Enterprise Bank of Lowell has acquired the former site of the burned down Columbia Hotel for $585,000 with plans to create a new banking center in Leominster.
The bank plans to expand and relocate from its current location at 4 Central St., according to a release from the company, moving to the former site of the hotel at 65 Main St. and 15 Columbia St. The two sites were purchased for $585,000.
The hotel was destroyed in a fire in 2012.
Enterprise has outgrown its current location, and moving to this new location will help fuel the local economy, said Enterprise CEO Jack Clancy. The new center will feature the latest banking technology.
Enterprise Bank was founded in 1988 as a locally owned and managed community bank. It has 22 full-service branch offices located in the Massachusetts communities of Fitchburg, Leominster, Tewksbury, Lowell, Acton, Andover, Billerica, Chelmsford, Dracut, Lawrence, Methuen, Tyngsborough and Westford and in the New Hampshire communities of Derry, Hudson, Nashua, Pelham and Salem.
