Associated Bank is planning to close its branch in the Hy-Vee North grocery and then re-open it in a future northwest Rochester location.
The Green Bay, Wis. bank announced this week that it will close the grocery store branch at 500 37th St. N.W. at the end of July. Hy-Vee customers will then be served by Associated Bank's Rochester locations on South Broadway, First Avenue Southwest and 16th Street Southwest.
The five branch employees based at the Hy-Vee branch will work at Associated's three other Rochester branches until a new northwest facility "in the West Circle Drive corridor" is completed.
While bank officials wouldn't confirm the location of the to-be-constructed bank yet, Associated has submitted very early plans to the city to build a 3,683-square-foot branch in the 19th Street/West Circle Drive commercial development anchored by Costco.
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. There was speculation when the site development permit was filed for the West Circle Drive branch that it might serve as the new home for the downtown branch.
Not so, says the bank's spokesman. It's actively looking for a new location that will allow it to maintain its presence downtown.
“We are finalizing plans for an exciting new Associated Bank location in the West Circle Drive Corridor and continue to review opportunities for a new downtown bank location," stated Executive Vice President David Stein in this week's announcement.
Stein also commented that, "The greater Rochester area represents an important market for Associated Bank, and we are committed to serving our customers there with expanded operations and 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.