Sterling Savings Bank in McCleary will close Feb. 22, a representative confirmed Wednesday.
Letters went out to clients announcing the closure in November. Communications and Public Affairs Director Cara Coons said all accounts would be automatically transferred to the Elma branch, located at 106 S 3rd St.
Coons said the closure was the result of ongoing evaluations by the bank about branch profitability.
“It really is a part of just ongoing responsible management of our organization,” Coons said. “It’s really not a decision we take lightly, it’s a difficult decision for the bank knowing there’s an impact on our customers and employees.”
She said employees at the McCleary branch would have the opportunity to apply for other positions with the bank, and severance packages would be available to those who can’t find another job in the company.
The closure would leave Our Community Credit Union as the only banking institution in the city.