F&M BANK in Garden Grove (Tribune photo).

By Jim Tortolano/Orange County Tribune

One of Garden Grove’s longest-standing banking institutions may be moving.

At Tuesday’s meeting of the city council, an item on the agenda calls for a lease agreement with Farmers and Merchants Bank to leave its current location at 10422 Garden Grove Blvd. and relocate into a city-owned five-story office building in the downtown-civic center area at 12966 Euclid St. (at Garden Grove Boulevard).

The office building, now with eight suite vacancies, would be 82 percent occupied if the agreement is finalized. The 11-year deal would bring in an estimated $1,863,762 to city coffers.

Additionally, F&M Bank has agreed to contribute 8.28 percent of the building’s operating expenses, about $11,530 and a security deposit of $17,392.63.

Also on the agenda is the Community Spotlight and presentation of a proclamation recognizing Don Schlensker and Susie Clisson as the 2024-25 Garden Grove Chamber of Commerce Man and Woman of the Year.

The city council will meet in its chambers in the Community Meeting Center, 11300 Stanford Ave. at 6:30 p.m.