Oxford Bank Corp., the holding company for Oxford Bank, has agreed topurchase a three-acre site at the corner of M-24 (Lapeer Road) and MarketStreet in Oxford Township.Once the sale closes, the company plans to build a 30,000-sf, multi-leveloffice building and banking facility.

Ed Figure, vice president of facilities, says his company does not wish todisclose the purchase price for the site, and does not yet know the cost ofdeveloping the new building.Randall Fox, chairman of the company, says studies have been ongoing foryears to build a new headquarters.

“Currently, we have various departments scattered among three differentlocations. There is simply no practical way of meeting our present andfuture needs for space,” Fox says.Figure says 75 of the company’s 170 employees will be transferred to the newbuilding.

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