First Resource Bank is opening a new branch in downtown Stillwater next summer, a move that bank officials say demonstrates the bank’s ongoing commitment to the Stillwater community. First Resource’s second Stillwater location will be at 201 S. Main St.; the bank’s existing Stillwater location , at 1946 Washington Ave., will remain open, said Aaron Siegle, the bank’s president. The bank plans to hire 15 employees as it expands, Siegle said. The downtown site — at the southeast corner of Main and Chestnut streets — is the ideal setting for the bank’s “next chapter in service and growth,” Siegle said. “This move is about deepening our roots in Stillwater and elevating the client experience in the heart of the community — right on Main Street,” he said. “Our growth is a direct result of the relationships we’ve built with local businesses and families. Opening this branch is a tangible way to continue our commitment to the community and invest in the future of our clients.” Work on the 12,000-square-foot location, which First Resource is leasing, will begin in January, Siegle said. Among the planned improvements: adding windows to the north wall looking onto Chestnut Plaza, as well as opening up the east wall facing the river, he said. The building, which formerly housed Mari-Mi Store + Studio + Cafe, is being redesigned to include an “event hosting area” that can be used by the community, Siegle said. Aaron Siegle (Courtesy of First Resource Bank) “If the football team wants to take the space, right on the busy intersection there on a weekend, and do a kind of a fundraiser, they can grill hot dogs out of our commercial kitchen up front,” he said. “If the United Way wants to host an event, they can use it, no charge. We’re really hoping that it becomes a community hosting space. It should be really fun.” City officials are excited about the bank’s plan, said Jason Zimmerman, the city’s community development director. “They’re committed to taking full advantage of their very public location on the corner of Main Street and Chestnut Plaza,” Zimmerman said. “We’re looking forward to having the new branch located in our downtown.” Related Articles Suburban police speak out on immigration enforcement amid ICE activity Ex-Hudson teacher gets 6-year prison sentence for sexual misconduct with 11-year-old student Scandia looks to become recreational destination with Gateway Trail extension Newport Recycling Energy Center to medical facilities: Enough with the infectious waste A key character in Ballet Minnesota’s ‘Nutcracker’? Clara’s dress — for 37 years and counting Over the past 10 years, First Resource’s assets have increased from approximately $100 million to more than $830 million, according to Siegle. He attributes the growth to client trust, employee dedication and the bank’s “continued investment in the region.” First Resource, which is based in Minneapolis, has 80 employees in six locations; the downtown Stillwater branch will be its seventh location. The bank started as Eagle Valley Bank, chartered in St. Croix Falls, Wis., in 1919. In 2017, the parent company expanded with the acquisition of First Resource Bank. The merger between Eagle Valley Bank and First Resource Bank took place in 2018, resulting in the current name. ...read more read less