First Interstate Bank relocating Marshalltown downtown branch to former Wells Fargo
Pictured is the east entrance to First Interstate Bank's new downtown branch at 102 S. Center St. in Marshalltown. It is currently being remodeled and will open at 9 a.m. on Nov. 16.
T-R PHOTOS BY MIKE DONAHEY Shown is the First Interstate Bank downtown branch at 11 N. 1st Ave., Marshalltown. The bank will close at noon on Nov. 13 and reopen at its new location at 102 S. Center St. on Nov. 16.
Pictured is the east entrance to First Interstate Bank's new downtown branch at 102 S. Center St. in Marshalltown. It is currently being remodeled and will open at 9 a.m. on Nov. 16.
T-R PHOTOS BY MIKE DONAHEY Shown is the First Interstate Bank downtown branch at 11 N. 1st Ave., Marshalltown. The bank will close at noon on Nov. 13 and reopen at its new location at 102 S. Center St. on Nov. 16.
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A local bank on a prominent downtown corner will be moving and opening for business at its new address at 9 a.m. on Nov. 16.
First Interstate Bank (FIB), 11 N. 1st Ave. announced recently via a corporate press release that it will move to the former Wells Fargo bank building also downtown, 102 S. Center St. The former branch location, 11 N. 1st Ave. will permanently close at noon on Nov. 13.
"We look forward to welcoming our clients and the Marshalltown community in our new space," said Branch Manager Tom Farley of Marshalltown in a press release. "We invite everyone to stop by, meet our team, and see how the new branch will help us serve the community with greater convenience and care."
Client accounts and services will automatically transfer to the new location. No action is required. Clients with questions may contact the local downtown branch team at 641-754-5505.
Anthony Kutzler, communications specialist with FIB headquartered in Billings, Mont., said in an email to the Times-Republican that the new location will be serviced by seven employees in the 3,500-square feet property.
"The updated branch features an improved layout that brings drive-up services closer to the branch team, creating a more convenient and efficient banking experience," according to the press release.
FIB will retain its branch at 3 Southridge Road, also with seven employees, said Kutzler. The site at 102 S. Center St. has a distinctive local history.
It was once the home of the Marshalltown U.S. Post Office before it moved to its current location, according to T-R archives.
In 1963, Fidelity Bank of Marshalltown constructed a bank on the site. Brenton Bank, once a prominent Iowa banking corporation, later purchased the business and building.
In 2000, Wells Fargo purchased the corporation and its branch locations. The building was extensively damaged in the 2018 tornado, demolished and rebuilt by Wells Fargo.
However, Wells Fargo closed the local downtown branch in July 2023, according to T-R archives. All operations were consolidated at their location in the 2700 block of South Center Street.
The FIB relocation poses a challenge and an opportunity for local economic development officials as the First Avenue building is 36,850 sq. feet (including a basement and drive-up) and will soon be empty.
"Anytime we are confronted with change, it can be unnerving, but Marshalltown has shown time and again people will continue to invest here," said Danielle Lekin, executive director of the Marshalltown Center Business District (MCBD) - a Main Street Community. "This transition is a terrific opportunity for FIB's business, and I am pleased they have chosen to remain downtown and put a vacant building to good use. MCBD will do everything in its power, in collaboration with our community partners, to bring new life and a new use to the building they are leaving."
For more information about FIB, visit firstinterstate.com.