With the paint barely dry on the walls, Commerce Bank opened for business Tuesday morning in its new downtown building after relocating the entire banking operation over the long weekend.
Employees and shareholders gathered Monday evening for a preview and celebration of the Taylor Street building, which towers over the downtown area. The Columbus Day federal holiday gave the bank three days to make the move after closing for business at the Cass Street location Friday afternoon.
“This facility affords us the ability to seize on opportunities for growth and expand our service area,” said Bank President Frank Davis. “Additionally, this magnificent building gives the board, management and our team members an exceptional opportunity to serve the community for many years to come.”
The locally owned bank has enjoyed strong growth during its first 20 years. Upon its opening as Commerce National Bank in January 1999, the institution had about $4 million in assets. Today, that number has grown to more than $125 million.
“This success would not be possible without the truly dedicated staff and their commitment to our customers,” said Davis.
The bank now has almost 10,000 customers and had outgrown the Cass Street building.
The bank purchased the older, partly vacant commercial building occupying the block bordered by Taylor, Bunch, Webster and Childs Streets in July 2017 and demolished it to make way for the new investment. Commerce also purchased a parcel across the street for parking.
The new building features a clock tower and a balcony overlooking downtown, and the block has new sidewalks. Customers will find a much larger lobby area for banking business and an expanded drive-thru.
Along with celebrating the new facility, the bank presented gifts of appreciation to its employees with at least 20 years of service — Hull Davis, Bobby Roberts, Cathy Marsh, Margaret Browder and Rita Shaw. Employees and board members of the bank presented a painting of the clock tower by Warren Rossi to Frank Davis in appreciation of his hard work on the bank’s move.