A rendering of the new South Philadelphia branch.

Local independent banking powerhouse Valley Green Bank will open a new branch in South Philadelphia next week. The branch will mark the opening with a ribbon cutting ceremony on Friday June 7 in which bank officers will be joined by Mayor Michael Nutter.

According to a Valley Green release, the event follows more than $20 million lent by the bank in the South Philadelphia community.

“The event will highlight Valley Green Bank’s commitment to both serving the local neighborhood in an impactful way and adding to the vibrancy of the growing business community in South Philadelphia and the region,” the release said.

The branch is located at 1536 S. Broad Street, the northwest corner of Broad and Tasker streets. The event is scheduled to take place between 10:30 and 11 a.m.