Federation Bank plans to buy former U.S. Bank branch

Federation Bank is planning to purchase the former U.S. Bank building at 300 S. Iowa Ave., in Washington.

Federation Bank President and CEO Jamie Collier confirmed the bank’s plan on Wednesday morning.

“We haven’t closed on it,” Collier said. “It is our intent to purchase the building.”

U.S. Bank shuttered its Washington branch at the beginning of the year.

Collier said that once the purchase is complete, it will still take some time before operations are moved from Federation Bank’s current location at 110 N. Iowa Ave.

“We’re working with some architects,” Collier said. “We will have to remodel the building to suit our needs.”

He said that process could take from a year to a year and a half.

In the meantime, Federation Bank is having some work done on its current Washington building.

Collier said that they are getting rid of some of the limestone up high on the building.

“It was becoming a problem,” he said. “As a safety measure, we’re taking old stone out and putting new stone in.”

Collier said that Federation Bank will look to sell its current building, although it is not currently listed.

The bank has had past negotiations with Washington County regarding the county purchasing the building.

“We thought it was a natural fit for the county because they need additional space,” Collier said.

However, the two sides could not reach an agreement for the county to purchase the building.

The county currently rents space in the Federation Bank building for the Washington County Department of Public Health and the Juvenile Probation office.

The issue came up during a Board of Supervisors work session Tuesday afternoon.

“Federation Bank will move into new facilities within a year,” board Chairman Richard Young said.

Supervisor Stan Stoops recalled the prior failed negotiations with Federation Bank.

“I think some Federation Bank board members were upset that we didn’t take them up on their offer,” Stoops said.

The issue was brought up amid discussions about facilities needs for various county offices.

There was a consensus that the Board of Supervisors will eventually move to some available space at the Orchard Hill Complex, and that the County Attorney’s office would expand its basement space in the Courthouse.

“The only thing that could screw us up is if Public Health gets kicked out,” Stoops said.

Supervisors agreed to form a committee made up of Supervisor Marcus Fedler, Auditor Dan Widmer and County Attorney John Gish to put together a list of space needs and options.