Bank donates building to library
First State plans new facility in New London
By Robert Cloud
First State Bank plans to build a new corporate headquarters in downtown New London.
The bank also plans to donate its current building at 113 W. North Water St. to the New London Public Library, according to First State Bank President and CEO Bob Van Asten.
Van Asten spoke at a news conference Tuesday, April 12.
Joining Van Asten at the news conference were New London Public Library and Museum Board President Virginia Schlais, Library Director Ann Hunt, Museum Director Christine Cross and Mayor Mark Herter.
“New London has been First State’s home since 1933,” Van Asten said. “A lot has changed in banking and our organization over the years, but our commitment to the community never wavered.”
Van Asten said the new facility will encompass the area where First State’s drive-up is currently located.
It will combine the lobby, drive-up and local operations into one facility.
Construction is planned to begin this summer and be completed by the spring of 2023.
“Our board of directors was adamant that this large building that we are in today would not sit vacant,” Van Asten said. “They envisioned this iconic building in New London’s downtown to serve a much greater purpose.”
Library donation
The bank will transfer ownership of the building to the library when it opens its new corporate headquarters in 2023.
In addition to the building, First State Bank plans to donate $50,000 toward the project.
“Today’s libraries are not just a place for books, they are resource centers where community members can gather and learn,” Van Asten said. “We are excited to help propel this vision forward for the library and make it a cornerstone of New London’s downtown.”
Schlais said the library will shift its plan from building an annex across the street from the library to refurbishing the two-story bank to house the entire library.
The library and museum board formally approved the donation the day before the press conference.
“This significantly larger, 26,000-square-foot facility makes it possible for all current library services and the new community resources that were envisioned as part of the annex to come together, downtown, under one roof,” Schlais said.
Earlier, the plan was to house the traditional library materials in the old building at 406 S. Pearl St. and build a 10,000-square-foot annex across the street.
The annex would house a teen center, computer lab, STEM (science, technology, engineering and math) labs, fabrication labs, a large community room with a kitchen, music and video studios and mall study rooms.
“Our architect, Keller, has done a thorough evaluation of the bank building and is now designing plans that transform the bank to fulfill the library’s vision as a community resource center,” Schlais said.
Timeline
Work on renovating the building for the library will begin in the spring of 2023 after First State has relocated its headquarters. Schlais said it is expected to take four to six months.
“The hope is that the library will be opened by the end of 2023,” Schlais said.
After the library has vacated the building at 406 S. Pearl St., the museum will have the opportunity to expand from its current location in the lower level to encompass the entire building.
“The ripple effect of a gift like the one made to the library by First State Bank is just amazing,” Schlais said.
Herter noted that the New London Library and Museum Board recognized the changing needs of the community.
“The board has spent endless hours in trying to create more programming space as they continue to grow and meet the needs of our community,” he said.
Herter said the bank’s donation provided the city with a “great opportunity.”
“It will keep this beautiful building thriving with a new purpose and allow the library to expand its services in the heart of our downtown,” he said.
He noted that giving the museum more space will allow it to expand its exhibits and its programming.
During construction of the new facility, First State Bank will work with its general contractor, Keller, on ways to keep drive-up access as convenient as possible. Access to the current lobby will not be affected during construction.
