Manufacturers Bank & Trust Co. is hoping to open a second branch in Rochester in early 2015.
The Forest City, Iowa-based bank first opened a location here at 2020 Second St. S.W. in 2012. Now MBT has outgrown that 2,000-square-foot space.
MBT is a full-service bank with particular expertise in agriculture and business loans.
Pending regulatory approval, MBT has lined up the former America's Mattress building at 4408 U.S. 52 N.W. to serve as a second branch, said Tom Heepke, the bank's community president. He says it is time to expand in this market.
"We've grown the business enough now to warrant a second location," he said.
Plus the Second Street location is becoming crowded with five on staff. If the second branch is approved as expected, MBT plans to add more staff and transfer current staffer Andy Mai to manage it, according to Heepke.
Bank regulators expect to rule on the branch by the end of January. If everything goes as planned, MBT could open in the new location by early February.
MBT will lease the 2,800-square-foot building at 4408 U.S. 52 N.W. from Rochester developer Jeff Brown. Mike Haley of Braasch Commercial Real Estate handled the deal.
America's Mattress moved out of the building earlier this year to join Furniture Superstore Factory Outlet in the former Menards store at 5150 U.S. 52 North. – Jeff Kiger