Waukesha State Bank plans to open a full-service branch in Menomonee Falls

Although the trend is online banking, Waukesha State Bank officials said they are confident Menomonee Falls is a good fit for its 14th brick-and-mortar location.

A 5,546-square-foot, full-service branch of Waukesha State Bank is projected to open  at the end of summer 2020 at N83 W15424 Appleton Ave., between Burger King and Firestone Complete Auto Care. There will also be an additional 2,233-square-foot of leasable tenant space.

Its groundbreaking ceremony was Nov. 7.

"There was a lot of talk about if we should really be building a branch," said Stephanie Ohlfs, Waukesha State Bank's vice president-marketing manager.

According to a recent report from the Federal Deposit Insurance Corp., the number of branch offices in Wisconsin has dropped nearly 20% since 2009, to 1,919 from 2,388 —  which is faster than the 13% national decline in branch offices. 

Also, in 2009, there were 309 banks with a physical presence in Wisconsin, according to the FDIC; currently, there are 225.

But Ohlfs said that many people like to bank in their town.

"We are a local, community bank. We (Waukesha State Bank employees) live and work in the same communities (as the customers). We have a vested interest in the community," she said. "We know Menomonee Falls is a growing community. We are excited to be a part of the vibrant community."

The branch will have individual and commercial banking with services including wealth management and Payroll Complete, said Ohlfs. She said Payroll Complete offers human resources services, including payroll, workers' compensation, recruitment techniques and employee handbook assistance.

"Commercial banking, payroll and wealth management go in a nice packet. It is an unique, an affordable option and a local option," said Ohlfs.

The new building will also have a 711-square-foot community room available to nonprofits at no cost. Nonprofits may sign up to use the room 9 a.m. to 10 p.m. daily, according to documents filed with the village.

The branch office will have seven full-time and two part-time employees, according to village documents, and will be open 9 a.m. to 5 p.m. weekdays and 9 a.m. to noon on Saturdays. Drive-up hours will be 8:30 p.m. to 6 p.m. weekdays and 9 a.m. to noon Saturdays.

Waukesha State Bank was established in 1944 and has full-service offices in Brookfield, Delafield, Mukwonago, Muskego, New Berlin, Oconomowoc, Pewaukee, Sussex and multiple locations in Waukesha.

RELATED:Banking has changed in the last 75 years. And Waukesha State Bank has changed with it.

Cathy Kozlowicz can be reached at 262-361-9132 or cathy.kozlowicz@jrn.com. Follow her on Twitter at @KozlowiczCathy.