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Dave Olson, Published July 23 2012

State Bank & Trust to buy downtown Fargo building

FARGO – Stockholders of State Bank & Trust have agreed to purchase a Fargo building that will become the bank’s new downtown location.

By mid-2013, State Bank & Trust plans to occupy about 30,000 square feet of an approximately 65,000-square-foot building at 15 Broadway, said Michael Solberg, State Bank & Trust president.

State Bank & Trust now has a branch at 51 Broadway, and Solberg said those operations will be moved to 15 Broadway.

He said some of the work done at the company’s headquarters at 3100 13th Ave. S. in Fargo will also move to the new downtown location.

“This building will continue to give us a strong business, retail and investment commitment to downtown Fargo,” Solberg said. “It also provides us more room to support future growth. We expect the downtown location to become a second major campus for us in Fargo as we require additional space.”

Solberg said it is his understanding that Alerus Financial, which has a branch at 15 Broadway, will move into leased space State Bank & Trust will be vacating at 51 Broadway.

State Bank & Trust announced earlier this year that it will change its name to Bell State Bank & Trust in September.

Readers can reach Forum reporter Dave Olson at (701) 241-5555