First United Bank in Sherman is planning a consolidation of its locations in the city, as the Taylor Street branch will close on Feb. 9 and its Texoma Parkway branch will close shortly after construction is completed on a new facility.
The bank announced plans to renovate its branch at 401 E. Taylor Street when representatives applied for a special use permit and site plan approval from the Sherman Planning & Zoning Commission in May of last year. At that time, architect Taylor Coleman told the commission the plan was to develop smaller, temporary structures for customers to use during the construction phase. Since then, those plans have changed. Customers will instead be directed to any of the other locations in the area during the construction.
Senior VP/North Texas Regional Market President Brian Straughan said First United is already sending out notices to customers telling them of the changes.
“It might be a mild inconvenience at first,” Straughan said during an interview at the Texoma Parkway branch. “What I am thankful for though is this location here, we’re just about a mile to the east of the location that is going to be under construction. I hope that will help minimize that inconvenience. Our customers can certainly use our location downtown on Travis Street and the location by the Midway Mall.”
Once the Taylor Street branch is closed, the employees who work there will be relocated to the branch at 2011 Texoma Parkway. Once construction is completed on the new two-story, 35,000-square-foot facility at the site of the Taylor Street branch, the Texoma Parkway branch will close its door and staff will move into the new facility. The branch at Midway Mall at 5000 Texoma Parkway is not expected to be impacted.
Straughan said the plan is to begin construction shortly after Feb. 9 and estimated it would take between 15 months and 18 months to complete construction. Despite consolidating two branches into a single, smaller location, Straughan assured there would be no reduction in staff.
“From the time we break ground to the time we are occupying the new facility is about 18 months,” Straughan said.
He added that even after the Texoma Parkway location is closed, the branch’s the detached motor bank portion will remain in operation for an unknown time frame, depending on traffic and usage.
The new facility is going to be similar in size to the current Texoma Parkway facility.
“I don’t see it as a material downsize nor an upsize in square footage,” Straughan said. “The new facility is going to be environmentally friendly.”
He said it will feature a more modern, efficient approach to utilizing the space, and will be done in a way to house all the employees from both locations to be effected.
“The thing I am most proud of is it is going to demonstrate First United Bank’s commitment to Sherman and our community,” Straughan said. “It’s going to be a wonderful place for customers to bank. It will fully demonstrate our long-term commitment to the community.”