Citizens Community Bancorp in Eau Claire, Wis., will close three branches.

The $564 million-asset company disclosed in a regulatory filing Thursday that the closures will take place in January. The decision was made after "ongoing branch efficiency studies," the filing said.

The branches are located in Oak Park Heights, Minn., and the Wisconsin towns of Plover and Wisconsin Rapids. The company said it will continue to review its branch network to "deploy assets and capital to growth markets and exit markets where it believes it has limited growth opportunities."

"While we are closing branches, we remain committed to servicing the financial needs of each of the communities within our footprint," Edward Schaefer, Citizens Community's president and chief executive, said in the filing.

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