th Street Northwest, which closed on July 24. Associated's new site will be located at 1985 Commerce Drive N.W., which is in the Costco's commercial development at 19th Street and West Circle Drive. It will be near the 19th Street entrance to Costco.Associated Bank first filed plans for the branch in February.
EDITOR'S NOTE - Thanks once again to Josh Banks Photography for the pic.
If construction goes as planned, look for the new Associated branch to open in January. The Wisconsin bank has three other branches in Rochester.
The addition of this new branch re-confirms the growing commercial interest in that part of Rochester. Iowa-based West Bank is planning to build its own facility along West Circle Drive in 2015. Two Rochester-based banks, Home Federal Saving Bank and Think Mutual Bank, also have large branches in that area.
Associated's announcement about the new location stated that it will offer "an enhanced banking experience in a revitalized and spacious layout." That will include a full lobby with tellers, a drive-through window and staff to handle mortgages and investment services.
Associated Bank entered the Rochester area in 2004, when it acquired First Federal Capital Bank. First Federal was short-lived here. It picked up the holdings of the long-time Marquette Bank in 2002.
“We take pride in the relationships we have built in this community and we are thrilled to continue these relationships at our new location,” stated Tim Lau, Associated's head of community markets and executive vice president.
Re-locating the northwest branch is not the only Rochester move coming up for the bank.
New owners have acquired Associated Bank's downtown building at 206 South Broadway and the bank needs to move out by spring 2015. Executive Vice President David Stein previously stated that Associated is looking for "opportunities for a new downtown bank location."
Associated has more than 200 locations in Wisconsin, Minnesota and Illinois.