Grand Bank in Bixby is building a new branch
By LAURIE WINSLOW World Business Writer on Sep 10, 2013, at 2:24 AM Updated on 9/10/13 at 4:11 AM
An artist's rendering of Grand Bank's new location at 101st Street and Memorial Drive. Courtesy
Finance
Porat’s own bank almost vanished when hedge funds, spooked by difficulties getting money out of bankrupt Lehman Brothers, pulled more than $128 billion in two weeks from Morgan Stanley.
When it comes to catastrophes and disasters, anniversaries typically bring up bad memories.
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Capitalizing on growth in Bixby and south Tulsa, Grand Bank is building a new location near the northeast corner of 101st Street and Memorial Drive.
Construction started last month on the new site, which is slated to open in the first quarter of 2014. Once completed, the 6,840-square-foot building will replace the bank's current Bixby branch, which operates out of leased space at 12345 S. Memorial Drive.
"Bixby and the south Tulsa markets have a great infrastructure and support system for business, and this new bank building reflects our desire to grow with this dynamic community," said Russ Smith, Grand Bank-Bixby Market president, in a written statement. "As one of the few family-owned and operated banks in the area, focusing on the financial needs of this great community is in our DNA. It's what we come to work to do every day."
Smith said that the new building will allow Grand Bank to continue to grow. The Bixby bank recently added one new loan officer and plans to add another lending professional when the new bank building opens next year. The new building also will house J. David Jewelry.
Tulsa architect Jack Arnold designed the new building, which is being constructed by Cowen Construction of Tulsa.
Tulsa-based Grand Bank was founded in Grove in 1975, and formerly was known as Grand Lake Bank. The bank moved its headquarters to Tulsa in 1998.
By 2005, the bank had opened a new site in Bixby and officially changed its name to Grand Bank to more adequately portray the bank as a progressive regional bank. Today, the bank operates in Bixby, Tulsa and Clare more.
Grand Bank has assets of $204 million.
At the end of June, the bank had $1.2 million in net income, according to the Federal Deposit Insurance Corp.
Laurie Winslow 918-581-8466
laurie.winslow@tulsaworld.com
Original Print Headline: Grand Bank plans new Bixby branch
Finance
Porat’s own bank almost vanished when hedge funds, spooked by difficulties getting money out of bankrupt Lehman Brothers, pulled more than $128 billion in two weeks from Morgan Stanley.
When it comes to catastrophes and disasters, anniversaries typically bring up bad memories.
CONTACT THE REPORTER
918-581-8466
Email
