First US Bank (FUSB) today announced plans to develop an office
complex at the intersection of U.S. Highway 280 and Pump House Road
in the Birmingham metropolitan area. FUSB, which is headquartered
in Thomasville, Alabama, is the wholly-owned banking subsidiary of
United Security Bancshares, Inc. (Nasdaq: USBI).
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First US Bank - Development of Birmingham
Office Complex (Photo: Business Wire)
The nearly 3-acre site in unincorporated Jefferson County
adjoins Mountain Brook and Vestavia Hills. It was purchased by the
bank in late March and will become the home of a new 40,000
square-foot office complex. FUSB expects to occupy approximately
one-fourth of the space to house a bank branch, as well as
commercial lending and executive offices for the bank. The
remaining space will be leased to other businesses.
“We are very excited to be able to move forward with the
development of this high-quality office complex in the Birmingham
area,” said James F. House, President and Chief Executive Officer
of USBI and FUSB. “This represents the culmination of a great deal
of effort by a number of individuals over the past several months.
In particular, we are grateful for the efforts of the Jefferson
County Commission, as well as members of the local community, who
helped pave the way for this project. Commissioners Bowman, Brown,
Carrington, Knight and Stephens each helped us as we made this
important decision.”
The construction of the office complex represents an estimated
$14.5 million investment in the Birmingham area, along with the
near term creation or relocation of 10 to 20 jobs in Jefferson
County, a number that is expected to increase over time.
“We are pleased to be able to welcome another publicly traded
financial institution to the Jefferson County area and look forward
to First US Bank’s contributions to our communities,” Commissioner
Carrington said.
“I believe that First US Bank will be an excellent neighbor to
the surrounding communities,” Commission President Stephens said.
“The Commission was happy to be able to play a role in helping
bring this project to fruition.”
“When a community bank the caliber of First US Bank chooses your
community as the launch pad for its future growth, it is further
validation of the community’s reputation as a premier banking
center. Birmingham and Jefferson County have long been respected
for being a top U.S. financial center, and this solidifies that
reputation,” added Rick Davis, Senior Vice-President of Economic
Development for the Birmingham Business Alliance.
KPS Group Inc. is designing the office complex, and Brasfield
& Gorrie will serve as general contractor during construction.
Both firms have a significant presence in Birmingham and were
selected by the bank based on their level of depth and experience
in commercial office design and construction.
The bank has selected the commercial real estate firm of Graham
& Company to manage project development and handle pre-leasing
of the building’s remaining 30,000 square feet of tenant space.
“We are thrilled to be involved in this project, which adds new
office space to the successful U.S. Highway 280 corridor, and
represents the first new speculative office development in the
Birmingham market in more than seven years,” said Mike Graham,
President of Graham & Company. “The bank has assembled a
first-rate team that will design and build a facility that the
community will be proud of for many years to come.”
This announcement comes on the heels of FUSB opening a loan
production office (LPO) in the Office Park area of Mountain Brook.
The LPO is currently the focal point of the bank’s commercial
lending efforts in the Birmingham area, which are led by J. Samuel
Henderson III. “We anticipate Birmingham to be a significant area
for the bank’s future growth,” said Henderson, who joined FUSB’s
executive management team in January. “We already have a number of
great customer relationships established in this area, and we look
forward to forging new relationships as our presence here continues
to mature.”
The bank expects to occupy the new facility during the second
quarter of 2017, with plans to move the commercial lending staff
and executive offices housed at the LPO to the new location when it
opens. Staff at the new facility will focus on commercial banking
and lending but will also offer a full array of loan and deposit
services for consumers and businesses. Services will include
drive-up ATM and deposit services, as well as a full line of
electronic and online banking products. The bank also plans to
continue the community-oriented efforts that it has established in
its other service areas, which include providing financial
education to area students.
“We believe that this new office location will significantly
increase the level of service to our commercial customers and to
the area,” House said. “Birmingham has a vibrant economy and a rich
history as a financial center. We look forward to being a part of
that in a significant way in the future.”
Established in 1952, First US Bank serves its customers through
its 21 offices in Birmingham, Brent, Butler, Calera, Centreville,
Coffeeville, Columbiana, Fulton, Gilbertown, Grove Hill,
Harpersville, Jackson, McCalla, Thomasville, Taylorville,
Tuscaloosa and Woodstock. In October 2015, the bank opened its 20th
location at 2619 University Boulevard in downtown Tuscaloosa where
a commercial lending team is located for the Tuscaloosa market, and
in April 2016, the bank opened a loan production office in
Birmingham. The bank holds more than $570 million in assets, is a
member of the Federal Deposit Insurance Corporation, and is an
equal opportunity lender. For more information, contact us at the
bank’s website, www.firstusbank.com, or by mail to First US Bank,
P.O. Box 249, Thomasville, AL 36784. USBI files periodic reports
with the Securities and Exchange Commission (SEC). Copies of its
filings may be obtained through the SEC’s website at www.sec.gov or
www.firstusbank.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20160426006180/en/
First US BankJ. Samuel Henderson IIIEVP Birmingham Market
Executiveshenderson@firstusbank.com
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