Bangor Savings Bank in Maine plans to close four branches next year.

The $3.2 billion-asset mutual thrift will close offices in Howland, Farmington, Hartland and East Millinocket, Maine, the Bangor Daily News reported. The proposed closings require regulatory approval.

The closures will begin in March and run through June. Employees of the branches will be offered positions at other branches.

The bank did not provide an estimate of cost savings from the branch closures.

"We've seen changes within the banking industry, as well as slow but steady migration toward alternative banking channels, which have resulted in decreasing activity in some of our branches," Susan Snowden, chief consumer officer, told the Bangor Daily News.

Bangor Savings did not immediately return a request for comment.

Bangor Savings earlier this year began a $10 million expansion in the Portland area, including a newly renovated branch and two new branches.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.