CHARLESTON, W.Va., Jan. 11 /PRNewswire-FirstCall/ -- City National Bank today announced it has completed two deals, totaling approximately $1 million, which will expand its presence and bring increased financial services to downtown Charleston.
By moving its downtown office to larger space at One Bridge Place, at 10 Hale Street, City will offer an upgraded and more accessible banking center. Replacing the bank's 715 Lee Street location, the new 5,200 square foot facility also will become a base for commercial lending, trust and private banking services. In addition, City National Bank has purchased the adjacent 817 Virginia Street drive-up facility it had previously leased.
City's new banking center in the historic One Bridge Place building will open for business in March, following an extensive renovation set to begin in January, 2006. Located by the South Side Bridge, One Bridge Place is well recognized by the distinctive Bart Davies' mural of Victorian row houses painted on its eastern exposure.
The bank's $1 million investment includes upgrades to the One Bridge Place location and the purchase price of the Virginia Street drive-up facility. City will lease the entire first floor, which was recently vacated by RMS Strategies, and renovations will take advantage of the building's rich architectural details. One Bridge Place was built in the late 1890s and features open ceilings, brick walls, wooden beams and hardwood floors.
The move from Lee Street brings City's downtown office and drive-through to a single campus. The Virginia Street drive-up is directly across the street from One Bridge Place. The new facility also offers more parking.
"We are deeply committed to downtown Charleston, which is a center of commercial activity for West Virginia," said Charles R. "Skip" Hageboeck, president and CEO of City National Bank. "We are proud of our roots as one of West Virginia's largest local banks, and the city of Charleston is very important to us. It was a strategic decision to continue this commitment by offering more financial services from this location. We welcome this opportunity to expand our visibility in downtown Charleston."
City will relocate much of its commercial lending division, as well as the trust division, to the One Bridge Place location. These services currently operate out of City's Kanawha City office.
"This more centralized location will increase our accessibility to a wider base of customers," said Jack Cavender, senior vice president of commercial lending. "We look forward to further expanding our connections throughout the Charleston market."
In addition to commercial lending and trust services, City will offer private banking services from the One Bridge Place office. Designed for executives and business owners, City's comprehensive private banking services meet a wide range of banking needs, including checking accounts, mortgages, home equity lines of credit and customized solutions.
City National Bank is the largest West Virginia-based community bank headquartered in the Charleston MSA. With assets of $2.5 billion, City
operates 67 banking offices across West Virginia, eastern Kentucky, and southern Ohio.
