GENEVA – Construction of a new bank branch could begin later this month on a historical corner in the city’s downtown.
Tom Hansen, president of St. Charles Bank & Trust, confirmed his bank will begin work “within the next 30 days” on renovating two buildings in the 500 block of West State Street in Geneva to create the bank’s newest Tri-Cities branch.
The work will include converting the former service bays at the historical Pure Oil building at 502 W. State St. for use as bank drive-thru lanes.
The Pure Oil building dates from 1935, when it was built as a service station. The bank’s proposal to convert the building into an extension of its branch office drew criticism from community members as the project moved through the approval process at Geneva City Hall.
Critics worried the project would destroy the historic nature of the Pure Oil building, which is leased to tenant retailer Pure Gardener.
The construction project won approval earlier this summer from the Geneva City Council.
Earlier this month, St. Charles Bank & Trust completed its purchase of the properties at 502 and 514 W. State St., according to Kane County land records.
Those records, filed Friday, showed Geneva businessman Joseph Stanton sold the properties to the bank for $2.25 million.
Hansen said the property offered his bank an opportunity to plant a branch on a desirable corner in Geneva.
“We know there’s a significant demand for banking services in Geneva’s downtown area,” Hansen said. “And our customers have been asking for more of a full-service facility in this area for quite some time.”
He said St. Charles Bank & Trust will relocate its Geneva banking operations to the new location from its branch location on Kaneville Road.
Hansen said he expects to begin outdoor work on the drive-thru lanes and on a parking lot behind the 500 block buildings before bringing the work indoors to the 514 W. State St. structure through the winter months.
Hansen said the bank plans to complete the work and open the bank branch for business in February.