A local bank is full steam ahead on a new branch.
Glen Allen-based First Capital Bank got the green light in recent weeks from state and federal regulators to open a new branch inside the Kroger grocery store at 13201 Rittenhouse Drive in Midlothian.
The branch will occupy about 400 square feet inside the store, which anchors the Village at Swift Creek shopping center. It will lease the space in an initial five-year term from Kroger.
First Capital CEO John Presley said the bank is planning a June opening for the new location. It is working with a contractor through Kroger because of the tight timeframe, Presley said.
The new branch coincides with a major remodeling at the store, including a 38,000-square-foot addition. More than $1.8 million in building permits have been filed for work on the property in recent months.
The new location would be First Capital’s seventh branch and its third on the Southside. Presley has said the bank wanted a location in the Midlothian section of Chesterfield County. Its nearest branches are 10 and 15 miles away at Chesterfield Towne Center and in Bon Air.
The bank first disclosed its plans for the branch in early March.
First Capital did not say what the costs for the new spot will be, but Presley said in-store branches generally can be about a tenth of the cost of a traditional bank building.
A local bank is full steam ahead on a new branch.
Glen Allen-based First Capital Bank got the green light in recent weeks from state and federal regulators to open a new branch inside the Kroger grocery store at 13201 Rittenhouse Drive in Midlothian.
The branch will occupy about 400 square feet inside the store, which anchors the Village at Swift Creek shopping center. It will lease the space in an initial five-year term from Kroger.
First Capital CEO John Presley said the bank is planning a June opening for the new location. It is working with a contractor through Kroger because of the tight timeframe, Presley said.
The new branch coincides with a major remodeling at the store, including a 38,000-square-foot addition. More than $1.8 million in building permits have been filed for work on the property in recent months.
The new location would be First Capital’s seventh branch and its third on the Southside. Presley has said the bank wanted a location in the Midlothian section of Chesterfield County. Its nearest branches are 10 and 15 miles away at Chesterfield Towne Center and in Bon Air.
The bank first disclosed its plans for the branch in early March.
First Capital did not say what the costs for the new spot will be, but Presley said in-store branches generally can be about a tenth of the cost of a traditional bank building.