Major bank announces quarter of its outlets will permanently close and makes new plans for customers
A BANK chain is closing eight branches and dozens of staffers are set to be impacted.
Chiefs have revealed that some of the closures will impact locations where a mobile bank branch delivery service has been rolled out.
Dennis Zember, the CEO of Primis, revealed that a quarter of the firm’s 32 stores will shut up shop.
The closures are expected to take place by the end of October as reported by Richmond Biz Sense.
More than 30 employees are set to be impacted by the branch shutdowns.
Primis has rolled out a delivery service, known as V1BE, that lets customers do what they would normally do inside a bank.
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He said: “It’s an app that does every single thing you can do in a branch: a new debit card, to bring you $5,000 in cash, pick up deposits, a notary.
“Order it and we’ll come to you to conduct the transaction at your house, at your office, or in a gas station parking lot.”
Zember revealed that the company is adding around 100 users a month.
The closures come as the business has seen a financial hit.
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Primis reported losses of $188,000 in the second quarter of this year, compared to a $5million profit at the same time last year.
The company has branches across Virginia and Maryland, per the Federal Deposit Insurance Corporation.
Primis is not the only bank that has announced branch closures.
The U.S. Sun reported how Bank of America will be shutting down one of its branches in Bakersfield, California.
The store is expected to shut by February 24 next year, according to the company.
But, Bank of America has nine other centers or ATMs accessible to customers in the city, meaning users shouldn’t find it difficult to continue withdrawing cash.
Bank of America serves roughly 68million customers and operates 3,900 financial centers across the country.
Associated Bank, which is based in Green Bay, Wisconsin, is set to close six branches by November 17, per the Milwaukee Business Journal.
PNC Bank is also closing down more than 100 of its branches in grocery stores this year, per Annandale Today.
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