COEUR d'ALENE - Community 1st Bank is in expansion mode.

The locally-owned and operated bank, which opened in Post Falls nearly four years ago, plans to open a location at the northwest corner of U.S. 95 and Hanley by July 1 in the building formerly occupied by Coldwell Banker.

"We're excited to serve more of Kootenai County," said Dave Bobbitt, Community 1st chairman and CEO.

A lease was signed on Tuesday. Community 1st will occupy 5,100 square feet in the building at 4325 Hanley Ave., Suite 100, across U.S. 95 from the Silver Lake Mall.

Bobbitt said the location is attractive.

"We looked at several locations, but this seems really good with about 45,000 cars going by a day on that corner," Bobbitt said.

Bobbitt said the bank's headquarters - where 12 are employed - will remain in Post Falls. The administrative team of Bobbitt, Chief Financial Officer Bill Basom and President and Chief Operating Officer Jerry Lyon will also remain in Post Falls.

Bobbitt and Executive Assistant Laurie Dixon will assist with the Coeur d'Alene operation in the interim. Six employees, including a senior vice president/branch manager, will be hired to open the Coeur d'Alene location.

"Our vision has always been to grow the bank within Kootenai County," Bobbitt said. "Kootenai County is the market we grew up in."

Sixty-five shareholders - most are Kootenai County residents - own Community 1st Bank.

Community 1st has earned a 5-Star rating from Bauer Financial Inc., an independent banking rating service, for the past two quarters.

The Coeur d'Alene expansion is still subject to state and Federal Deposit Insurance Corporation approval.

Bobbitt said the bank hopes to open a branch in Rathdrum or possibly another location in Post Falls or Coeur d'Alene in two or three years.