Merchants Bank in Cottage Grove will be moving to a new location in Cottage Grove this Fall, according to Lawrence Stovern, Regional President for Merchants Bank in the Twin Cities.
The current Merchants Bank location in Cottage Grove, 7200 East Point Douglas Road South, has been sold to Hy-Vee, and Merchants has acquired the former Famous Dave’s restaurant at 8479 East Point Douglas Road South, Stovern said.
Merchants Bank Cottage Grove Branch Manager Randy Bachman said Merchants will start construction on its new facility the week of May 9 and construction will continue throughout the Summer. Bachman said he expects Merchants will move into the new facility sometime in October.
“This process will be seamless for our customers. We’ll continue to do business in our current location until the day of the move and then be open for business the next day without any interruption,”Bachman said.
Stovern said the motivation for the sale of the current location and purchase of the new location was about being a good neighbor in the community.
“We recognize Hy-Vee’s plans to bring a new store to Cottage Grove as something that is good for the economic vitality of the community,”Stovern said. “For us, as a community bank, that made the choice to sell easy. It is a win for everyone involved.”