Forcht Bank to Add Location at Former Covington Greyhound Station
An historic downtown Covington building, long vacant and mostly remembered as the city's Greyhound Bus station, will soon have a new tenant.
Forcht Bank will open a new location on the corner of 5th Street and Madison Avenue with a targeted opening date at the end of June.
Forcht Bank Vice President of Business Development Steve Brunson is a familiar face in downtown Covington and has worked with developers on projects like the Boone Block, the Mutual Building, and bioLOGIC. He said that the bank became interested in being part of the Covington business community thanks in large part to the increase of younger professionals moving into the city.
“Our interest in Covington is the reason everybody else has interest in Covington,” Brunson said. “The Gateway Community College is a part, it's a good concentration of businesses there and individuals are moving into the city. It fits well with the client base that we're looking for. We recognize that the Millennials and the Gen-Xers and even those who are going into college right now, those are the future customers of Forcht Bank and with the increase in housing and influx of urban dwellers into the area, it just makes it that much easier of a decision.”
Forcht Bank has been in Boone County for 13 years, but the expansion in to Covington is the first in Kenton County. Brunson also said that Forcht will look to open up branches in Campbell County as soon as next year.
“Now that the bad economy has passed, we're going to expand our footprint in the market. The idea would be to have a presence in all three Northern Kentucky counties. I would think that we probably do one in Campbell County after we get this one up and running. Maybe a year down the road,” Brunson said.
The building in Covington was purchased by the Milburn Group which, according to Brunson, intends to gut it and renovate it for the bank on the first floor with apartments on the second and third floors. Construction is hoped to have been completed by the summer.
Milburn's project was the subject of a profile at The River City News last spring.
-Bryan Burke, associate editor
Photo: Old Greyhound Bus building, future home of Forcht Bank (RCN file)