Minnwest to deposit new northwest office along Rochester's West Circle Drive

Jeff Kiger, Post-Bulletin, Rochester, Minn.
·2 min read

Jun. 1—ROCHESTER — A Minnesota financial institution,

Minnwest Bank,

is working on a plan to join Rochester's busy northwest banking corridor along West Circle Drive.

Redwood Falls-based Minnwest Bank recently filed for permits to build out a new office in Suite 100 at 2575 Commerce Drive NW in an office complex built by

Northrock Real Estate.

Minnwest recently closed the lobby of its long-time location at 331 16 Ave. NW and posted official notices of its intent to move its "detached facility" to the future Commerce Drive address.

Minnwest currently has one full Rochester branch at 324 First Ave. SW in downtown.

It opened that 3,900-square-foot branch

with six to eight employees in 2020.

While Minnwest has not responded to questions about this latest project, the building permits estimate the "job value" of the new West Circle location at $800,000.

Minnewest is following other high-profile tenants to that complex.

Smith Schafer

accounting moved out of downtown Rochester to occupy the entire second floor. Huber Eye Care and

Baird,

a Wisconsin financial management firm, are based on the ground level.

Minnwest entered this market in 2006, when it acquired Rochester Bank and its Hammond branch. That bank, based at 331 16th Ave. NW, was originally founded as the Rochester Bank and Trust Co. in 1958. It changed its name to Rochester Bank in 1994.

It's unknown what will happen to the 58-year-old building on 16th Avenue now that Minnwest is no longer using it as an active branch. Paul M. Peterson also moved his

All Apple Insurance Agency

out of the 16th Avenue complex in early 2022 to a new space in Suite 3 at 511 Northern Hills Drive NE.

When the new Minnwest location opens, it will join a large contingent of banks and credit unions that have offices along West Circle Drive.

First Alliance Credit Union,

Altra Federal Credit Union, Sterling State Bank,

West Bank,

F & M Community Bank, Foresight Bank, Home Federal Savings Bank, Associated Bank, the Mayo Employees Federal Credit Union,

Think Mutual Bank,

Wings Credit Union

and US Bank have locations in that area.