Farmers & Merchants Bank, of Spokane, plans to build a bank branch, its 15th overall, in the Wandermere area north of Spokane.


The bank has bought a retail pad at 516 E. Hastings, in the parking lot of Fred Meyers Wandermere store, and plans to build a two-story, 9,000-square-foot building there. Farmers & Merchants branch will occupy the first floor of the building, and office space on the structures second floor will be available for lease.


We have a number of customers in the far north portion of the county, and were looking forward to opening this branch and being more convenient for them, says John Tombari, the banks chief operating officer and senior vice president.


Construction of the building is expected to start in June, and the branch is scheduled to open in November.


The total cost to develop the new branch is expected to be between $1.3 million and $1.5 million, Tombari says. Madsen Mitchell Evenson & Conrad PLLC, of Spokane, is designing the building, and a contractor will be selected in the next couple of months, he says.


Tombari says the new branch will include drive-through lanes, but the bank hasnt determined how many yet.


Farmers & Merchants likely will employ seven people at the new branch, he says.


The longtime Spokane bank currently operates 14 branches, including five free-standing facilities and seven supermarket branches in the Spokane area, one branch in Cheney, and one in Rockford, Wash.