MBJ: Historic Memphis bank gets new headquarters
Tri-State Bank of Memphis has a new headquarters.
The bank officially signed a lease for space in an office high-rise located at 1407 Union Ave. located between South Watkins Street and Pine Street. The building is owned by Olymbec USA LLC.
“Known as ‘Mid Memphis Tower,’ [the building] clearly met all of our requirements for the corridors that were under consideration,” said Thomas Felder, CEO of Tri-State Bank of Memphis.
Tri-State Bank’s headquarters are currently at 180 S. Main St. The bank announced in January 2016 it had sold the nearly 23,000-square-foot building to Belz Investco GP for $3 million. Belz also became a depositor and stockholder in Tri-State Bank at the time of the purchase.
Belz then allowed Tri-State Bank to lease the building while it searched for a new headquarters.
Tri-State Bank will initially occupy 6,100 square feet on the sixth floor of the Union Avenue tower. The bank plans to relocate Monday, May 1. The executive, administrative, accounting, loan administration, deposit operations, compliance, IT and human resources divisions will relocate there.
Employees not in that group but who currently work at the Main St. branch will move to Tri-State Bank’s Whitehaven branch at 4606 Elvis Presley Blvd. by May 31. That location will then become the corporate headquarters for retail banking, following a $1 million “complete” renovation to that facility.