Pinnacle Bank to open downtown location at Pinnacle Bank Place
Pinnacle Bank will open the doors at its new branch location in downtown Fort Worth next week making this the bank’s sixth Fort Worth location, bank officials announced Aug. 17.
The full-service branch is located on the ground floor of the Pinnacle Bank Place building on Lancaster Avenue.
“As a community-focused bank, it’s important for us to support the growth of Fort Worth,” said Ronny Korb, Pinnacle Bank Charter President. “We take a lot of pride in this project and look forward to what’s ahead for downtown and Lancaster Avenue.”
In 2015, Pinnacle Bank and the City of Fort Worth’s Local Development Corporation reached two agreements in the development of the five-story Pinnacle Bank Place. Pinnacle Bank loaned the LDC $16.5 million to construct the 160,000-square-foot, mixed-use development building. It is located on Lancaster Avenue between Jennings and Throckmorton streets near the Fort Worth Omni Hotel and facing the U.S. Post Office and T & P Station.
“The City of Fort Worth and the Fort Worth Local Development Corporation found a great partner in Pinnacle Bank as we looked to jump-start development on Lancaster Avenue downtown,” said Jay Chapa, Fort Worth Assistant City Manager, in a news release. “Our partnership has brought their newest banking location to a mixed-use facility that adds residential and retail to the downtown community and is spawning additional development on the corridor.”
Pinnacle Bank purchased 8,500 square feet of the west side of the building to use for the new full-service branch and executive offices. In addition to the branch, the ground floor of the building has retail space and apartment management offices. The four floors above include 130 apartments.