The Freedom Bank branch, which will be located at the corner of Highway 37 and Doc Meyer Road on the southern edge of Seligman, will be a 3,500-square-foot, full-service banking facility, said McCullough.
"There will be two entries and exits off of Doc Meyer Road," said McCullough. "It will also have three drive-through lanes and an ATM. It will be a smaller version of the bank in Cassville."
McCullough said the branch facility could be completed sometime this summer.
"Final plans for the new facility were completed this week, and a contractor for the project will be selected by the end of January," said McCullough. "Construction will start shortly after. We're expecting about a five-month project."
Freedom Bank, a locally owned and managed bank, received approval for the Seligman branch from the FDIC and Missouri Division of Finance in October.
Growing population and commerce in the southern part of Barry County led Freedom Bank officials to choose Seligman as its newest branch location, said Stan Kelley, Freedom Bank president.
"Our current customer base has been increasing at a prominent pace over the past three years from the Seligman and Washburn communities, and a lot of our customers travel to northwest Arkansas to work and shop," said Kelley. "Our board of directors sees a lot of positive trends occurring in southern Barry County, and they feel it warrants expansion of Freedom Bank into Seligman."
The Freedom Bank presentation was quite impressive, said Duane Corn, Seligman mayor.
"We're just really pleased that they are going to do this," said Corn. "They left a good impression on us, and we will cooperate as much as we can. We're glad they chose Seligman."
The new Freedom Bank branch location will bring jobs and confidence to the Seligman area, said Corn.
"Everyone will see that there has been a commitment made by the bank and that shows confidence in the town," said Corn. "I feel like it is really going to help the community."
McCullough will serve as president of the new location in Seligman when construction is completed later this year.
Freedom Bank, which opened in November of 1999, is based at 97 S. Main St. in Cassville. The Seligman location will be Freedom's first branch bank.