Village Bank opens its first north-side location

by Dee Dee Nilsen

SBJ Intern

sbj@sbj.net

Village Bank opened its fourth location June 4 at 2920 E. Chestnut Expressway, less than six months after acquiring the former Farm Credit Services building.

Village Bank bought the 2,900-square-foot building in January from Farm Credit Services for an undisclosed amount. Costs for renovations totaled about $150,000, according to Village Bank President James Street.

Street said he chose to build a north-side location because he saw an opportunity to serve clients who had few other banks to choose from.

"There aren't many banks in that area," he said. "It's one of the few areas I consider not over-banked."

The new branch has eight employees, and Street said there are no plans to hire additional staff.

The full-service bank has lobby service and a drive-through with four lanes. An exterior ATM in the fourth lane will be available for service in the next couple of weeks, Street said.

Street said the bank has acquired four major clients at the location since opening.

"We think it's a great growth potential for us," he said. "We think it's a gateway to development."

Village Bank has added three locations in the last three years, and Street said there are plans for additional expansion. He said he would like to expand the company outside of Springfield at up to 100 miles from the city.

Major contractors used for the new location's refurbishment included Dewitt and Associates, G and M Office Products, Tiedemann Bank Equipment, Craig Larson Landscaping and Blinds Plus.

Village Bank was established in 1997 at its first location at 2360 E. Sunshine. Its other locations are 1776 E. Independence and 2760 S. Kansas Expressway.

Village Bank's assets as of March 31 totaled $87,523,000. Liabilities as of the same time totaled $67,387,000.