Cedar Rapids Bank & Trust to expand downtown headquarters
Cedar Rapids, Iowa, April 19, 2023 – Cedar Rapids Bank & Trust (CRBT) today announced plans to expand its downtown headquarters with the construction of a new three-story, 34,000 square foot building to complement its existing main facility. The new state of the art building will reside at 116 Sixth St. NE, across the street from its headquarters at 500 First Ave. NE.
CRBT President, James Klein, said that he is excited to expand the CRBT campus.
“Thanks to client and community support, CRBT is growing and we’re simply running out of space. With our employees working in the office, alongside our projected staff growth over the next five to ten years, we feel it is imperative to take the necessary steps to plan for the bank’s future and support our culture where relationships and service matter,” Klein said.
In addition to supporting the company’s growth since the 2005 construction of its main headquarters building, the investment will allow for increased efficiencies and collaboration to benefit its employees, clients, and community.
“The city is excited for our continued investment in the downtown area,” notes Klein. “We evaluated many options to expand and felt this new building was the best option to accommodate our growth plan, complement and expand our main campus, and continue to meet the evolving needs of our clients and community.”
The groundbreaking is scheduled mid-May, with project completion expected late 2024.
CRBT selected OPN Architects as the architect and Rinderknecht as the general contractor.
About Cedar Rapids Bank & Trust CRBT provides full-relationship, commercial and consumer banking and trust and asset management services. As of December 31, 2022, Cedar Rapids Bank & Trust reported $2.1 billion in assets, employs approximately 200 people, and offers five convenient locations across the greater Cedar Rapids area.