Bank of America eyes Whitefish Bay location

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Plans for a Bank of America location moved forward in Whitefish Bay as part of a larger mixed-use development proposed on West Silver Spring Drive.

The Whitefish Bay Plan Commission on April 23 recommended approval for a 3,500-square-foot bank branch with drive-thru lanes to anchor a larger building at 131 W. Silver Spring Drive.

Thomas Shafer of Bayside Development submitted plans for a three-story mixed-use building with two retail spaces on the first floor and 16 market rate apartments on the second and third floors. The retail space outside of the bank will include 1,500 square feet. Currently, a two-story residential building is in the project footprint.

The village’s Architectural Review Commission and Community Development Authority must review and recommend the building design and site plan.

The bank will have two drive-thru lanes with no freestanding ATMs. ATMs will be drive-thru only.

In June 2023, Bank of America announced it will open five financial centers in Milwaukee and three in Madison in 2025. That year the bank operated around 3,900 centers across the U.S. and planned to open 55 more locations.

“As part of our high tech and high touch approach, we continue to invest in digital capabilities, and to modernize our financial centers to reach more clients and meet their evolving needs,” said Brian Moynihan, Bank of America CEO, in a statement. “By expanding our capabilities in these markets, we are able to better serve clients, and help drive local community growth and development.”