has announced its plans to open its first branch at 7322 Mentor Avenue at the corner of Midland Road, across from Points East shopping plaza.
The plans, which are still subject to approval, are expected to go before Mentor’s Planning Commission next month.
If all goes to plan, the full-service bank branch will open in the first quarter of 2013.
"Not only does this branch provide a second opportunity to bank at Lake National, but it continues with the reinvestment occurring along western Mentor Avenue," said Ron Traub, the city's director of economic development. "The [current] building has been vacant for several years and the renovation will enhance the neighborhood."
Lake National Bank opened in 2005. It is the only locally owned and operated bank in the county.
Jerome T. Osborne and six other investors founded it. They wanted Mentor and the rest of Lake County to have its own community bank.
"We are excited to announce this expansion, which will allow us to extend our philosophy of customer-focused service," said Andy Meinhold, the president and CEO of Lake National Bank, in a statement