The main branch location for a Dubuque-based bank will relocate this year.
Dubuque Bank & Trust will move out of its longtime home at 1398 Central Ave. and into 700 Locust, the new name of the building at 700 Locust St. after being rebranded from the Roshek Building. HTLF, the holding company for DB&T, and Cottingham & Butler purchased the building in late 2019 and moved employees into the space.
“The relocation to 700 Locust is part of our continued investment in downtown Dubuque,” said Tyson Leyendecker, president and CEO of DB&T. “We feel the relocation comes with many benefits. … With the investment down there in 700 Locust, our employees will have access to state-of-the-art amenities.”
DB&T was chartered in 1934 and moved to the location at 14th and Central a decade later.
Ryan Lund, director of corporate communications for HTLF, stressed that DB&T’s move is separate from the charter consolidation currently underway for HTLF, and there will be no changes to DB&T once the charter consolidation is complete.
HTLF’s corporate headquarters moved from Dubuque to Denver as of Jan. 1, but company officials previously said Dubuque’s operations would remain largely unaffected. The company has been going through the process of consolidating its 11 bank charters into one based in Colorado, a move expected to be complete later this year.
“Each of our banks as they consolidate become a part of HTLF bank, but that has not occurred yet (with DB&T),” Lund said. “That is not scheduled to take place until the third quarter. The relocation and the charter consolidation are two separate things. It doesn’t change anything. As we have said many times, this does not change our commitment to our local brands.”
With the move, Leyendecker said, DB&T employees will be able to access new amenities — such as the dining area, fitness facility and rooftop area with meeting and outdoor space — that have been added to 700 Locust since HTLF and Cottingham & Butler began extensive renovations on the building.
“HTLF has invested millions of dollars in renovating, updating and relocating employees to 700 Locust,” said Bruce K. Lee, HTLF president and CEO, in an emailed statement to the Telegraph Herald. “This significant investment reinforces HTLF’s commitment to Dubuque and our employees here.”
Leyendecker said officials anticipate the bank at 700 Locust to be open and operational by the end of the year.
“This will allow us to collaborate more closely with our partners at HTLF and give our clients an experience at a level that they haven’t seen from us in the past,” he said.
The bank’s customer lobby will be located in the southwest corner of the building’s first floor, at the entrance off of Locust Street. Private banking offices will be on the mezzanine level, and commercial and wealth management groups will be housed on the fourth floor.
Lund said all of the about 40 employees from the Central Avenue branch location will move to 700 Locust with the change.
“The relocation will happen in phases,” Lund said. “We will be transitioning employees to 700 Locust in the second half of the year.”
Discussions on what will become of the Central Avenue building are ongoing, but the bank at that location is expected to be closed by the end of the year.
“We’ve been actively working on that,” Leyendecker said. “Right now, it’s too soon to say, but there have been some great ideas that we have been discussing.”
In addition to the move of the main banking location, the lobby of the DB&T branch on Loras Boulevard is expected to reopen by the end of this year. Referred to as the motor bank, the Loras Boulevard location was changed to drive-thru only in 2018.
“Retail customers who prefer to bank in person will continue to have that option in the North End of Dubuque,” Lund said.
Lund added that HTLF is “excited” to have many DB&T employees benefit from 700 Locust, from the building’s state-of-the-art amenities to the open floor plans and work spaces designed to foster collaboration.
“HTLF has invested millions of dollars into renovating and relocating employees to 700 Locust,” Lund said. “It’s an investment for all employees in the area, from both HTLF and Dubuque Bank & Trust.”
In an emailed statement to the Telegraph Herald, Leyendecker said the move, as well as DB&T and HTLF’s recent donation to local nonprofits, shows their commitment to the community.
“DB&T and HTLF’s $100,000 donation to five Dubuque-based non-profits demonstrates our ongoing commitment to the community,” Leyendecker’s statement reads. “With over 88 years of growth in Dubuque, DB&T and HTLF continue to reinvest with our new branch at 700 Locust and our continued support of local nonprofits.”