SPRINGFIELD — New Valley Bank & Belief Co. celebrated its one-year anniversary Friday by saying its plans for a street-level department workplace in Monarch Place downtown.It can relocate from the ninth flooring of the workplace tower to the foyer in an expanded 6,000-square-foot bank department and headquarters.It is house subsequent to Starbucks that was most just lately a United Bank department and earlier than that a part of a Bank of America.The transfer is predicted to be accomplished by midsummer.New Valley Bank president and CEO Jeff Sullivan mentioned the bank is assembly the challenges of coronavirus.“Our bank was formed to serve the needs of local small business owners and their employees,” he mentioned. “We recognized two underserved niches in the local banking landscape when we formed the bank. Never did we imagine that there would be an economic disruption on a global scale that would highlight the need for strong local banking such as we have encountered in 2020. We are grateful to have been able to serve the community through this difficult period.”New Valley Bank board chair Frank Fitzgerald thanked the shareholders, board and employees for his or her dedication to the bank’s service model.“We have assembled a tremendous team which has worked under pressure, especially over the past two months,” he mentioned in assertion. “Our board has provided solid advice and guidance not only to our management team but to the community in the civic, charitable, and business leadership roles that our board members serve in daily.”New Valley Bank & Belief Co., the primary startup bank in Springfield in 11 years, started opening accounts and accepting deposits Might 30, 2019.It additionally has an workplace additionally at 1930 Wilbraham Highway in Springfield’s Sixteen Acres neighborhood.