The Bank of Cape Cod will open its fourth branch and new headquarters later this month and has also taken up a neighborhood challenge to "adopt" a nearby rotary.

Bank executives will cut the ribbon on the newest branch and corporate headquarters at 1582 Iyannough Road on Aug. 20, a press release said. Besides the branch, the new location will house the bank’s executive offices, commercial lending hub, operations center and residential mortgage division.

The bank also accepted a neighborhood challenge to beautify and maintain the Airport Rotary in Hyannis, an overgrown state-owned property that has long been the subject of complaints from residents.

"We were approached about this in the spring by several key leaders encouraging us to take on the project," President and CEO Timothy T. Telman said in a statement. "The timing was right with the opening of our fourth branch. We are committed to our customers and the community we serve and this seemed like a special way to give back to Hyannis, our Route 132 neighbors and the Cape as a whole."

The bank’s executive landscape crew officially began work on the site this week, and the bank has presented state officials with a three-year plan for cleaning up and maintaining the site.