MANSFIELD — Park National Bank has informed tenants at its downtown office building it is terminating all leases effective Sept. 15, according to a letter the bank sent to tenants on Tuesday.
Park National Bank temporarily closed its building last month due to damage in the primary entryway. The building is also located at the epicenter of the current downtown construction project, making access to it challenging.
Two sets of structural engineers previously estimated a minimum 90-day repair on the building. According to the bank, the engineers confirmed there are items which need to be repaired in the front of the building.
Key Points
Park National Bank issued a statement Wednesday with the following points.
- We are working with tenants to ease the transition by offering three months of rent abatement and flexible lease terms..
- Work to inspect and remediate the structural issues at the Park National Bank building on Main Street in Mansfield is expected to take much longer than originally anticipated.
- After careful thought and consideration, we have made the decision to close the building and banking office located at 3 N. Main Street in downtown Mansfield. The closure is effective September 15, however the bank office will not reopen in the interim due to ongoing structural review of the building.
- To ensure our Mansfield customers continue to have convenient in-person banking options, we are simultaneously announcing the renovation and expansion of services at our nearby Mansfield Marion Avenue Drive-Thru Center, less than a mile away. Once interior enhancements are complete (estimated September 2026) the office will feature a full-service lobby, open Monday through Friday, 9 a.m. to 5 p.m. and Saturday, 9 a.m. to noon.
- We have communicated with bank associates, and team members will continue their employment with us serving in other nearby branch locations.
- We have communicated with our customers and building tenants in letters sent June 16.
However, in the letter signed by Park National Bank regional president Chris Hiner, the 90-day timetable will not be met.
“As you are aware, the building has sustained structural damage,” Hiner said in the letter. “We have determined this damage cannot and will not be remedied within 90 days.
“Because the damage renders continued occupancy impractical and repair within that timeframe is not feasible, this letter serves as notice that Park is terminating all leases in the building, effective Sept. 15, 2026.”
Park National Bank released a statement to Richland Source on Wednesday afternoon with the following comments from Hiner:
“The ways customers take care of their banking continues to evolve, with many choosing to use digital services or other more convenient locations,” Hiner said.
“As a result, we have been considering an updated approach to serving the Mansfield community for some time.
“With the work to inspect and remediate structural issues with the building expected to take an extended period of time, we believe the timing is right to commit fully to expanding service at Marion Avenue and continue evaluating other possibilities for future service locations in the region,” he stated.
“Future plans for the building are not yet determined. Our priority now is to fully remediate any structural damage. We share the community’s desire to see downtown Mansfield prosper and will work to find solutions that strengthen and benefit the community.”
Hiner said the bank recognizes the disruption this creates for tenants.
“We deeply value the relationships we have built with you over the years and are grateful for the trust you have placed in us,” he said.
“Our team remains available to assist with questions, access needs, or coordination with your move-out process.”
The eight-story, 42,876 square-foot building was built on the square downtown in 1929.
“In order to assist with your transition, all tenant rent obligations are abated from the date of this letter through the termination date,” Hiner’s letter reads. “You may vacate the premises at any time before Sept. 15, 2026 without penalty.
“Access to the building between now and the termination date will remain available to the extent Park determines it is safe, and in coordination with ongoing inspection and remediation activities.”
PNB had planned to donate the building to the city of Mansfield Community Improvement Corporation in a proposal that would have allowed the bank to purchase part of the Municipal Parking lot at the corner of Fourth and Main streets.
Ultimately, PNB withdrew the proposal after criticism from the public and downtown business owners concerned about losing the free parking spaces in the 1.42-acre lot.