Bridgewater Bank is relocating its branch in downtown Minneapolis, but it’s not going far.

On Wednesday, the St. Louis Park-based bank announced that it will move the branch to a new 3,200-square-foot location that’s a block away from its current home. Slated to open on Monday, July 17, the new site is at 60 South Sixth Street, formerly known as RBC Plaza.

“We look forward to opening our doors at 60 South Sixth in July,” said president & chief executive officer Jerry Baack in a press release. “Our confidence in downtown’s future remains strong, and our new branch reflects our commitment to serving as a reliable banking partner to local clients, entrepreneurs and the greater business community.”

The bank’s Marquette Avenue branch will close Wednesday, July 12th.

Although some of the bank’s corporate employees follow a hybrid work model, many customers still prefer in-person banking options. In an email, a Bridgewater spokesperson said the extra space was necessary to provide a better relationship-based banking experience.

“In addition to convenient online and mobile banking options, we believe our clients deserve the personal touch and expertise that comes with an in-person banking experience,” the spokesperson said.

As of now, the bank has no plans for additional expansion in downtown Minneapolis as it hopes the new downtown space will provide plenty of room for the bank to grow and accommodate customers. However, the bank said it will continue to assess customer needs.

The bank’s downtown Minneapolis branch is one of seven branches across the Twin Cities area.

Bridgewater Bank, which has had operations in downtown Minneapolis since 2013, is one of the largest locally led banks in Minnesota with total assets of $4.6 billion.

The bank moved its headquarters from Bloomington to St. Louis Park in August 2020. Founded in 2005, Bridgewater became a publicly traded company in early 2018.