Downtown Farmington bank building ‘refresh’ on track for 2022

The renovation of an iconic downtown Farmington building, underway over the past year, should be complete next spring.

GLP Financial Group bought the Farmington State Savings Bank in early 2020, with plans to move its headquarters from Farmington Hills.

“Not only will this be our headquarters, but it’s our home and really the whole city is going to be part of this,” said Alex Kocoves, CEO and board chair of the independent financial services firm. “The people here are amazing. This being the main corner of downtown Farmington, it just needed a little bit of a refresh.”

Farmington State Savings Bank
Over the summer, crews prepared the Farmington State Savings Bank’s exterior for a new look.

Crews will restore the exterior and modernize the interior with an open concept workspace in glass and wood. Plans honor the integrity and history of the original building; one example has an old vault serving as a conference room.

The bank was part of a post-World War I building boom in downtown Farmington. Finding a prominent historical building isn’t common in smaller, older communities, and that made the renovation even more challenging and worthwhile.

“We hope this will sort of help bring more activity and more business to downtown Farmington. It really is a great place,” Kocoves said.

GLP Financial Group has helped public education employees and non-profit professionals meet their retirement needs for over 50 years. To learn more, visit glpfinancialgroup.com.

Reported by