By Jeff Kiger
Post-Bulletin, Rochester MN
Think Mutual Bank hopes to move its southwest branch to the site of a former convenience store with good access to U.S. 52 and Salem Road.
The Rochester-based bank last week bought the BP Pump N Munch convenience store at 1509 Greenview Drive S.W., which closed earlier this year. It paid $785,895, according to Olmsted County records.
The long-term strategy is to move the bank’s current southwest branch at 1698 Greenview Drive S.W. to a yet-to-be-built building on the Pump N Munch site, says Kirk Muhlenbruck, Think’s senior vice president of community banking.
“This is about being more efficient. The current Greenview location is much larger than we need," he says.
That branch was constructed before Think, then a credit union, built its headquarters at 5200 Members Parkway N.W., off West Circle Drive. Once that was built, it took over some of the work that originally was done at the Greenview site, Muhlenbruck said.
The branch along Salem Road near U.S. 52 also will be more convenient for customers, he said.
Staffing will remain about the same. The southwest branch has a staff of about 20 that provides retail banking, home finance, investment banking and insurance services.
While a new structure eventually will be built there, don’t expect any construction on the ex-BP site soon.
“It could be a couple years or longer," says Muhlenbruck.
The bank is working on a transition strategy to minimize the impact on customers, and it’s working on plans for the existing branch.
Think Mutual Bank is a $1.4 billion full-service banking institution with eight branches in Rochester and the Twin Cities.