RiverWood to build new Baxter branch

RiverWood Bank, Baxter, Minn., is breaking ground on a new building for its Baxter office..The 7,944 square-foot building will be completed by the end of the year, and will replace the bank's current, leased office space across the road. The bigger facility will accomodate an increase from the branch's current six employees caused by an increase in business at the bank's Baxter and Crosslake branches, both of which opened in 2004..It will also house a coffee shop, Stonehouse Coffee and Roastery from Nisswa, Minn., which will lease 1,200 square feet.."We're really excited about this new facility, not only because it gives us significantly more room to grow and add new services but because the community will have access to some of the building's features," said RiverWood Chairman Paul Means. "Co-branding with a coffee shop is becoming a common feature for banks that have added new branches in recent years that has proven to be very successful. It creates a more vibrant atmosphere than a traditional bank environment. We expect it to be a fun place to do business.".The $335 million RiverWood has eight other branches in northern Minnesota.