First National Bank’s Campustown location is preparing to relocate as its building is slotted for redevelopment.

The location at 2330 Lincoln Way will be vacated at noon Feb. 28, and the bank will begin operations out of its new office at 119 Stanton Ave., Suite 101 on Mar. 3. The new location is housed on the ground floor of the Legacy apartment building.

The Lincoln Way building, owned by Ames National Corporation, is in the process of being purchased by the Providence, R.I. development company Gilbane. Gilbane intends to demolish the building and construct a six-story apartment building with commercial retail space on the ground floor.

First National Bank expects to move back into the commercial space at the Lincoln Way location after the redevelopment.

“We just need to work out a lease with them,” said Scott Bauer, president at First National Bank.

Bauer said that the location in the redeveloped Lincoln Way building will be “a branch based on how people will be banking in the future.”

The space in the Gilbane building will have fewer conventional bank characteristics, such as the traditional teller windows, and may include more automation options.

First National Bank hopes that when it moves back to Lincoln Way it can embrace the technological advances in banking by deviating from the traditional bank environment.

“The accessibility will be the same, but how it’s set up inside will hopefully appeal more to the students,” Bauer said.

“Technology has really changed the way our customers are banking, like all of the mobile banking and online banking. We’re just trying to incorporate that into the branch,” said Nicole Gebhart, vice president of First National Bank. 

First National Bank will be at the Legacy location for about 18 months before they are able to move into the rebuilt Lincoln Way space.

The branch will continue to provide the same services to customers at its temporary location, but will not have a drive-up window. The Legacy address has a night deposit box, and there are two First National Bank ATMs on Welch Ave. near CopyWorks and Jimmy Johns. 

The weekday hours will remain the same, 8:30 a.m. to 5:30 p.m. However, the branch will no longer be open on Saturdays.

The change in Saturday hours is another response to the modification of banking methods, which require less face-to-face interaction.

Bauer said that First National Bank hopes to use the opportunity of moving into the Gilbane building in 18 months to create “the branch of the future.”