Webster City Federal Savings Bank announced Thursday that they will build a new facility to be located at the corner of Superior Street and Fair Meadow Drive. Construction on the new, two-story, 15,880 square-foot building is scheduled to begin in April with completion slated for early January 2014, according to bank officials.
"The time is right for us to build this new facility," said Stephen Mourlam, Webster City Federal president and chief executive officer. "It will allow us to improve our customer experience, support future growth of our institution and the services we provide and reflects our strong commitment to the future of Webster City and surrounding communities."
Bank officials said the two-story facility will feature green building materials and components and has been designed in an efficient manner to handle current and future banking services. The efficiencies will also allow employees to better serve customers in a professional, confidential, secure and timely manner. Customer convenience has also been designed into the new building and will include front door parking, a comfortable waiting area complete with a fireplace and easy access to the ATM and drive-up facilities.
The new Webster City Federal Savings Bank building will be located at the corner of Superior Street and Fair Meadow Drive and is slated for completion in January 2014. The two-story facility will feature green building materials and components and has been designed with efficiencies and customer convenience in mind.
The new building will sit at an angle with the front entrance facing the corners of Superior Street and Fair Meadow Drive. Customer parking will be located to the south of the structure with the drive-up being located to the east. The existing full-service ATM will remain in its present location.
In addition to the space for Webster City Federal's operational needs, a 1,250 square-foot community room will be available for use by the public, independent of Webster City Federal's business hours.
Single Source LLC, will serve as general contractor on the project and is an architectural and general contracting firm located in Cedar Falls specializing in facilitating financial institutions across the upper Midwest.
"We chose to partner with Single Source due to their specialization in financial institutions and their endorsement by the Iowa Banker's Association, of which we are a member" said Mourlam.
Webster City Federal and Single Source are both committed to utilizing as many local sub-contractors on this project as possible. "It is vitally important to both our organizations to utilize local sub-contractors to complete this project, " said Steph Weiand, president and CEO of Single Source. "We understand the importance of local involvement and the relationships that exist in a project of this nature."
Specs on the building project will be sent from Single Source to local contractors later his month. Interested parties can also contact Stephen Mourlam or Kyle Swon at Webster City Federal directly if they want assistance in submitting bids.
Ed Sadler, City Manager of Webster City, said that this is a great example of the positive growth that is occurring in Webster City. "Van Diest Medical Center, Farm Credit Services, Fareway, Hy-Vee, Casey's General Store, Town & Country Insurance and the Webster City High School Competitive Gymnasium, are just a few examples. The decision by Webster City Federal to build now shows their commitment and confidence in the future of Webster City and surrounding communities."
Webster City Federal's announcement impacts future economic development as their re-investment in the community opens doors for others. "We're excited by this announcement, especially knowing their existing office space will become available for sale," said David Toyer, Economic Developer at the City of Webster City. "We've had a shortage of finished office space on the market and we've missed a few opportunities to attract new businesses interested in Webster City. Having this space available will help fill that void and may even serve local start-ups."
"Webster City Federal's new facility will be an asset to our local community and for the surrounding ones as well," said Carrie Fitzgerald, Webster City Area Chamber Executive Director. "They will be another nice anchor business for this area and will help with continued growth out along the Highway 20 corridor."
Since 1934, Webster City Federal has been a full-service community bank providing a wide range of personal banking services. They are currently located at 820 Des Moines Street, Webster City, Iowa, with ATM services within the Van Diest Medical Center and at the corner of Superior and Fair Meadow Drive in Webster City. Webster City Federal has assets in excess of $91 million and is a member of the FDIC and an Equal Housing Lender.