Iowa Trust & Savings Bank plans to build a new headquarters at 156th Street and Hickman Road in Clive. Architectural rendering by Simonson & Associates

Iowa Trust & Savings Bank, a community bank founded in 1929, plans on constructing a new headquarters on the northwest corner of 156th Street and Hickman Road in Clive, officials announced this week.

The $8 million project will include a two-story, 14,475-square-foot building with a brick and glass veneer. The building was designed by Simonson & Associates Inc.

The bank, which entered the Des Moines-area market in 2017, has outgrown its current location at 12035 University Ave. in Clive, Kris Ausborn, the bank’s CEO, said in a prepared statement. “This investment allows Iowa Trust to serve customers in Clive and the surrounding communities with a permanent location that provides accessibility and convenience,” she said.

Iowa Trust purchased the 2.2-acre undeveloped parcel from Kum & Go in August. The bank paid the convenience store chain $1.6 million for the land.

Site and utility work is beginning at the site this week. Construction of the headquarters is expected to be completed by fall 2023. Hubbell Construction Services is building the facility.

Iowa Trust has locations in Emmetsburg, Panora and Clive.