122-Year-Old Bank Shrinks Branch Network Again

A bank founded in 1904 has announced additional branch closures as part of an ongoing review of its branch distribution and service channels. The changes will reduce the number of locations offering in-person services; customers will continue to access accounts at remaining branches and through the bank’s online and mobile platforms.

In a written statement, the institution attributed the adjustments to changes in customer behavior and operational priorities. Affected customers will receive notices with closure timelines and options for account access, including transfers to nearby branches and assistance enrolling in online banking.

The bank did not disclose how many branches will close. Local managers will provide specific details to employees and customers in the coming weeks. Where relocation is not possible, some staff will be offered reassignment or severance packages.

Commercial and retail customers were told that branch services such as safe deposit access and cash handling will be coordinated through remaining sites and by appointment. The bank also plans to provide guidance to small-business clients that rely on branch operations for daily cash management.

Industry analysts and bank officials pointed to sustained declines in branch foot traffic and rising operating costs as factors in the decision to shrink networks. The institution has previously reduced its branch count while expanding mobile and online offerings.

Founded in 1904, the bank has operated through periods of expansion and consolidation across economic and regulatory cycles. Executives noted the firm will continue serving customers in markets where it retains branches and through digital channels in locations where branches are closing.

Regulatory filings and local notices required by state banking authorities will follow as closures are finalized. Customers seeking details were directed to the bank’s website and local branch contacts for specific timelines, account transition information and options for in-person services at nearby locations.