The branch will be the first – and only – nonretail business allowed in the Top of the Hill Shops
If things go as planned, the Bank of Luxemburg will open a branch location before the 2021 summer season on the north end of Fish Creek in the Top of the Hill Shops.
The location for the new branch would be 9341 Spring Road, the home of Fish Creek Basketry for the past 24 years. Store owner Katie Eyrise is retiring.
Bank of Luxemburg President Tim Treml confirmed that the bank has an option to purchase the property. The bank has eight branch locations, all of those south of Door County, with the exception of the Sturgeon Bay branch.
Opening a location in Northern Door will enable the bank to serve the “significant customer base” that already exists in northern Door County, all the way up to Washington Island, Treml said.
“We’re doing a branch’s worth of business already up there, so we’re going to put a branch in there to improve our customer service and to live our mission statement to have a positive impact on people’s lives,” Treml said.
Nicolet National Bank closed seven of its branch locations in northeast Wisconsin in May. Three were in Door County – in Brussels, Ellison Bay and Fish Creek. That closure factored into the need-based criterion that drove the Bank of Luxemburg’s decision to branch out.
“In this case, in northern Door County, to fill a potential void left by another institution,” Treml said.
The appeal of Fish Creek was its central location in northern Door County and a traffic pattern that would drive both business and retail customers to the branch location, Treml said.
“The bank is very excited about the opportunity to move into northern Door County and begin to serve both our customers and noncustomers,” Treml said.
The bank will be the first and only nonretail business allowed into the Top of the Hill Shops, located north of Fish Creek at the junction of Highway 42 and County F, across from the Door Community Auditorium.
“In our bylaws, we require businesses to be retail, and this is not,” said Bill Kunst, president of the board for the Top of the Hill Shops.
One hundred percent of the 33 owners of the Top of the Hill Shops cast a vote on whether to allow the bank in.
“We had 100 percent participation [in the vote], and the supermajority [or three-quarters] allowed the bank in,” Kunst said. “And only the bank. This was a one-time deal.”
The sale of the property is expected to take place in early November, and Eyrise said she’d like to sell her things by the end of this month. Her retirement sale includes savings of 40-55 percent on all the store’s stock.
“I plan to stay in Door County for awhile and think things through and enjoy the scenery,” she said.