US-based Independent Bank has announced plans to close 12 branches located in Colorado and Texas a part of its strategy to consolidate its retail footprint.
All the 12 affected locations were acquired by the bank as a part of its expansion strategy between April 2017 and January 2019.
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Independent Bank branch closures
The plan includes closing eight branches in Colorado and remaining four in Texas.
“The proposed changes are expected to reduce overlap of brick and mortar operations, while keeping the organisation well-positioned to support existing customers and future growth,” the bank said in a statement.
It also added that the bank will try to accommodate the employees affected by the decision into other organisational areas. Others will be provided with additional resources to support them with the alignment.
Except the Castle Rock branch in Colorado, all the affected branches will continue to operate till May this year.
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By GlobalDataThe Castle Rock branch will wind up its operations in the fourth quarter of 2019.
The bank assured that its convenience services, online banking and seasoned relationship experts will continue to offer seamless services.
Independent Bank noted that it will continue to have 90-plus branches across the two states.
Independent Bank Group chairman and CEO David Brooks said: “By streamlining our presence, we increase our ability to give back and channel our resources.
“The belief that we have a responsibility to build strong, healthy communities is a natural extension of our corporate culture.”
