Security to purchase former Associated branch
Posted: February 1, 2013
TBL has learned that Durand-based Security Financial Bank has signed an agreement to purchase the former Associated Bank building located at 4217 Southtowne Dr., Eau Claire. Terms of the deal were not disclosed.
"We have been in discussions for several months with the owner of the building and have just recently finalized the purchase agreement. Security Financial Bank has been searching for a long-term solution to our facility needs in Eau Claire for several years and this is the perfect opportunity," said Security Financial Bank President Jim Mayo, who added that a late spring purchase is anticipated with the new, 5,800-square-foot office opening in mid-summer once regulatory approval is received.
Security Financial Bank, as well as Security Financial Solutions, its affiliated investment advisory group, are currently located at 3430 Oakwood Mall Dr., Eau Claire. Both will be relocating to the new facility.
"As an organization, we have about 55 people. I would expect we'll add three or four more once the new office opens," said Mayo.
Security Financial Bank is a locally-owned community bank with assets of $310 million and has locations in Durand, Eau Claire and River Falls. TBL