Mid America Bank plans to begin construction in April with hopes to open before the end of the year.
CEO, founder and owner Dave Hill said he hopes they can provide Eudora with a bank that specializes in real estate lending. Mid America’s headquarters is in Baldwin City with branches in Wellsville, Gardner and Lawrence.
Hill said the Eudora location at 1435 Church St. will round out its coverage of Douglas County.
“We’ve had a good loan customer base out of Eudora over the years,” Hill said.
Hill, who is originally from Eudora and graduated from Eudora High, said it’s a special place to him.
Hill said the new bank will be an additional option for full-service banking with competitive deposit rates. Hill founded the bank in 1997 and has a team of 58 people across the locations.
Five people will work at the location between Casey’s and Wendy’s, he said. The building will be about 4,000 square feet, he said.
Hill hopes the bank will open Dec. 9.
He also said the bank’s new location was not Panasonic driven as he had been looking at the market for a few years. When the lot became available, he knew it would be better to purchase it sooner than later with growth coming to the area, he said.
Assistant City Manager Zack Daniel said the city is excited for another addition to the Nottingham district. It’s good to see some momentum with the bank and with the city hiring a new broker, Foundations Commercial Real Estate, to attract more businesses to the area, he said.
“So between Mid America Bank breaking ground and being open for business before the end of the year, and then our new broker hitting the ground running and presenting us with some prospects and some options, we’re in a good position related to Nottingham and development in it,” Daniel said.
Foundations has been providing frequent updates and letting the city know about substantial interest for the city to consider, he said.
Daniel said new projects are in various stages of review and development so the city cannot be specific at this time.
The bank groundbreaking will be at 4 p.m. April 1 at the location’s lot. The groundbreaking will be followed by remarks and socializing.
Reach reporter Sara Maloney at [email protected]
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