ANB Bank will break ground on its new $5 million downtown branch at 2 p.m. Monday southwest of Cascade Avenue and Cimarron Street.
The three-story, 18,000-square-foot building is scheduled for completion in September and will house about 25 employees to provide commercial lending, cash and investment management, trust and personal banking services as well as staff four drive-up banking lanes. ANB plans to lease part of the second floor and the entire third floor to tenants.
The bank bought the 1.09-acre site in June for $2.1 million that formerly housed offices of the Colorado Springs Osteopathic Foundation, which has been demolished. The new branch will replace space the bank now leases at 102 N. Cascade Ave., six blocks north.
The move is part of a larger effort by ANB to expand its presence and upgrade its facilities. The bank opened remodeled offices and a branch at 1130 N. Circle Drive in July after a $2.8 million renovation and also recently remodeled branches at 1095 Garden of the Gods Road and others in Boulder, Cheyenne, Denver and Grand Junction. ANB also opened a branch in Castle Rock and is looking for a new location on either Academy or Powers boulevards to replace its branch at 3485 N. Academy Blvd., its only other leased property in the Springs.
ANB is owned by Denver-based Sturm Financial Group Inc. and operates 38 branches in Colorado, Kansas and Wyoming with combined assets of more than $2 billion.