Bank Independent is branching out east, according to Area President Garth Lovvorn, who said Thursday that the company will build a new bank at U.S. 72 and Lindsay Lane.

Lovvorn said the acre lot, which Bank Independent officials just closed on, is the first parcel sold in the new East Side Junction being developed by local real estate broker Bill Ming.

Ming could not be reached for comment Thursday.

“We are in the process of getting plans finalized with the city,” said Lovvorn. “We are getting close to having the final drawing, but we have not put it out for bid yet.”

Lovvorn said the property east of Lindsay Lane, which until recently held a used car lot, was previously owned by Bobby Lindsay, Larry Lindsay and Betty Lindsay Taylor.

“Bill Ming of Ming Enterprises has 14 to 25 acres there that he is developing,” said Lovvorn. “He brokered the deal.”

Lovvorn said Bank Independent had been working “hand-in-hand” with Ming on the development.

Bank Independent currently has one location in Athens at Clinton and Market streets.

“We’re building on U.S. 72 to better service our customers and that area,” he said. “And we have on the drawing board plans for Madison and Huntsville.”

While the first property was sold to Bank Independent, Lovvorn said he does not know what other companies might be locating in East Side Junction.

“We know with Bill’s expertise and knowledge he will line up quality people like he already has, such as Holiday Inn Express, Guthrie’s, Starbuck’s, Back Yard Burgers and Ruby Tuesday’s—he had a hand in all of them,” said Lovvorn.

Kroger Company several years ago had held an option on land east of the Bank Independent site, but Glenn Jenkins, Kroger’s director of community relations in the company’s regional office in Atlanta, said he is unaware if the company still holds the option.

“There are no immediate plans to build a store in Athens, Alabama,” said Jenkins. “There are no plans in discussion.”