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Commonwealth Bank & Trust Co. to acquire Prospect building

New branch will employ three, include an ATM

PROSPECT, Ky. (Sept. 8, 2015) — Commonwealth Bank & Trust Co. has entered into a letter of intent to acquire the Clay and Cotton building at 10716 Meeting Street in the Norton Commons area of Prospect in northeast Jefferson County.

bank“Our institution has been eyeing a Norton Commons location for some time now,” said Ann C. Wells, chairman and CEO of Commonwealth Bank & Trust. “This area is a large hub for residential, retail and corporate activity, and we will offer a full-service branch. We view this as an exceptional growth opportunity, and CBandT hopes to open the new branch in early 2016.”

The 2,700-s.f. building is currently owned by Margaret Taylor, and houses the East End location of the popular Clay and Cotton home goods store. Taylor will continue to operate the Clay and Cotton location in the Highlands section of Louisville, and is looking at new space in Norton Commons.

“Commonwealth Bank & Trust fits perfectly with Norton Commons’ profile as a unique destination for independent local businesses,” said Marilyn Osborn Patterson, general counsel and marketing director for Norton Commons. “Our neighborhood is now home to close to 3,500 residents and 58 businesses, including a growing number of professional services firms. CBandT will be another tremendous addition.”

Norton Commons is a vibrant new urbanist development with homes, businesses, and civic and green spaces assembled in an integrated fashion, resulting in a complete community. Norton Commons sits on almost 600 acres in northeast Jefferson & Oldham counties and is currently about 40 percent complete.

The CBandT location at Norton Commons will have three staff members and a walk-up ATM.