SIMSBURY, CT - January 16, 2013 – Expanding markets and new hires are some of the reasons that Simsbury Bank’s administrative headquarters will have a new, much larger home when Spring arrives this year. The Bank’s corporate offices will be moving in Simsbury from 760 Hopmeadow Street to 86 Hopmeadow Street.
“Simsbury Bank has grown significantly in the past 5 years. We are now the second largest bank in our four town branch market and our mortgage lending and commercial banking businesses are active throughout Connecticut,” said Martin J. Geitz, President and CEO of Simsbury Bank. “While 760 Hopmeadow Street has served us well over the past 12 years, we have outgrown it and also need space to accommodate our anticipated growth over the next 5 years. We are pleased that 86 Hopmeadow Street meets our needs so well.”
“We are delighted that Simsbury Bank has decided to move to 86 Hopmeadow Street for its corporate headquarters,” said building owner Mark Greenberg. “We expect that the bank will be a cornerstone tenant at the building and at Tower Business Park for years to come.”
86 Hopmeadow Street, built in 1989, is a 42,000 square foot Class A office building in Simsbury. The Bank is leasing approximately 22,300 square feet of office space, increasing its administrative space by almost 40%. The Bank engaged Andrew D. Filler of The R.M.Bradley Company to perform a full survey of the market and identify potential locations for its needs. “We worked closely with Martin and his team to identify a site that met the Bank’s functional needs and support the Bank’s further expansion,” said Mr. Filler. Patrick R. Mulready of CB RichardEllis represented Mr. Greenberg in transaction. “After a rigorous review of other potential locations,” said Mr. Mulready, “the Bank selected 86 Hopmeadow Street due to the quality of the available space, the building’s location and its amenities.”
The Bank will move in two stages due to the timing of space availability. In April, mortgage, consumer lending and deposit service teams will move. By late June, space will be available for executive, commercial banking, accounting and staff teams.
Simsbury Bank is an independent, publicly owned community bank for consumers and businesses based in Central Connecticut’s Farmington Valley. Simsbury Bank’s parent company is SBT Bancorp, Inc. whose stock is traded under the ticker symbol OTCBB: SBTB. The Bank serves customers locally through branches in Avon, Bloomfield, Granby and Simsbury and regionally through mortgage and commercial bankers active throughout Southern New England. Simsbury Bank customers enjoy internet banking and mortgage services at, respectively, www.simsburybank.com and www.simsburybank.com/mortgages. Bank customers have free ATM access at thousands of machines across the country through the SUM program. The Bank offers financial planning, investment and insurance products through LPL Financial and its affiliates, member FINRA/SIPC.