EDMOND, OK-The Daily Oklahoman reports that Citizens Bank of Edmond plans to close three branches in 2013, remaining two operating branches of the community bank open. Pending regulatory approval, Citizens Bank will sell its three branches at 3600 South Blvd.; 855 W. Covell Rd.; and 16461 N. Pennsylvania to an undisclosed bank.
The article notes that, according to bank excutive vice president Jill Castilla, the bank will not lay off any of its approximately 70 employees as part of the sale. Instead, the plan is to increase staffing and hours at the two remaining locations in downtown Edmond. Citizens Bank also will upgrade its downtown banks. The upgrades will include installation of new ATMs and mobile phone deposit technology.
“We have millions of dollars tied up in those physical locations, and by doing this, we are able to reinvest in the company,” Castilla was quoted as saying in the Daily Oklahoman article. “This is really about redefining who we are. There's a lot of momentum in our industry and we are taking advantage of new technology that is available.”
For more about this planned sale, click here.
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