ESSA Bancorp, a Stroudsburg-based holding company with assets of $1.8 billion, has moved its Nazareth branch to a larger space in the borough.
ESSA Bank & Trust, a subsidiary of the holding company, said Tuesday that it had closed its Nazareth office at 14 South Main St. and relocated to 76 South Main St.
The new space is a 2,700-square-foot-site, three times the size of the bank’s former space, said Gary Olson, president and CEO of ESSA.
The new site is the vacant former headquarters of Nazareth National Bank, Olson said. ESSA Bank will lease space on the first floor of the two-story building.
“For me, I love old bank buildings, so the good fortune to open the doors of the bank is a good thing,” Olson said
ESSA had been operating the branch at 14 South Main St. since buying First Star Bank several years ago, he added. The location did not have an ATM, a night deposit drop or parking, Olson said.
Its new site will be a full-service branch with more room for consumer lending, home equity and mortgage services, in addition to other services.
The bank moved four full-time employees to the new site, as well as $25 million in deposits. As business grows, the plan is to add more employees, Olson said.
The bank also completed renovations to the interior, construction work that it managed internally, Olson said. In addition, the property owner had made some significant upgrades to the property.
While it opened Tuesday, the bank is planning a grand opening in August, Olson said.
Valerie Noble, branch manager, will lead the new branch.
Overall, ESSA has nine branches throughout the Lehigh Valley.