ROSCOE - Gateway Community Bank will be moving from 5390 Williams Drive to the Blackhawk Bank location at 5206 Elevator Road in early July as Blackhawk Bank moves to the former Tuscan Grill building at 5506 Clayton Circle.
"It's an opportunity to make a broader footprint in the market," said Gateway Community Bank and Gateway Banc Corp. President and CEO Allen Brewer.
Gateway Community Bank opened in October of 2002 with one location in Roscoe on Main Street Square. The bank opened its Beloit branch office on March 3, 2009. Gateway Community Bank has 25 full-time employees between both office locations. Gateway Bank has $90 million in total assets, representing $75 million in total deposits and $68 million in total loans as of Dec. 31, 2017.
The move is expected to save the bank significant lease expenses.
In Roscoe, the bank occupied 8,000 square feet in its current location, while its new location will offer the bank 9,400 square feet of space. As the Blackhawk Bank building has been a bank since its inception, it offers significantly more exposure. The site has a 24-hour drive-up ATM, drive-up banking and more visibility.
"We are taking advantage of what should be a turnkey facility. The majority of equipment will stay intact. We are moving our ATM and computer system as well as all the fixtures and furniture," Brewer said.
In this market, with the move and the sale of Alpine Bank to Midland State Bank based in Effingham, Illinois, Brewer it's the right time to take advantage of moving to a new and more visible location.
"We are hoping to attract more customers that are accustomed to a true community banking environment," Brewer said. "If you are in a banking environment that doesn't account for personal interactions, you should look at Gateway. We build relationship banking platforms that far outclass the big banking models. Gateway is an environment you would appreciate."
Blackhawk Bank has plans to renovate the Tuscan Grill building on Clayton Circle in Roscoe and make it the bank's new Roscoe location. The bank, with eight branches in the Stateline Area and Janesville, will move out of its current Roscoe facility at 5206 Elevator Road when its lease ends.
Efforts remain in the design and planning stages, and the substantial overhaul will change the currently-vacant building that has seen multiple businesses come and go over the years.
Construction is expected to wrap up in mid to late 2018, with the bank to work out of a temporary facility at the new site starting in March until construction is complete, according to information from Blackhawk Bank Executive Vice President Todd James.