Northwest Savings Bank is looking to expand for the convenience of its Vernon Township and Conneaut Lake customers, as well as build some more relationships with the upcoming construction of a more than $1 million facility on Conneaut Lake Road in Vernon Township.
Northwest officials estimate the cost of a typical, fully-equipped branch at around $1.5 million. Project plans consist mainly of site maps and design drawings so far.
“Vernon is the natural extension toward that market,” said Tom Stanton, district manager. “There’s quite a bit of growth in the township right now.”
Building plans, reviewed by Vernon Township Engineer Ashley Porter, include three drive-through lanes, a bypass lane and a service parking lot beside the main building, which will look structurally similar, if not identical, to other Northwest facilities.
Township supervisors approved the project plans at their regular meeting Thursday evening and look forward to the building’s eventual completion.
Groundwork is on hold for now, Stanton said, pending the proposed site’s property sale, which should be scheduled under contract prior to June 1. He hopes to begin construction in early 2014.
The new bank facility and service parking lot will replace long-standing business Eells Used Cars & Towing, 15844 Conneaut Lake Road, owned by Virgil Eells.
“As far as I know, everything’s a go,” Eells said, announcing his plans to retire, rather than relocate, upon the projected sale of his roughly two-acre property.
If everything goes according to plan, Stanton believes customers should be able to walk through the doors by June 2014.
“That’s usually the typical amount of time,” he said. “The Meadville branch was a bit bigger, so it took eight months.”
Northwest’s newest branch will mark its sixth location in the county, along with a retail operation, a commercial lending and business service, a drive-through in Meadville as well as facilities in Springboro and Titusville.
Konstantine Fekos can be reached at 724-6370 or by email at email@example.com.