The Oxford Bank will open a new location in the coming months in hopes of acquiring a larger facility and more business.
The bank is currently located at 5174 College Corner Pike and is part of a strip mall next to A Place to Tan. The new location will be just across the lot, in front of the Baymont Hotel, according to Assistant Vice President Mike Reuss.
Reuss said the move will increase the bank’s visibility. The building will no longer be a part of a strip mall, but will be a free ding building.
“With the relocation, we are just moving across the lot,” Reuss said. “Customers are still coming in the same direction.”
The new location will also feature two entrances from the road instead of one in order to increase customer accessibility, according to Reuss.
Reuss said the acre of land will enable the company to expand within.
“We will have an ATM now and a larger facility in the lobby area,” Reuss said.
Reuss said the increase of square footage is something the bank is looking forward to.
The new building will also include a two-lane drive-thru further inspiring the company to relocate.
For sophomore Taylor Walker, the relocation will be appreciated.
“I think the drive-thru will be more convenient,” Walker said. “People that are in a rush and have to be quick will appreciate the drive-thru.”
Reuss said the company is confident the move will cause beneficial change for the bank.
“We hope this move will grow our business on both sides – in deposits and loans,” he said.
Reuss said the bank mostly caters to community people and businesses but the new location may start to bring in business from Miami students.
“With better visibility and an established location, student clientele may increase,” Walker said. “Students may be more willing to use the bank for loans.”
According to Reuss, the construction on the new building will begin in April and pending its progress the bank will open in late July or early August.