At a time when some banks face flat profits or are cutting back services, Meridian Bank is demonstrating its commitment to the community.

Bank President Scott Schaefer announced Monday a half-million dollar exterior and interior renovation project to the local branch in Fountain Hills Plaza, 13404 N. La Montana Drive.

The bank provides a full line of personal and business banking services.

Commenting at the groundbreaking event that the bank is financially strong, Schaefer said “our remodel will remind residents and clients of our 25-year commitment to the community.”

Meridian began operating in town as Community Bank.

“Meridian’s been a part of growing new and existing businesses, supporting our clients’ financial needs and creating new jobs for many years.”

“We are lending and we are the longest tenured community bank in Fountain Hills,” said Schaefer.

Remodeling will bring a more contemporary, efficient entryway, improved security and ADA accessible customer service areas designed for a more private and intimate atmosphere for clientele.

Aesthetic interior improvements will include colors and textures reflective of Arizona. Murals depicting Four Peaks morning and evening landscapes will adorn the interior walls.

Created in the remodel will be 1,200 square feet of adjacent office space that Meridian will donate to a local non-profit organization.

Bank Manager Todd Russell said details of the donated space will be announced later.

“Our commitment to the community extends beyond serving the banking needs but also to support a charity serving the heart of the community,” said Russell, a new member of the Chamber’s board of directors.

He explained that the bank intends to consult the Chamber of Commerce and other community organizations to identify a charity before the renovations are completed.

Construction began July 15 and is expected to take about four months.

The contemporary design is a tribute to the post-modern 1970s inspiration behind the town’s centerpiece and iconic fountain designed by Charles Wood for original community developer Robert P. McCulloch.

General contractor is Eddie Freedlund of RJM Construction, based in Minneapolis. The bank renovation is one of the first projects for the firm in the Phoenix market, said Freedlund.

A temporary entrance has been located on the north side of the building. The lobby will be built half at a time, so as not to interfere with client transactions. The drive-through will remain open throughout construction.

Construction schematics and concept drawings are on display in the bank. Local subcontractors will be selected wherever possible, said Russell.

Mayor Jay Schlum said Meridian’s success is “what we need as a community.”

The bank plans to extend operating hours from 9 a.m. to 5 p.m. upon completion of the remodel.

The renovations do not involve two other occupants of the building, Chocofin and Nabers Real Estate although the exteriors of the building will be painted. 

Meridian Bank has been part of Arizona for 33 years and 60-plus years in the banking industry. In addition to the local branch, the bank has six other locations throughout the state and plans to open an eighth office later this year, according to the bank’s Web site.