Nottingham Building Society will replace the Norwich and Peterborough building society (N&P) branch, currently in Spalding’s Sheep Market which is set to close in October.
The new branch is just one of seven new openings for the company, which maintains face-to-face customer service is the best form of business.
David Marlow, Nottingham Building Society chief executive, said: “We’ve been looking for opportunities to come to Spalding for a while.
“The announcement of the closure of Norwich and Peterborough was a signal to us. It’s something we’ve done a lot over the last few years.
“We know the locations we’d like to be in and found it’s worked well when we follow in where the key places in towns have closed.
Nottingham Building Society will be taking over the branch in November and hopes the current staff will transfer rather than leave their jobs.