Business

Great Western Bank plans first Cedar Rapids branch

A city commission will review the project Thursday

The Great Western Bank branch in North Liberty, 655 Community Drive. (Great Western Bank)
The Great Western Bank branch in North Liberty, 655 Community Drive. (Great Western Bank)

CEDAR RAPIDS — A South Dakota-based bank plans to open its first branch in the Cedar Rapids metro.

Great Western Bank, based in Sioux Falls, has its eyes on a site at 2739 First Ave. SE for the branch. The Cedar Rapids City Planning Commission will review a preliminary site plan for the 7,164-square-foot building Thursday.

The bank hopes to break ground in spring and have the branch open within 12 months, Cedar Rapids Market President David Parmley said via email.

About 12 people would work at that office.

Parmley said the Cedar Rapids area, as Iowa’s second-largest metro, is “a natural market for us to expand into.”

“The Corridor region remains a vibrant area that is poised to maintain the momentum for years to come,” he said.

When open, the Cedar Rapids branch would join one other in the Corridor, located at 655 Community Dr., North Liberty.

Great Western reported about $11.7 billion in assets, $144.8 million in profit and had 173 locations in nine states at the end of 2017.

l Comments: (319) 398-8366; matthew.patane@thegazette.com

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