Bank coming back to Magnet after a nearly 100-year absence
— Mark Mahoney Cedar County News
MAGNET A small-town financial institu- tion is banking on a new branch in Magnet to attract more customers.
Brunswick State Bank is planning to open a new branch inside the former Magnet State Bank building at 215 Main St. downtown.
“We’re looking to expand our footprint into a new exciting market area,” said Eric Wynia of Wausa, a vice president for Bruns - wick State Bank. “That was the best area we felt to expand to. It fits our niche as far as small towns and small communities. That’s why we’re headed that way.”
The bank currently has locations in Bruns wick, which has a population of about 150, and Winnetoon, home to about 55 people, making the new branch in Magnet, a commu - nity of about 45 residents, its third, one once it is open, in the spring of 2024.
Brunswick State Bank does have custom - ers in the Magnet area, though the business is looking to attract many more after the new branch is established.
Finch Contracting of Orchard is handling the renovation of the former Magnet State Bank building. Work has included the recent completion of the location’s sewer lines.
“Obviously, it’s an old building, and the sewer lines were pretty well shot, so those all got replaced,” Wynia said.
“We’re waiting for footings to hopefully get poured (soon),” he said. “We’re actually going to add on an addition to the north side.”
The entire interior of the old brick bank building is going to be renovated during the winter.
“The existing building is literally just in one big room,” Wynia said. “We’re going to try and actually renovate it as close to as what it originally was when it was the original bank.
“There’s some tiling right when you walk in the front door,” he said. “We’re going to replace that. We’re going to try and keep the exact same layout of how that tile lays.”
Once the old bank building is renovat ed and open for business, people will walk through the front door and into a lobby area, with the teller line o to the right.
"The wood flooring in there is actually in pretty decent shape,” Wynia said. “It just needs some patching here and there. It sounds like we’re actually just going to restore that to its original flooring and just finish that so it has the original feel."
In addition to the lobby area and teller line, there will be an o$ce located inside the existing bank building and a second o$ce, a break room, a kitchenette and re- strooms situated inside the new addition.
The plan is for the bank’s new Magnet branch to be staed during business hours by three-four employees.
“Our goal is to have it done and open by
June 1," Wynia said. "We'd love to have it done before that. If there’s any chance to get it done and open earlier, we’ll do that.”
The Magnet State Bank has not existed since the late 1920s, and the old bank building has since been used as a cafe and a residence over the years.
Brunswick State Bank bought the location in August. The old Magnet structure is about 1,000 square feet in size, with the new addition to be slightly smaller than that.
The bank’s third branch means it will not only have one location in each of three dierent communities, but three dierent counties, as well, as Brunswick is located in Antelope County, Winnetoon calls Knox County home and Magnet is situated in Cedar County.
For the community of Magnet, the presence of a new bank will mean another business has been attracted to the small village, which also is home to the Magnet Bar and McQuay Con - struction.
“We’re very excited to be coming to the area,” Wynia said.