Lake City Bank to partner with Ash Brokerage; Open Downtown Branch

Financing is coming together for Ash Brokerage’s new downtown headquarters.

Ash Brokerage announced today, the company has reached a $20 million deal with Lake City Bank for the project. The deal also includes a full-service Lake City Bank branch on the first floor.

From a Lake City Bank press release, “As our financial partner, the bank's approval of this loan facility will provide us with the capital to bring this facility to reality,” Tim Ash, President and Chief Executive Officer of Ash Brokerage said.We're also excited to have Lake City Bank as the anchor tenant in the retail portion.”

The Ash Brokerage headquarters will include 95,000 square feet of office space and will house 230 employees in the initial move downtown. According to Ash, future plans include the addition of 115 new positions by 2018. The building is part of a major development in Fort Wayne that includes a parking garage and residential units.

The bank has 45 branches around northeast and north central Indiana.