Morganton Savings Bank clears way for landmark HQ

One of the most visually significant additions to the downtown Morganton skyline is officially underway.

After years of planning, Morganton Savings Bank has begun the construction of its new bank facility located on the corner of Green and Patterson streets in downtown. It is a highly visible location that has been home to the former SunTrust building and other financial institutions.

Demolition of the 1970s-era concrete building, in a style sometimes called brutalist architecture, started this week. In about six weeks, once the site is cleared, the emergence of a traditionally styled, 10,000-square-foot brick building will begin.

The new building, expected to cost about $10 million, presents a fitting blend of historical brick industrial charm and modern minimalism. The main structure features red brick masonry reminiscent of early 20th-century commercial buildings with repeating tall windows and sturdy rectangular geometry.

A prominent arched-window facade evokes the feel of historic civic structures. Bridging two primary brick sections is a planned contemporary black-glass-and-metal cube that functions like an atrium and emphasizes transparency and openness.

Planned landscaping includes water sculptures, curved walkways, and abundant parking.

The location itself offers some of the highest visibility in downtown Morganton on a heavily trafficked roadway — North Green Street — that leads from I-40, through town, and into the Blue Ridge Mountains.

Morganton Savings Bank, an independent, locally owned bank and portfolio lender founded in 1903, currently occupies the former Tate House on West Union Street that, while prominent as a historical structure, does not offer the visibility opportunities desired by bank CEO Mike Ayotte and his board of directors.

Sitting in his board room on the second floor of the existing bank building on West Union Street, Ayotte said Morganton Savings is a “high touch, high service” institution in an industry that “is increasingly impersonal and technical.”

He and his leadership team continually explore “how to remain viable, relevant and visible. We’re already relevant. We’re already vibrant. We are hometown. West Union is not as busy as North Green or South Sterling. We want to be more visible. We occupy an important niche. We’re not all things to all people. We’re not trying to compete as a commercial bank. So, we want to carry that forward into a new building that gives us the visibility this institution has never enjoyed.”

Demolition is expected to take 30 to 40 days. Construction of the new facility will take about 18 months.