American Riviera Bank has completed the purchase of a building in Paso Robles that will house its newest branch, the bank announced on Oct. 3.

Located at 1601 Spring St., the branch is set to open in early 2018 and will be the first full-service branch of American Riviera Bank in San Luis Obispo County. It will occupy 4,957 square feet and will have a large parking lot, a drive-up teller and an ATM. American Riviera will also be improving the exterior of the building extensively.

“The purchase of this building, as opposed to a lease, represents the beginning of our long-term commitment to San Luis Obispo County. We are excited to move forward and improve this vacant bank property for the benefit of our customers and the surrounding neighborhood,” said American Riviera Bank President and CEO Jeff DeVine in a news release.

The bank’s loan production team, currently located at 205 Oak Hill Road in Paso Robles, will move to the new location when the branch opens. The bank also plans on hiring four to five new employees to help with depository and mortgage services at the new location.

Financial details of the building sale were not disclosed.

• Contact Robert Shutt at rshutt@pacbiztimes.com.