NEW LONDON, Wis. (WFRV) – First State Bank announced on Tuesday that they are donating their current office building to New London Public Library and plans to build a new headquarters in downtown New London.
First State Bank president, Bob Van Asten, held a news conference with community leaders to let them know they’ll be constructing a new building in the City of New London.
“New London has been First State Bank’s home since 1933. We are proud to renew our commitment to this community and to be a leader in contributing to the revitalization of New London’s downtown,” said Van Asten.
He also said the new office will encompass the bank’s current drive-up facility and green space along Waupaca Street. The plan is to combine the lobby, drive-up, and local operations under one roof.
The construction of a new building wasn’t the only announcement that Van Asten shared as he also told community officials the company would be donating its current office building at 113 West North Water Street to the New London Public Library. Officials say the bank will transfer ownership when the new headquarters opens up in 2023.
“Today’s libraries are not just a place for books. They are resource centers where community members can gather and learn. We are excited to help propel this vision forward for the library and make it a cornerstone of New London’s downtown,” said Van Asten.
The library originally planned to build a separate library building along with maintaining the current facility, but with the donation, they’ll be redeveloping two floors of the bank building into the library’s future home.
“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,” explained New London Public Library and Museum board president, Virginia Schlais.
New London Mayor Mark Herter was also excited about the donation. “First State Bank’s donation to the New London Public Library provides us 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.”
First State Bank’s headquarters construction is expected to begin this summer and should be completed around April of 2023. Renovations for the library would begin shortly after and take roughly six months.