CIBC is making plans to open a full-service branch at the corner of Derry and Thompson roads.

The new 6,305-square-foot branch is slated to open in spring 2009, the financial institution recently announced.

CIBC currently has one other location in downtown Milton. This summer, the company will also open a new 8,400-square-foot branch at the southeast corner of Steeles Avenue and Thompson Road, as announced last October.

That location will be one of just 12 across Canada to feature Sunday banking, a decision made public earlier this month.

The new locations in town, which were prompted by the large commercial and residential development happening in south-central Milton, will feature extended hours and four automated banking machines.

They are part of CIBC's strategic plan to build, relocate and expand more than 70 new branches across Canada by 2011.