Spokane-based Washington Trust Bank says it plans to open its first Airway Heights branch on land it recently bought there.


Washington Trust bought more than six acres of land at the southeast corner of Hayford Road and U.S. 2 early last month, says Keith Erhart, the banks vice president of administrative services. The bank bought the property from a company called MV & Associates, which is headed by Spokane developer Dick Vandervert, he says. Erhart declines to disclose the terms of the transaction.


The bank plans to build a freestanding branch on the site, and might also offer commercial lending services there, he says. It likely will develop a timetable for construction by early next year, he says. Wolfe Architectural Group PS, of Spokane, will be the architect.


We think its a great location, Erhart says. We see a lot of potential in that area, with the amount of residential and commercial activity going on there.


Inland Northwest Bank and AmericanWest Bank, both of Spokane, also have announced plans for branches in Airway Heights. INB currently operates a branch inside a grocery store in the West Plains city, but said last month that it was working on securing land to build a free-standing branch. AmericanWest has leased space in the Crosspointe Plaza Shopping Center, at the northeast corner of U.S. 2 and Hayford Road, for a new branch there.


Meanwhile, Bentonville, Ark.-based Wal-Mart Stores Inc. is building a retail store in the Crosspointe shopping center, while east of that site, Condron Construction Inc., of Spokane, is developing the Sekani at Crosspointe neighborhood.


Contact Emily Brandler at (509) 344-1265 or via e-mail at emilyb@spokanejournal.com.