WCF Bancorp Inc (OTCMKTS:WCFB) Stock On Radar After Recent News

One of the companies that had been in the next last Friday was WCF Bancorp Inc (OTCMKTS:WCFB), which is actually the holding company of WFC Financial Bank. The company came into focus among investors back on Friday after it announced that it had managed to acquire a parcel of land spanning 2.35 acres in Tama, Iowa.

Trading Data

On Friday, WCFB stock gained 1.68% to $7.88 with more than 750 shares, compared to its average volume of 1K shares. The stock moved within a range of $7.86 – 7.88 after opening trade at $7.86.

WCF Financial Bank Acquires Land; Announces Plans to Build New Branch in Tama, Iowa

The company acquired the land with the purpose of constructing a new branch of the bank at the site. It was also noted that WFC Bancorp would break ground at the site at some point in the spring next year and it expects the construction to be completed by the end of the year.

The property in question is adjacent to the McClellan Street location of the bank in Tama. It had leased that property back in 2000 when it entered the property for the first time.

The new branch building is going to be spread across an area of as much as 4500 square foot and is going to be a single-story location. It will offer full services of a banking establishment and would have a multi-lane drive up, in addition to night depositor as well as ATM services.

Key Quote

“Acquisition of this building lot, along with execution of a Letter of Understanding with Kirk Gross Company, signifies a milestone in our bank’s history,” said Tim Kluender, President/CEO of the bank and company. “The Tama/Toledo community has been extremely receptive to us during the last three years, and this new investment signals our intention to continue serving this market as a full-service community bank.”