One year after the long-standing Boulder Cafe found out its lease wouldn’t be renewed, and five months after it closed its doors for good, a bank is taking its place.

It’s not known yet what bank will open at 1247 Pearl St., or when.

Developer Stephen Tebo cited a confidentiality agreement surrounding the deal, saying only that it was a “major national bank that will be opening in 2016.”

“It’s a done deal; it’s signed and it will be a good addition” to the Pearl Street Mall, Tebo said.

When asked about the unexpected choice of a bank to replace a restaurant, he said, “We we normally wouldn’t (have chosen a bank), but when you see the concept, you’ll see that it’s a good fit.

“It’s a pretty ‘Boulder’ concept.”

Boulder Cafe operated in the space, co-owned by Tebo and outgoing city council member George Karakehian, for 24 years. In November of 2014, Tebo announced he would not be renewing the lease, saying it was time for “new ideas and concepts.”

The Big Red F restaurant group — operators of Jax Fish House and West End Tavern in Boulder and The Post Brewing Company in Lafayette — eyed the building but ultimately decided “it wasn’t a good fit,” owner Dave Query told the Camera in May.

On Friday, Query said the price wasn’t the issue, as some have speculated.

“It wasn’t the cheapest thing in Boulder, but that spot is kind of at main and main,” he said. “It’s a pretty incredible spot. I think the deal considering the location was pretty reasonable.”

The real issue for Big Red F was the proximity of four of the company’s restaurants to the cafe.

“There’s a lot of restaurants (in that area) right now,” he said.

Peter Averson, owner of Boulder Commercial Real Estate, said “some people might say” that a bank is an odd choice for the spot, but not him.

“I love the idea. Everyone needs banks,” he said. “It’s a good thing for commercial activity.”

Wells Fargo and First Citizens both operate branches on the Pearl Street Mall.

“Any business would do well at that place,” Averson added. “It’s just a great location.”

Shay Castle: 303-473-1626, castles@dailycamera.com, @shayshinecastle