New London bank begins construction

First State Bank held a groundbreaking ceremony for its new corporate headquarters in downtown New London on Tuesday, Dec. 27.

The bank’s new, two-story office will be located at 220 W. Waupaca St. and will combine lobby, drive-up and local operations into one location.

In his remarks, president and CEO Bob Van Asten said “This new office is a symbol of First State Bank’s growth and our commitment to the New London community, our customers and employees.”

“The development of First State Bank’s new building and renewal of this organization’s commitment to the community goes way beyond simply improving services for bank customers. It shows their promise towards improving lives, promoting economic development growth, and making New London a great community to be a part of,” said City Administrator Chad Hoerth.

Site work for the bank’s new office begins the week of Jan. 3.

“We intend to maintain drive-up services as much as possible throughout construction,” said Randy Zietlow, bank CFO and project manager. “Due to the extent of activity in this area, we encourage customers to use our main bank lobby whenever possible. We truly appreciate everyone’s cooperation and patience during the project.”

The footprint of the new building overlaps with the bank’s current drive-up facility therefore the north half of the structure will be demolished in the coming weeks. Two drive-up lanes will remain open throughout most of the project. The bank’s ATM has already been relocated to the W. North Water Street entrance of the main bank lobby.

First State Bank expects its new office to open in late 2023, after which its building on North Water Street will be donated for the New London Public Library expansion. Keller Inc. is the design/build general contractor for the project.