Nov. 4--When Bank of America closes its downtown Lynchburg branch next month, the building's owners hope to quickly recruit a new banking tenant.

Buck Bradley, a partner in MJTB Properties LLC, said a couple of financial institutions already have looked into moving to the 801 Main St. location.

"It's very important that we have it leased out," Bradley said. "It's been a bank in that location for almost 100 years, and we'd like to see another bank or financial institution move into that area."

Bank of America is closing its Main Street center on Dec. 11 as part of a branch consolidation to cut costs. MJTB Properties bought the building in 2005.

The building, originally home to People's National Bank, has stood on the corner since 1914.

Bradley said having a bank at that corner is convenient for the tenant businesses on upper floors of the building, as well as others in the area. He said he believes the downtown community can support another bank.

He hopes to have the space leased by early next year.

Skipper Holt, chairman of the board of Campbell Insurance, located above the bank, said having the bank gone would be inconvenient.

"A number of our employees do bank with Bank of America. Over the years it's been very convenient to get on the elevator and go down four stories and cash a check or pay on a loan," Holt said.

Charlie White of Wood & White Investment Advisors in the same building said that his business would not be affected by the branch closure.

However, "Being big supporters of downtown Lynchburg, we'd love to see that space filled quickly by a new tenant."

Other businesses on the block said they use Bank of the James or other nearby banks, so they would not miss Bank of America.

Biff Bowen, owner of Bowen Jewelry Co., said he thinks the bank leaving is only a minor issue compared to new restaurants and loft apartments opening downtown. "Any business that closes is a setback, but there are so many set-forwards and things that are going right," he said.

-----

To see more of The News & Advance, or to subscribe to the newspaper, go to http://www.newsadvance.com.

Copyright (c) 2009, The News and Advance, Lynchburg, Va.

Distributed by McClatchy-Tribune Information Services.

For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.

NYSE:BAC,

A service of YellowBrix, Inc.