New London, Wis.-based First State Bank will open a new downtown headquarters next year.
The bank announced the pending work on April 12 during a joint news conference with officials from the city’s library, museum, and other municipal leaders.
The office is expected to be near the bank’s current drive-up facility, to the green space along Waupaca Street, and combines First State Bank’s lobby, drive-up and local operations into one facility. Groundbreaking is expected this summer. The facility is expected to open in spring 2023.
The bank will donate its current New London office building to the New London Public Library. “With this donation, the library will shift from its plan to build a separate library annex along with maintaining the current library facility,” according to the bank. “Instead, the library will redevelop the two floors of the bank building incorporating all current library services and new community spaces in a significantly larger, 26,000 square-foot facility.” The new library is expected to open in late 2023. The library’s move will allow the museum to eventually expand into nearby historic buildings on Pearl Street.