Northwest Bank selling its building with plans to relocate downtown

David Penticuff, Muncie Star Press
·2 min read

MUNCIE, Ind. − Northwest Bank announced it’s seeking a buyer for its building at 110 E. Charles St.

The building, which for years served as home for Mutual Federal Savings Bank, is for sale but, according to a press release from Northwest, the bank plans to remain in downtown Muncie.

Northwest Bank says it is actively looking for a new location to continue serving the needs of its retail and business customers.

“After careful consideration, we have decided to put our East Charles Street location on the market,” said Jennifer Gibson, Northwest Bank Indiana Region president. “Over the last five years, we have been operating a branch in a facility that was originally designed to hold an entire bank — we are simply underutilizing the space available in the building.”

Northwest Bank announced Monday it is selling its downtown Muncie building at 110 E. Charles St. The bank plans to remain in downtown, but will relocate after the building is sold.
Northwest Bank announced Monday it is selling its downtown Muncie building at 110 E. Charles St. The bank plans to remain in downtown, but will relocate after the building is sold.

More: Muncie-based MutualBank sold, 100+ jobs at risk

Northwest is based in Columbus, Ohio, and operates 134 full-service community banking offices and eight free standing drive-through facilities in Pennsylvania, New York, Ohio and Indiana.

“While we plan to remain in downtown Muncie, it no longer makes sense for us to maintain such a large property," Gibson said. "It’s better to be in the hands of someone who can make full use of the facility.

“In the end, we want to ensure the best possible experience for our customers and will invest in a new facility that provides for greater access and convenience (lobby/drive-thru/ATM) space for our business partners.”

More: Muncie-based MutualBank sold, 100+ jobs at risk

Northwest will continue operating out of 110 E. Charles St. until the new branch is completed.

“We love Muncie and will continue serving the community in an impactful way,” Gibson said. “We are committed to working with our Realtor and local officials to find the right buyer or developer to ensure the best future use of the building to further enhance the vitality of the community.”

The sale of the building is being handled through Coldwell Banker Commercial Real Estate Group.

David Penticuff is a reporter with The Star Press. He can be contacted at dpenticuff@Gannett.com.

This article originally appeared on Muncie Star Press: Northwest Bank plans to relocate to new site in downtown Muncie