Union Grove-based Community State Bank has purchased a former Town Bank branch in Lake Geneva for $900,000. The sale closed July 9, according to state records.
[caption id="attachment_356060" align="alignright" width="372"] Community State Bank's Union Grove branch.[/caption]
Community State Bank opened a 2,000-square-foot rented temporary office space at 580 Broad St. in Lake Geneva in January 2017. It will move those operations to the newly purchased 3,000-square-foot branch at 200 Interchange North in Lake Geneva, which had been vacant for several years, said Greg Wall, vice president and marketing director at Community State Bank.
“The opportunity came up to purchase a permanent building,” Wall said. “The property had been for sale for a little while and the time was right.”
Community State Bank plans to open the new branch Sept. 4. It will have an ATM and a drive-thru, improving upon the previous location, he said.
“That has always been the plan was to establish a permanent location out there. We just needed the right timing and the right property to be available to do that,” Wall said.
Community State Bank now has seven branches in Kenosha, Racine and Walworth counties. It also recently reopened its renovated lobby at the Union Grove branch.
Hartland-based Town Bank currently has two Lake Geneva branches, at 567 Broad St. and 550 Commercial Court.