Last updated on March 17th, 2020 at 01:33 pm
First National Bank of Hartford purchased a commercial property in Menomonee Falls and plans to open a new branch, although it is not exactly clear when the branch will open.
The office building, located at N85 W16058 Appleton Ave., was purchased for $425,000, according to state records. It was an assessed value of $408,800, according to Waukesha County records.
However, the new branch is still in the planning phase and will require approvals from the village, said Aaron Lensink, First National Bank vice president and business banking manager. Lensink said there’s no definitive timeline or date for when the branch would open.
“Over the next two years, we’ll be evaluating what the strategy is for that site,” Lensink said. “We’re looking at a full-service branch with retail services, commercial lending and a full gambit of banking products that we offer at our existing locations.”
The bank also recently announced it would open a loan production office in January of 2020 at 11801 W. Silver Spring Drive on Milwaukee’s northwest side. Lensink said that site will be occupied Jan.1.
“The acquisition of the parcel in Menomonee Falls is kind of a further commitment to having a full-service branch in Menomonee Falls,” Lensink said. “The loan production office gives us boots on the ground in that market.”